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A Project Review is an assessment of the status of a project, at a particular point in time. The first time in the project life cycle that a project review is undertaken is at the end of the first project phase, called Initiation. During this project review, a decision is made as to whether or not the team has met the objectives and is approved to proceed to the next project phase, being the Planning phase.
review. 1  a critical article or report, as in a periodical, on a book, play, recital, or the like; critique; evaluation. 2  the process of going over a subject again in study or recitation in order to fix it in the memory or summarize the facts. 3  an exercise designed or intended for study of this kind.