Which of the following describes the similarities of the process groups and project life cycle?

The project life cycle does not involve only three process groups - all five process groups can be applied within each phase of the life cycle.

The project life cycle and the five process groups both provide structural frameworks that guide how a project is organized and managed, though they serve different purposes. The life cycle defines the phases of the work being done, while process groups define when and how project management activities are applied. Their shared characteristic is that both offer a fundamental organizing structure for effective project management.

Not every project must use all processes in all five process groups - tailoring allows teams to apply only those processes appropriate for the project.

This statement describes a relationship between the two concepts rather than a similarity they share, and it oversimplifies how process groups interact with the life cycle.