The software development life cycle (SDLC) serves as a structured process guiding the development of software from conception to implementation and maintenance, ensuring quality, timely delivery, and customer satisfaction. It encompasses key phases including planning, design, development, testing, and deployment while emphasizing effective communication, risk management, and adherence to regulatory standards. Modern trends like Agile methodology, DevOps integration, and cloud computing have transformed SDLC by enhancing flexibility, collaboration, and efficiency in software projects.