Yes! According to PMBOK “phases” are subprojects with strong sequential dependencies. Phases have a project lifecycle because they may be considered projects in their own right. But …

Within PMBOK it is not clear how “phase” and “lifecycle” relate to each other. Naturally, within the general PM community, usage each of these terms has overlapping areas of meaning. However, within PMBOK hopefully these concepts stand in clear relationship with each other.

The following quotes from 4th ed. misuse the word “phase” to mean something other than the PMBOK definition. The lifecycle does not have phases.

• 1.5 “At each closeout phase,”
• 5.1 “project execution phase”
• 5.3.2.1 “Using phases of the project life cycle”
• 6.2.2.4 “start-up phase of a development project”
• 7.1 “For example, a project in the initiation phase could have a rough order of magnitude (ROM) estimate in the range of ±50%.”
• 9.4.2.5 “Successful projects require strong leadership skills. Leadership is important through all project phases of the project life cycle.”
• 12.4 “In such cases, each contract life cycle can end during any phase of the project life cycle.”

The following quotes are ambiguous. Does “phase” mean that the example project was broken up into multiple sequential sub-projects or is the contrast intended to be between, say, planning time and execution time?

“6.3.1.3 For example, during the early phases of an engineering design project,
the pool of resources might include junior and senior engineers in large numbers. During later phases of the same project, however, the pool can be limited to those individuals who are knowledgeable about the project as a result of having worked on the earlier phases of the project.”

6.4.2.2 It is frequently used to estimate project duration when there is a limited amount of detailed information about the project for example, in the early phases of a project.

David
Visual PMBOK Guide – On One Page
http://www.jospar.com