The Software Development Life Cycle (SDLC) is a structured framework that outlines the steps involved in building a program correctly from inception to launch and maintenance. The process begins with understanding the requirements and defining the project objectives, followed by planning and design before writing the code. The program is then tested to ensure it functions efficiently and is bug-free, before being released to users and receiving updates and improvements as needed. This approach helps minimize risks, improve product quality, and streamline work among development teams to ensure the delivery of stable and scalable software.