Project cycle is a useful way to understand the various stages that any project will probably go through. The same approach will apply when you are dealing with as simple project idea within your own organisation or a complex project supported by a number of external funders.
Different funding agencies use different terms, but the principles behind the process are basically the same.
The time needed for each stage of project identification, preparation and appraisal varies greatly depending the size and complexity of a project, the procedures and requirements of the potential finder, and the number of funders involved.