7) What is an “event”? What is a “process”? What is a “life cycle”?

Event is significant occurrence or happening that indicates good or bad.
Reference:
http://www.seslisozluk.com/?word=event


Process is a naturally happening or designed a routine way of change of properties of object or system.
Reference:
http://en.wikipedia.org/wiki/Process


Life cycle is a time period from birth to end of person, product or business.
Reference:
http://www.acmeadvisor.com/Glossary.htm