In software development life cycle (SDLC), artifact usually refers to "things" that are produced by people involved in the process. Examples would be design documents, data models, workflow diagrams, test matrices and plans, setup scripts, ... like an archaeological site, anything that is created could be an artifact. In most software development cycles, there's usually a list of specific required artifacts that someone must produce and put on a shared drive or document repository for other people to view and share.
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