The menstrual cycle consists of four phases - menstruation, the follicular phase, ovulation, and the luteal phase. It is controlled by hormones produced by the hypothalamus and pituitary glands. During the follicular phase, FSH stimulates follicle growth in the ovaries. Ovulation occurs when an LH surge causes the release of an egg. In the luteal phase, the corpus luteum produces progesterone and estrogen to prepare the uterus for potential pregnancy. Common issues include painful or heavy periods, which can be caused by hormonal imbalances or underlying conditions.