We present a versatile method appropriate for the period analyses of observations containing phase information of all kinds of periodic or nearly periodic variable stars on the basis of phenomenological modelling of their phase curves and phase functions. The approach is based on rigorous application of a non-linear weighted least-squares method exploiting all available observational data and does not need an O-C diagram as an intermediate stage for period analyses. However, this approach enables us to determine precise times of extrema of light curves, to calculate ephemerides and construct plausible O-C diagrams. We substantiate the general applicability of the method on eclipsing binaries research.