Project Management

A project consists of countless processes, from defining a project, to creating a budget, to compiling statistics. There are, in fact, 47 identifiable processes according to the PMBOK Guide. All these different process, however, can be grouped into 5 categories called the 5 process groups. The 5 process groups comprises a project’s life-cycle, from beginning to completion.

These process groups are called:

Initiation

This is the first phase of the project process. During initiation, you work with a client brief and brainstorm ideas, define the project, define the project’s goals, and set up the specifications and parameters of the project.

Planning

The second phase is planning. During this phase, you write out a baseline plan for your project. This baseline plan will include things like: schedules, resource lists, tasks and activities, team members, risk analyses and reporting structures. The plan then needs to be evaluated and approved by project stakeholders (your client, employer, or even in some cases: the government).

Execution

Execution means the implementation of your project plan. The execution phase can take the longest of all the processes, depending on the particular project: it can be the building of the largest skyscraper in the world, or it can merely be a two day conference that needs to be managed. The performance of the project team is crucial during this part of the process.

Monitoring & Controlling

Monitoring and controlling consists of keeping to your schedule, reporting to stakeholders and interested parties, monitoring the budget, and making sure that the execution of the project matches up to the initial plan. The project process also goes back and forth between planning, executing, and monitoring during this phase. Each time there is a discrepancy during the monitoring phase, the plan needs to be altered and re-implemented.

Closure

the project nears completion, you need to close out all contracts, meet the final project goals, and compile all the final reports and documentation. It is important to document everything before closing the project. Evaluating the project results, as well as your project team, is also important.