Article / Updated 10-30-2020
Project management is the process of guiding a project from its beginning through its performance to its closure. Project management includes five sets of processes:
Initiating processes: Clarifying the business need, defining high-level expectations and resource budgets, and beginning to identify audiences that may play a role in your project
Planning processes: Detailing the project scope, time frames, resources, and risks, as well as intended approaches to project communications, quality, and management of external purchases of goods and services
Executing processes: Establishing and managing the project team, communicating with and managing project audiences, and implementing the project plans
Monitoring and controlling processes: Tracking performance and taking actions necessary to help ensure project plans are successfully implemented and the desired results are achieved
Closing processes: Ending all project activity
As illustrated, these five process groups help support the project through the four phases of its life cycle.