1) Initiating: This is when a project or project phase is defined and authorized. Going into the Initiating Process, you will usually have a statement of work or a contract from the project sponsor. The output of this process is a Project Charter and a Preliminary Project Scope Statement.
2) Planning: This is when the project manager creates and maintains a workable scheme that ensures that the project addresses the needs of the organization. Projects have many plans, including plans for managing scope, schedule, cost, procurement, and the list goes on.
3) Executing: This is the biggest part of a project, because it is when most of the work takes place. A project manager must coordinate people and other resources to carry out the plan.
4) Monitoring and Controlling: Here, the project manager regularly measures and monitors progress to ensure that the project team meets the project objectives.
5) Closing: Closing processes include a formal acceptance of the project or phase and efficiently ending it. Administrative activities such as archiving project files, closing out contracts, and documenting lessons learned are often included in this process group.
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