What are the five process groups in project management?

The five process groups in project management are crucial for the structured approach to managing projects effectively. The correct answer includes Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

Initiating is the first phase where the project is defined at a high level and its feasibility is assessed. This phase establishes the project charter, which formally authorizes the project and identifies stakeholders.

Planning follows, which is essential for laying out the roadmap for how the project will be executed, monitored, and controlled. This phase includes defining objectives, determining resources, and creating schedules, thus ensuring that all team members understand the project’s direction and goals.

Executing involves implementing the plan, coordinating people and resources, and carrying out the tasks to meet project objectives. This phase is where the actual work is done, requiring constant communication and feedback.

Monitoring and Controlling occurs concurrently with Executing and is vital for tracking project performance. It involves measuring progress and making adjustments as necessary to stay on track with the planned objectives. This ensures that any issues are identified and addressed promptly to prevent project derailment.

Lastly, Closing is the final process group that formalizes the completion of the project. It includes final deliverables, obtaining acceptance from the stakeholders, and archival of project documents for