What are the 5 Project Management Processes?

What are the 5 project management processes?  Regardless of the project life cycle or methodology you use, all projects go through 5 overarching processes, more correctly referred to as "process groups."  Some large projects may be divided into project phases and each phase should also go through the 5 processes.  Following these process groups and the processes they contain helps organize a project so it is more effectively managed and has a higher chance of success.

Here is a summary of each process and deliverables:

Initiating:  Initiating is where projects are conceived, approved, and launched.  Based on a business case and addressing a strategic need, a project charter is developed to define the major objectives, limitations, and constraints of the project.  The stakeholders of the project are also identified at this time. Project charters are sometimes contained in other documents such as contracts, statements of work (SOW), or memorandums of understanding (MOU).

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Planning:  Planning organizes all the information about the project or project phase and creates a project plan, a roadmap for completing the project. The project plan should have subdivisions for each of the project management knowledge areas as they are applicable. Project plans should always include scope statements or work breakdown structures (WBS), schedules, and budgets, and may include other documents as needed from each knowledge area.

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Executing: Executing is where the work of the project is performed.  The project team follows the roadmap developed during planning to complete the work.  During this time, the project manager motivates and manages the team to complete the work.  The project manager must also ensure the team has all the resources needed, when they are needed to prevent project delays.

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Monitoring and Controlling:  Throughout the project, the project manager must monitor and control the project.  A weekly review examines the progress the team is making on the roadmap and action must be taken, if needed, to keep the project on track.  Changes to the project are also carefully managed.  Only the essential changes should alter the roadmap during project execution.

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Closing: Closing includes all the work that must be completed to end the project.  This includes the delivery of the project to the client and checks to be sure all work was finished as specified.  All project documentation is turned over to the client and the project manager ensures that the project finances are closed and the client accepts the project.

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Since the standards for project management are not prescriptive, your projects may have fewer or more phases.  Regardless of how many phases there are, having all elements of these processes included is essential for project success.