The following are the four components of project management that students will need to know in PBL. Transcript: Life is full of projects. Whether it’s someth...
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According to PMBOK, Project management processes can be organized into five groups of one or more processes each:
■ Initiating processes—authorizing the project or phase.
■ Planning processes—defining and refining objectives and selecting the best of the alternative courses of action to attain the objectives that the project was undertaken to address.
■ Executing processes—coordinating people and other resources to carry out the plan.
■ Controlling processes—ensuring that project objectives are met by monitoring and measuring progress regularly to identify variances from plan so that corrective action can be taken when necessary.
■ Closing processes—formalizing acceptance of the project or phase and bringing it to an orderly end.
The process groups are linked by the results they produce—the result or outcome of one often becomes an input to another. Among the central process groups, the links are iterated—planning provides executing with a documented project plan early on, and then provides documented updates to the plan as the project progresses.