- Project Management Terms
- Agile - The Definition of Continuous Change
- Servant Leadership - A Key Leadership Style in Agile
- 6 Steps to making reasonable decisions
- What is the BOSCARD method
- PEST Analysis: How Political, Economic, Social, and Technological Factors Impact Your Business
- 49 Processes in Project Management
- What is Aggregate Planning in Project Management?
- 25 PMP Formulas you must remember to pass the PMP exam
- Example with formulas Earned Value, Cost Variance and Schedule Variance
- Example with formular Cost Performance Index (CPI), Schedule Performance Index (SPI) and Estimate at Completion (EAC)
- Example with formulas Beta Value in PERT, Expected Monetary Value (EMV) and Risk Priority Number
- Example with formular Variance at Completion, Estimate to Complete (ETC) and To Complete Performance Index (TCPI)
- Example with formular Standard Deviation, Communication Channels and Cost plus Percentage of Cost
- Example with formular Cost plus Fixed Fee, Cost plus Award Fee and Cost plus Incentive Fee
- Example with formular Return on Investment (ROI), Payback Period and Cost Benefit Ratio
- Example with formular Present Value (PV), Future Value (FV), Target Price and Point of Total Assumption
- Kanban Board - Agile Project Chart
- Gantt Chart - Roadmap Project Chart
- What is a Timeline View in Project Management?
- PERT Chart - The Most Popular Project Management Diagram
- Work-Breakdown Structure (WBS) Chart
- Flowchart in Project Management
- Cause-Effect Project Charts - Fishbone Diagram
- Burn-up and Burn-down Project Charts
- Bar Chart in Project Management
- What is Pareto Chart
- What is Pie Chart
- What is Control Chart
- What is Matrix Diagram
- What is Critical Path Diagram
- What is Cumulative Flow Project Chart
- What is Enterprise Environmental Factors
- What is Arrow Diagramming Method (ADM)
- What is Cost Baseline
- What is Cost-Benefit Analysis
- What is Cost Engineering?
- What is Cost Management Plan
- What is Cost of Quality?
- What is Cost Overrun?
- What is Cost Performance Index?
- What is Cost Plus Fixed Fee Contract?
- What is Cost Plus Incentive Fee Contract?
- What is Cost Plus Percentage Of Cost Contract
- What is Cost Reimbursable Contract?
49 Processes in Project Management
Integration Management Processes:
The coordination between the resources, stakeholders, and other project elements which ensures to execute the project end to end successfully is Project Integration Management. It is very important because project success highly depends on integration management in terms of schedule, cost, quality, scope, risks, etc.
1 – Develop Project Charter process:
The develop project charter process is a document which is prepared in the initiation phase to formally authorize the existence of the project. In this process, the document is prepared and given to the authoritative project manager to use the resources required for the project.
The project charter is a key element which describes the whole project in brief. The project charter generally includes the objective of the project, stakeholders, requirements, high-level assumption and constraints etc.
2 – Develop Project Management Plan process:
The process of combining all the project plans and sub-plans into a single integrated plan. It is one of the most crucial processes of project management. Project success is dependent on the project management plan. The authoritative head to plan project management is the project manager.
This document is approved and signed by authorized stakeholders.
3 – Direct and Manage Project Work process
In this process, the project work activities are directed and managed while executing. This refers to the term “leading and controlling” the assigned project activities. The key outputs of this process are final deliverables and change requests for the project work.
4 – Manage Project Knowledge process
The main objective of this process is to improve the project process using the existing knowledge and creating new knowledge. The knowledge created is used for further processes and future projects. The continuing knowledge gain and utilizing the existing knowledge is the main objective of the project.
5 – Monitor and Control Project Work process
Monitoring and controlling project work refers to the continuous tracking, reviewing and reporting the project progress status to achieve the required target of the project work activities.
The performances of each assigned resource are monitored and controlled. The document is prepared regarding the issue and the improvement possible.
6 – Perform Integrated Change Control process
The perform integrated change control process includes reviewing all the change requests and managing them effectively from all the working department. The document is prepared for approval of any change requests.
The change requests are approved when there is not much impact on scope, time and cost of the project. The change requests can be project deliverables, project plan or project assets.
7 – Close Project or Phase process
This process refers to closing the project activities by finalizing all the deliverables of project activities and the documents related to closing the project or phase is prepared by the project manager. In this process, the resources are released to work for other projects.
Scope Management Processes:
Project scope management is to define what is included in the project and what is not included in the project. The scope of the project is the work that is involved and the factors to execute the project successfully. There are 6 project scope management processes in planning and controlling process group.
8 – Plan Scope Management process
It is the process of creating the document in which information about how the scope is defined and managed throughout the project process. The scope management plan provides the direction of how to deal with the end to end requirements of the project. The scope management plan acts as a guide to the project flow.
9 – Collect Requirements process
The process of collecting all the requirements from all the resources or stakeholders to meet the project objective is called Collect Requirement Process. The documentation of all the requirement helps in tracing the matrix of the organizational assets required for the project. The collected requirement is to be managed and fulfilled to meet the objective of the project.
10 – Define Scope process
The complete description of the scope of the project is documented in this process. The main objective of the project is to document what is included in the project and what is not included in the project.
The clear description of the project is available from this process.
11 – Create WBS process
Creating WBS refers to the Work Breakdown Structure in which all the project activities are divided into smaller activities. This helps in assigning tasks or activities to the resources. This framework also helps in understanding the project objectives and the defined scope. The inputs, tools and techniques, and the outputs are clearly defined in this process.
12 – Validate Scope process
In this process, the final deliverables are validated and accepted by the project manager. It is a formal acceptance of the completed project whether it met the scope or not is validated in this process. Before submitting the final deliverables to the customer, if the project manager validates the scope, then the chances of the customer accepting the projects are also high.
13 – Control Scope process
The control scope process ensures whether all the project activities are according to the planned scope. This process monitors the status of the project and manages the changes according to the scope baseline. It ensures there is no slippery in the project scope during project activities.
Schedule Management Processes:
Project schedule management involves the listing of the tasks, deliverables, duration, stakeholder assigned, start and end date of the tasks within the project. Time management completely depends on the proper schedule management.
14 – Plan Schedule Management process
Schedule Management Plan ensures the project activities are completed on time. The document is created with project activities based on WBS and time is allocated to complete the project work activity. It is the process of determining the procedures, policies, planning, executing, managing, and controlling the scheduled activity.
15 – Define Activities process
The list of all the project activities to be conducted during the project execution is documented in this process. The exact actions to be taken to achieve the project objective is the main output of this process. In this process, the input, tools and techniques and output is clearly defined.
16 – Sequence Activities process
The process of identifying the priorities of the project activities and documenting the same. The sequence of all the project activities are documented in this process. It is one of the most important processes of project management to keep the project flow smooth.
17 – Estimate Activity Durations process
Estimating the activity durations refers to document the time allotted to each project activity. This process helps to set the whole project timeline according to the sequence of project activities.
18 – Develop Schedule process
The process of combining all the components of schedule management to project timeline is scheduling process. The document is created by analyzing the sequence of project activities and the estimated duration.
19 – Control Schedule process
The process of monitoring and managing the time taken to complete the project activity during execution. The document is created to update the status of the project. The main objective of this process is to ensure that the project activities are executed within the allotted time to maintain the project management plan.
Cost Management Processes:
Cost is the most critical factor in any organization. The process of estimating, allocating and controlling the cost of the whole project comes in project cost management. The budget is fixed according to the project activities. The costs are estimated during the planning phase and controlled if it exceeds during execution.
20 – Plan Cost Management process
The process of cost management plan includes the policies, procedures and guidelines to plan, manage, and control the project costs. It also includes documenting the costs throughout the project. The cost management plan is done according to the project activities, schedule, resource and requirements.
21 – Estimate Costs process
This process includes estimating all the monetary resources included in the project activities to achieve the target on scheduled time. The costs are estimated based on the resource requirements. The main objective of this process is to determine the overall cost required to complete the process.
22 – Determine Budget process
The process of combining the cost of all the project activities to establish the formal cost baseline of the overall project. This process helps in projects cost flow, risk management. Cost baseline helps in monitoring and controlling the cost of individual activities.
23 - Control Costs process
The process of monitoring and controlling the cost of individual project activities during execution is called a control cost process. The costs are controlled and brought to the cost baseline if exceeds. The document of cost update is maintained throughout the project.
Quality Management Processes:
The process of achieving assured quality with respect to scope, time and cost is project quality management. With proper quality management, an organization can achieve customer satisfaction and enhance further productivity. The process of quality management is in three phases of project management: Planning, execution, and monitoring and controlling.
24 – Plan Quality Management process
Plan Quality Management process is the process of identifying the quality requirements and quality standards relevant to the project output. The document of a set of quality standards is prepared for each project activities. The methodology used, the resource assigned, the cost and the time allocated are the major factors affecting quality.
25 – Manage Quality process
Manage Quality process is the process of managing all the project activities according to the quality management plan while executing. The main objective of managing quality process is to integrate all the quality policies in the project activities to maintain the quality plan management.
26 – Control Quality process
Control Quality process is the process of monitoring and controlling the executed project activities according to quality management. The main objective of this process is to ensure the project output is correct, complete and meet the expectations of the customer and the quality plan. This process also includes the documentation of results obtained during the control quality process.
Resource Management Processes:
The project resource management involves managing human resource, material, equipment, knowledge and time. Recourse plays a very important role during the execution of the project. There are 6 Project resource management processes in three phases of project management.
27 – Plan Resource Management process
Plan Resource Management process is a process of identifying the required resources, equipment for the required for the project activities. Planning resources include preparing the user guide document to identify, acquire, manage and monitor the required resources for project activities.
28 – Estimate Activity Resources process
The process of estimating the type and amount of resources required for each project activities. The main objective of estimating resources is to plan the resource requirement for the overall project.
29 – Acquire Resources process
The process of acquiring the resources like team members, types of equipment and other resources required for the project delivery. The main objective of this process is to ensure there is no shortfall of resources required for the project.
30 – Develop Team process
The process in which the stakeholder or project manager improve the knowledge, skills and techniques of the team members as per the requirement of the project quality. This improves the competencies and enables the interaction between the team members enhancing the quality of the project.
31 – Manage Team process
The process of tracking and recording the performances of the team and managing by giving feedback, resolving issues, managing conflicts and optimize the project performance according to the project requirement. The main objective of this process is to improve the overall performance of the team and enhance productivity.
32 – Control Resources process
The Control Resources process aims to fulfil all the resource requirement for the project activities. It ensures all the resources allocated are according to plan. The probability of change requests is high in resource management. Therefore, controlling the resources and monitoring according to the resource plan management is highly essential.
Communications Management Processes:
The project communications management ensures that the right message is sent, received and understood by the right people. Communication is one of the most critical factors affecting the success of the project. According to PMI, most of the project failed due to communication. The three processes are involved in project communication management in planning, executing and monitoring phase.
33 – Plan Communications Management process
The process of conducting proper communication according to the stakeholder’s need and requirement. The process includes a proper approach and plan of communication with organizational assets. The communication can be through any formal and recorded medium.
34 – Manage Communications process
Managing communication process ensures that the message is created, collected, recorded and distributed by authorized stakeholders and understood by the receiving end according to the communications management plan.
35 – Monitor Communications process
Monitoring communications process is a process of monitoring and controlling the communications throughout the project life cycle ensuring that the communication meets the stakeholder’s information requirement.
Risk Management Processes:
Project risk management involves identifying the risks, analyze the risk and control the risk. The risk management is done to reduce the impact of risk on project pace. The risk identified can be uncertain and have a huge impact on the resource, processes, technology, and schedule. The 7 processes of risk management lies in planning, executing and monitoring phase.
36 – Plan Risk Management process
Planning risk management involves preparing the document on identifying risk, prioritizing and managing according to the risk assessment matrix and how to conduct risk assessments activities within the project.
37 – Identify Risks process
The process of identifying, determining and documenting all the possible risks that may affect the project is Identify Risk process. The main objective of this process is to anticipate the risk before execution. Documentation of all the risk will help in further project activities.
38 – Perform Qualitative Risk Analysis process
In order to set the risk priorities, the analysis is done on the probability of the risk, the impact of the risk on the project and other risk parameters affecting the project deliverables. The main objective of performing qualitative analysis is to predict and reduce the uncertainty of the risks.
39 – Perform Quantitative Risk Analysis process
Performing quantitative risk analysis is the process of numerically analyzing the effect parameters of identified risks on overall project activities. This process helps in further prioritization of risks, reducing the uncertainty.
40 – Plan Risk Responses process
The process of developing action plans against the identified risks to reduce the overall impact on the project. Planning the risk responses involves selecting strategies and agreeing on the actions developed.
41 – Implement Risk Responses process
The process of implementing risk responses involves executing all the actions planned against identified risks to reduce the uncertainty of the project.
42 – Monitor Risks process
The process involves monitoring the implemented action plans against risk identified. This process involves tracking of risk responses, analyzing new risks and reducing the risk factor throughout the project.
The project procurement management involves obtaining goods, services and supplies. Procurement includes all the materials required to complete the project. 3 procurement management processes are involved in planning, executing and monitoring phase of project management.
43 – Plan Procurement Management process
The process of documenting the material required, specifying the approach, identifying potential dealers, identifying good service required for the project within the allocated budget and assured quality.
44 – Conduct Procurements process
The process of selecting the seller, obtaining seller responses and finalizing the procurement requirement with the seller through agreements. The main objective of this process is to ensure procurements are done according to the requirement for deliverables of the project.
45 – Control Procurements process
The control procurement process involves managing all the procurement relationship and monitoring contract performance. This process also involves deciding the changes related to procurement wherever necessary.
The project stakeholder management is the process of identifying suitable stakeholder for the project and meet the expectation of the selected stakeholder. The success or failure of the project depends on the key stakeholders.
Four project stakeholder processes are involved in initiating, planning, executing, and monitoring and controlling the phase of project management.
46 – Identify Stakeholders process
The process of identifying stakeholders is done in the initiation phase of the project. Based on performance, experience and skills, the key stakeholders are identified to manage the assigned part of the project.
47 – Plan Stakeholder Engagement process
The process of determining how to approach different stakeholders for different project activities. The roles and responsibilities of the key stakeholder are planned. The amount of engagement in each part of the project work is assigned to stakeholders.
48 – Manage Stakeholder Engagement process
The process involving interaction with stakeholders and working with stakeholders to meet their expectations, resolving the issues by stakeholder engagement process. This process has a potential impact on the project.
49 – Monitor Stakeholder Engagement process
Monitoring the stakeholder engagement process ensures effective interaction and engagement between the project stakeholders. Engagement strategies and plans are executed if necessary.