Project Life Cycle — The Five Process Groups

The PMBOK Guide organizes project management into five process groups (not sequential phases — they overlap):

1. Initiating

Define the project; authorize it to begin

Key output: Project Charter

Identify the Project Sponsor and initial stakeholders

2. Planning

Define scope, schedule, cost, quality, resources, risks, communications, procurement

Key output: Project Management Plan

Most critical phase — garbage planning = project failure

3. Executing

Do the work defined in the plan

Direct and manage project work; manage teams; conduct procurements

4. Monitoring & Controlling

Track progress against the plan

Perform integrated change control; manage scope, schedule, cost

Happens throughout the entire project

5. Closing

Formally close the project or phase

Obtain acceptance; release resources; document lessons learned; archive records

Key insight: Most project failures happen due to poor initiation and planning, not poor execution. Invest heavily in the front end.

Reference:

Wikipedia: Project Management

https://en.wikipedia.org/wiki/Project_management