6)
What are the project management process
groups? Estimate how much time and money
is typically spent on projects in each of these process groups. Assume you have
one year and $100,000 to spend.
Process Groups describe and organize the project from start to finish and is important to note how they relate and depend on each other to guide the project to a successful end. Project management process groups progress from initialing activities to planning activities, executing activities, monitoring and controlling activities, and closing activities.
Process Groups describe and organize the project from start to finish and is important to note how they relate and depend on each other to guide the project to a successful end. Project management process groups progress from initialing activities to planning activities, executing activities, monitoring and controlling activities, and closing activities.
The project management process group refers specifically to the idea of a series of five process per the concepts laid out in the PMBOK guide they are; initiating, planning, executing, Monitoring & Controlling and closing. Assuming I have $100,000, see below my estimate of how much time and money is typically spent on projects in each of these process groups.
ReplyDeleteInitiating: 2% - $2,000
Planning: 21% - $21,000
Executing: 69% - $69,000
Monitoring and Controlling: 5% - $5,000
Closing: 3% - $3,000