Every project has a life cycle. According to the PMBOK guide (Project Management Body of Knowledge) During this life cycle, there are several phases called ‘process groups‘. Each of these process groups has a different and crucial objective, which helps to produce desired outcomes in a project. Project monitoring and controlling process group activities help […]
When it comes to projects, the risk to reward ratio is key. Knowing how to develop and execute projects that give the best return with appropriate risks is essential for any business. In this blog post, we will discuss how to measure the risk to reward ratio of a project, how to develop projects that […]
A project has a beginning and an end, as seen in the CAPM training. There are five process groups in the project life cycle: project initiation process group, project planning process group, project executing process group, project monitoring and control process group, and the last one is, project closing process group. During this whole project […]
There are five different project management process groups. These five groups consist of five different steps in project management. Each project management process group helps to begin, execute, and finish the project as required. Every project management process group defines the timing, the inputs and the outputs of a project. One project management process group comes […]
Cost Management is one of the 10 project management knowledge areas and it involves necessary processes to finish the project within the approved budget. Its aim is described in PMP courses as “to define the necessary budget to execute the project and its aim is to monitor and control the project costs to match the approved […]