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 […]
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 […]
1. What exactly is “vertical integration,” and why does a project manager need to understand it? Vertical integration means a firm controls multiple (or all) stages of its value chain—everything from raw‑material sourcing to manufacturing, distribution, and even after‑sales service. Done well, it tightens quality control, accelerates speed‑to‑market, insulates the company from supply‑chain shocks, and can […]
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 […]
When a project is ongoing, you must monitor the health of the project whether the project is on budget, on time and quality requirements are met. Earned value management and earned value formula technique are some of the ways to analyze actual results vs planned values. We will go over these concepts in detail in […]