PROJECT MANAGEMENT · PROJECT MANAGEMENT LISTED GROUPS Each of the 49 project management processes listed in Table 1-4 on page 25 of the PMBOK is classified under one of the project

PROJECT MANAGEMENT LISTED GROUPS

Each of the 49 project management processes listed in Table 1-4 on page 25 of the PMBOK is classified under one of the project management process groups: initiating, planning, executing, monitoring and controlling or closing.

LIFE CYCLE APPROACH

In the life cycle approach each of these process groups are repeated iteratively in each phase of the project: in phase 1… and again in phase 2… and again in phase 3, or phase N, depending on how many phases your project has.

MORE ACCURATE RESULTS

Each iteration produces a more accurate result than in the previous phase, for instance in phase 1 of the planning of the costs you would use an analogous estimating technique which resulted in order of magnitude cost estimate.

In phase 2 the planning of cost would use a parametric cost estimating technique resulting in a budget estimate.

In phase 3 planning of the cost would use a bottom-up technique resulting in at definitive estimate. The increasing accuracy obtained due to the iterations of the process groups is called progressive elaboration.