Processes in project management

Process management has certain processes that are used in order to accomplish the task i.e. successful project. These are discussed in detail below.

Traditionally, project management includes number of elements. These processes hardly differ in the case of online project management. Regardless of the methodology or terminology used, the same basic project management process will be applicable to all other subtype of it.
Primarily the major process groups include:
1. Initiation
2. Planning and Development
3. Production and Execution
4. Monitoring and controlling
5. Closing

In online environments with significant exploratory elements these stages may be supplemented with decision points at which the project’s continuation is debated and decided.
The process of initiation identifies the nature and scope of the project. At this stage if the performance of online project is not well it is unlikely that it will be successful in meeting the business demands. The key project controls needed here are an understanding of the nature of online environment and making sure that all necessary controls are incorporated into the project. Any deficiencies or alteration should be immediately reported and measures should be taken to fix them. The stage of initiation in online projects should include the areas as
1. Analyzing the business needs and requirements in measurable goals.
2. Cost benefit Analysis including budget
3. project charter including costs, tasks, deliverables and schedule

After initiation stage, the project is planned to an appropriate level of detail. The main purpose is to plan time, cost and resources needed and to manage risk during project execution. Like with the initiation process group, a failure to adequately plan greatly reduces the chances of success in achieving the goals
Project planning generally consists of determining how to plan, developing the scope of business, identifying deliverables, activities which are needed to complete tasks. Estimate all the resources, time and cost. Develop a budget and schedule for running the goals. Additional processes include planning for communications and scope management, identifying roles and responsibilities, determining what to purchase for the project.
The process of executing consists of the processes used to complete the work defined in the project management plan to accomplish the project's requirements. Execution process involves coordinating people and resources, as well as integrating and performing the activities of the project in accordance with the project management plan.
The next phase of monitoring and controlling consists of those processes performed to observe project execution so that potential problems can be identified in a timely manner and corrective action can be taken, when necessary, to control the execution of the project. The key benefit is that project performance is observed and measured regularly to identify variances from the project management plan.
Monitoring and Controlling includes many of the activities. Mainly it includes measuring ongoing project activities, project variables like cost, effort and scope against the project management plan. Influencing the factors that could circumvent integrated change control so only approved changes are implemented. Identifying corrective actions to address issues and risks involved.
In multi-phase projects, the monitoring and controlling process also provides feedback between project phases, in order to implement corrective or preventive actions to bring the project into compliance with the project management plan.
With the passage of time the work scope may change. This change can be normal and is expected in the construction process. Changes can result of necessary design modifications and change in tactics. These changes should be monitored thoroughly and measures should be taken to overcome them. When changes are introduced to the project, the viability of the project has to be reassessed. It is important not to lose sight of the initial targets of the project. When changes accumulate, the forecasted result may not justify the original proposed investment in the project
In the end, there is a process of closing, which includes the formal acceptance of the project and the ending thereof. Administrative activities include the archiving of the files and lessons learned. This end phase consist of finalizing all activities across all the process groups to formally close the project phase.