what are some of the advantages of following process of project management?

Following procedures of project management can always pay a lot as the product +the service development cycle is all what project management demands.
Project management can be termed as the use of contemporary management procedures and schemes to the implementation of a project from beginning to the end, to accomplish and achieve predetermined purpose and objective of scope, time and cost, and quality to the equal satisfaction of those involved. Projects are unique endeavors that are meant to change lives.
There are 5 Prime processes in a project management lifecycle which is taught at one of the best online project management certification. These include:
Initializing the project, Planning and Development of the project, project Production and Execution, project Monitoring and controlling and in the end Closing the project. 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.

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. The project here is in the initial phase and any amendments can be done here so that any fault identified is removed in the initial stages.
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. Best online project management certification i.e. provided by brain measures, makes sure that all these factors are well taken care off in the course ware provided.
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.
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. Best online project management certification i.e. provided by brain measures, makes sure that all these factors are well taken care off in the course ware provided.
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