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A project consists of five main elements which are also known as steps necessary for the
successful completion of any project.
They include:
i. Initiate
The initiation process authorizes the overall project or next phase of a project. In this phase, project objectives are established, scope defined and responsible parties and deliverables are identified.
ii. Plans
The planning process are precisely that the defining and refining of the best course of action to take to attain the project objectives. Planning fall into two categories namely, core planning and facilitating processes. Core planning are those that have clear dependencies that require them to be performed in essentially the same order on most projects. Examples include scope planning and cost budgeting.
Facilitative processes are entirely dependent on the nature of the project and are performed
intermittently and as needed though they are not optional. Some at the facilitative planning
processes include quality planning staff acquisition and risk identification.
iii. Execute
Planning paves way for executing which involves coordinating resources, human and otherwise,
to carry out the overall project planning. Because of the ongoing role execution plays in project management, its processes are also divided into core and facilitating sub groups. The central core process project plan execution oversees facilitating processes such as team development, information distribution etc.
iv. Monitor and control
Controlling processes have a strong presence in all but one of the project management stages. These processes ensure not only that project objectives are met, but also hat corrective action can be taken should problem arise. In this phase, performance, reporting and risk monitoring and control are core.
v. Close
The watch full eyes of the controlling processes eventually lead to closing where the project is accepted and brought to an orderly end. The two main components of closing are contract close out in which any remaining open items are resolved and contract is settled and administrative closure. The gathering of information to formalize project completion includes compiling lessons learned for use in future project.
NatalieR answered the question on June 13, 2022 at 05:50
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