What are the five process groups in project management?

The five process groups in project management, according to the Project Management Institute (PMI) framework and the PMBOK Guide, are indeed Initiating, Planning, Executing, Monitoring and Controlling, and Closing.

Each of these process groups serves a distinct purpose throughout the life cycle of a project:

1. Initiating focuses on defining and authorizing the project, including identifying stakeholders and aligning project objectives with organizational goals.
2. Planning involves establishing the scope, objectives, and course of action necessary to achieve the project goals. It includes developing a project management plan and various subsidiary plans related to scope, time, cost, quality, and risk.
3. Executing is where the actual work occurs. The project team carries out the tasks defined in the project management plan, which involves coordinating resources and stakeholders to achieve project deliverables.
4. Monitoring and Controlling is about tracking, reviewing, and regulating the progress and performance of the project. This ensures that the project remains aligned with its goals and that any deviations are addressed effectively.
5. Closing involves finalizing all project activities, releasing project resources, and formally accepting the project deliverables.

Understanding these process groups is crucial for effective project management,