A project process is any course of action that helps move a project along during the execution phase to its conclusion. In most cases the conclusion is hopefully successful. But that is highly dependent on how well the project is planned out by the managers.
To quality as a project process it must be an action that assists in the progression of the deliverable to a successful conclusion either directly or indirectly. There are eleven different project processes that are included in nearly every project being run in the manufacturing sector of the business world.
The project process list includes the project management process, time management process, cost management process, quality management process, change management process, risk management process, issue management process, tender management process, procurement management process, acceptance management process and communications management process. Each one plays a critical role on how the deliverable is created, funded, checked and concluded so a positive revenue stream is created.
The time management project process is one that has finite resources. While you can always find more raw materials, manpower and funding, time is limited. Once a specific time has passed, it is gone forever and can never be recreated or produced again. This is the most valuable resource that cannot be wasted under any circumstances.
The cost management project process is another critical one that a manager can recover from if the budget is not spent wisely, but there is usually a cost in reputation and in some cases position within the company. Learning to use money wisely is a top propriety of a project manager. One of the leading reasons a project is not considered a success is due to cost overruns. In a few instances the extra costs make the deliverable a non-profitable entity which makes all the time and resources spent on it a waste.
Managing each project process during the life cycle of a project is critical to the health of the deliverable and the business that has undertaken it. By reducing waste wherever possible is the best way to be successful. It is also the best way for a project manager to keep their job and position within a company.