Project Management Process refers to the procedural aspect of undertaking a project. It gives the manager project management methodology to effectively handle the project as the steps become complicated.
Whatever may be the nature of the work, project management process determines how to start the project and how to end it as well. There are four major stages in the process: initiation, planning, execution, and evaluation.
The initiation process refers to the determination of the feasible time to continue with the activity. The project managers will identify the problems and weigh in all possible opportunities. The managers will provide insights on how to resolve the situation.
At this stage, it is expected to come up with a solution deemed workable to a particular situation. Upon approval of the recommendation, the managers will briefly give the main points and define the scope and structure of the project.
Planning starts with a preliminary description of the plan to establish the fact that the proposed project can be executed. The project manager will try to succinctly lay down a plan and explain how it will benefit the company. Afterwards, a detailed planning will be started to delineate the scope, budget, key requirements, estimated time to finish the project and the peculiarities, if any. A typical process will make use of a process group to define the parameter of the work to be performed by each group.
The execution process refers to the point of implementing the plan. The predetermined process is carefully executed by the process group to accomplish the project. The manager is expected to submit a report about the progress of the project on a regular basis. The manager should be keen enough to modify the plan to make it conform to the current situation and be able to hit the target. He/she must be able to propose any changes which he/she deems appropriate.
The last stage is the evaluation. At this phase, the project will be evaluated whether the envisioned benefit was realized. And using project management software, the actual costing will be reviewed to see whether the project was completed in accordance with the proposed budget.