PMI Project Processes And Knowledge Areas

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Briefly describe the PMI Project Processes and Knowledge Areas and explain why they are important. Where do you think most failures occur in the five-phase life cycle of a project?
1. Describe the five project processes in correct sequence
The first project process is Initiating. Initiating the project involves either starting a completely new project, or a new phase. The project manager and the team must determine the project’s scope. Stakeholders should be identified in this process and authorization should be obtained. Objectives must also be determined in this process. The next process is the planning process. The overall project solution is detailed in this process. The project steps must be developed properly in order to meet the projects
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Describe the ten Knowledge Areas
The first knowledge area is Project Integration Management. This specific area addresses the glue that links all of the deliverables from the process groups into a unified whole. It combines everything together, from the project description document, to the project closure. The second area is Project Scope Management. Identification and documentation of client requirements is the main focus of this area. After following the requirements of gathering and documentation, you choose the best-fit project management life cycle and develop the Work Breakdown Structure.
The third area is Project Time Management. It includes both a planning component, and a control component. The planning component provides estimates for the duration of the project and the actual effort and labor of the project. The controlling component involves comparing estimated times to actual times and managing the schedule and cost variance. The fourth area is Project Cost Management. This also includes a planning and control component. The planning component includes building the project budget and mapping those costs into the project schedule. The control component has to do with variance reports and earned value reports. The fifth area is Project Quality Management. The three processes involved with this area include quality planning, assurance, and control process. Quality refers to if it’s fit for use, meets the client’s needs/requirements, and it delivers on time, within budget, and according to

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