Reference no: EM131680930

Project management is no small task, which is why it’s normally divided into multiple phases. The fundamentals of project management are the same regardless of the field. “A project life cycle can have many phases and each phase can consist of any activities from these process groups: initiation, planning, executing, monitoring & controlling, and closing. The phases are generally sequential and can overlap” (pmstudycircle.com). A project life cycle is the series of phases that a project passes through from its initiation to its closure (PMI, 2013, p.38). the cycle starts from the moment the idea is thought of until it retired. The stages of the life cycle include: development, introduction, growth, maturity, and retirement. A project process groups is the guidance in applying applicable project management knowledge and skills to the project. It consists of five groups: initiating, planning, executing, monitoring and closing. The main difference between a project life cycle and a process group is project life cycle seems to be more specific while process groups are more general. Although there seems to be slights differences among these categories, they are related to each other in most cases.