Final answer:
The correct order of project management processes when executing them for the first time is: Initiating, Planning, Executing, Monitoring and Controlling, Closing. This sequence is crucial for the successful management and completion of a project.
Step-by-step explanation:
When directing and managing the execution of a project, there is a sequential order that is widely recognized and followed as best practice in project management. This order is essential to ensure a project's success from inception to completion. The correct order of executing project management processes for the first time during a project is as follows:
- Initiating
- Planning
- Executing
- Monitoring and Controlling
- Closing
Therefore, out of the options provided, the correct sequence is represented by option 1: Initiating, Planning, Executing, Monitoring and Controlling, Closing. It is crucial to follow this timeline of events to establish a clear cause and effect and maintain the correct analysis throughout the project lifecycle.