Final answer:
A process group is a logical grouping of project management processes to achieve specific project objectives. There are five process groups in project management: Initiating, Planning, Executing, Monitoring and Controlling, and Closing.
Step-by-step explanation:
A process group is a logical grouping of project management processes to achieve specific project objectives. Process groups are independent of project phases. They represent the different stages or areas of project management that are necessary to complete a project successfully.
There are five process groups in project management:
- Initiating: This is the process group where the project is defined, authorized, and a project manager is assigned.
- Planning: This involves creating a detailed project plan, identifying the project scope, creating a schedule, and developing a budget.
- Executing: In this process group, the project plan is put into action, and different project tasks are executed.
- Monitoring and Controlling: This involves tracking the project's progress, monitoring project variables, and taking corrective actions as needed.
- Closing: This is the process group where the project is completed, and any necessary documentation and reports are prepared.