Contents are sourced from different authors including PMBOK 5th Edition.
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Project Life CycleInitiating Process Group.Those processes performed to deﬁne a new project or a new phase of anexisting project by obtaining to start the project or phase.
Project Life CyclePlanning Process Group.Those processes required to establish the scope of the project, reﬁne theobjectives, and deﬁne the course of action required to attain the objectivesthat the project was undertaken to achieve.
Project Life CycleExecuting Process Group.Those processes performed to complete the work deﬁned in the projectmanagement plan to satisfy the project speciﬁcations.
Project Life CycleMonitoring & Controlling Process Group.Those processes required to track, review, and regulate the progressand performance of the project; identify any ares in which changes tothe plan are required; and initiate the corresponding changes.
Project Life CycleClosing Process Group.Those processes performed to ﬁnalize all activities across all Process Groupsto formally close the project or phase.
Project Integration: "Getting the job done"4.1. Getting the project charter approved to be authorized to control the budget and assign resources4.2. Planning all of the work thats going to happen throughout the project4.3. Directing the work once it gets started4.4. Monitoring the way the work progresses and looking for potential problems4.5. Looking out for changes, understanding their impacts, and making sure they dont derail theproject4.6. Closing out the project and making sure that there are no loose ends when its over
And remember,in each failed contracted servicethere is a frustrated project manager
Procurement is an Intuitive ProcessPlan what to contractPlan how to contractContact Sellers re.RequirementsSellers bid for a contractSelect best SellerSign contract with SellerMonitor adherence toagreed contractClose out Contract
Major Types of Procurement ContractFixed-PriceCost-ReimbursableTime & MaterialPay a ﬁxed amount regardless of how much it costs thecontractor to do the work. This is applicable if the scope of workis very much deﬁned and ﬁxed.Contractor will reimburse incurred project cost. Applicable ifscope of work is deﬁned as the project progressesContractor is paid based on agreed rates ex. Hourly rate, perpiece rate, etc. Applicable if the project timeline or contractperiod is extendable or indeﬁnite.