Project management involves applying processes, knowledge, skills, and tools to meet project requirements. There are five key project management process groups: initiating, planning, executing, monitoring and controlling, and closing. The initiating process group recognizes and starts a new project. The planning process group develops plans for executing the project. The executing process group produces the project deliverables. The monitoring and controlling process group measures progress and ensures the project stays on track. The closing process group ends the project and assesses lessons learned. Project processes fall into these groups to effectively coordinate project activities from start to finish.