PMBOK Guide: Five Stages And Phases Of The Pmbok Guide

For every organization, they have their own organizational goals and standards. So based on their goals and standards they have different things to do. The PMBOK® Guide consists of five process groups or phases which are Initiating, planning, executing, monitoring and controlling, closing phases these are the standard practices for a project.
 Initiating process (Schwalbe, 2014): In initiating process phase, the project is defined and given approval for the project. This process is done in each and every phase. A project can have different phases involved but every project includes these five phases. The project manager and team must check every time the requirement of the project at each phase in order to confirm the significance of the project
Planning phase involves completion of the project scope plan, WBS, schedule of the project plan, cost and procurement of the project plan. According to the research study, the organizations need to spend a certain amount of time on planning and initiating phase. These plans address the knowledge areas. In this phase, we need to estimate the cost and obtain resources for the project. The team members need to reassess the plan at each and every phase of the project.
 Executing Process (Schwalbe, 2014): In executing phase the actions are done based on the demand of planning process. The project manager need to concentrate on executing phase along with the planning phase. The quality of the product need to be checked and also need to manage the stakeholders.
 Monitoring and controlling Process (Schwalbe, 2014): The project manager need to monitor the project team from beginning of the project to the end of the project need to verify if any issues to be solved and also need to check whether the objective needs are being met or not. In this phase they need to report the performance of the project and if required changes need to be done to maintain the project on
The PMBOK® Guide is used as a guide for all kinds of projects, even for Agile. Each project team decides based on their unique needs what methods should be considered. To succeed, project teams should have proper planning. Some of the methodologies which are mentioned in the text are “Projects IN Controlled Environments (PRINCE2), Agile Methods, Rational Unified Process Framework and Six Sigma methodologies” (pp 89-90).
Rational Unified Process (RUP) framework (Schwalbe, 2014): This framework is an iteration for software development process which focuses on productivity and delivers good activities to the team members. Cottrell explained that “you can tailor RUP to include the PMBOK process groups because several customers asked for that capability” (Schwalbe, 2014, p. 90).
Agile Methods (Schwalbe, 2014): This method involves the iterative flow of work and delivery of software in less iterations. Agile methods are used more for faster delivery of the project to the customer which considers the business benefits, quality of the product and