Project Initiation

The project initiation stage of project management determines both the nature and scope of the development. If this stage isn't well performed, it is not very likely that the project will be successful in meeting the needs of the organization. The key project controls needed here are an understanding of the business environment and making sure that all necessary controls are incorporated into the project. Any deficiencies should be reported and a recommendation should be made to fix...

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Project Planning

After the initiation stage, the system is designed. Occasionally, a small prototype of the final product is built and tested. Testing is generally performed by a combination of testers and end users, and can occur after the prototype is built or concurrently. Controls should be in place that ensure that the final product will meet the specifications of the project charter. The results of the design stage should include a product design that:

    * Satisfies the project sponsor, end user...

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 Project Execution

Project Execution consists of the processes used to complete the work defined in the project management plan to accomplish the project's requirements. Execution process involves coordinating people and resources, as well as integrating and performing the activities of the project in accordance with the project management plan. The deliverables are produced as outputs from the processes performed as defined in the project management plan.

Controlling and Monitoring 

    * Measuring the...

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 Project Closing

 Closing includes the formal acceptance of the project and the ending thereof. Administrative activities include the archiving of the files and documenting lessons learned. Closing phase consist of two parts:

    * Close project: to finalize all activities across all of the process groups to formally close the project or a project phase
    * Contract closure: necessary for completing and settling each contract, including the resolution of any open items, and closing each contract...

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