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It also lays out the roles and responsibilities of business stakeholders and the project team so everyone knows who’s accountable for what. There are a number of the project management knowledge areas that focus on monitoring and control. Controlling cost throughout the project lifecycle. Project stakeholder management.
What are the five major processes of a project? Initiation : The project manager identifies problems, sets clear goals and objectives, and secures stakeholders’ approval. Planning : The team works together to develop a project plan that meets company goals. Closure : The project is completed. Customer checkout.
Project management templates also allow processes to be documented and continually optimized. And, by using a template, you’re not starting from scratch, which reduces the time spent in projectinitiation. The platform to procure materials and maintain documentation. Managing your project budget in monday.com is easy.
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