ABSTRACT
The Project Management Body of Knowledge (PMBOK) from the Project Management Institute (PMI) divides projects into five phases. They are as follows: Initiating, planning, execution, monitoring, controlling and closing. Initiating phase includes the initial work necessary to create and authorize the project. Planning the success of the project usually depends on the amount of planning done. During execution phase most of the project work gets done. The PM directs, manages, and monitors the project work, while the project team carries it out. Monitoring and controlling occurs simultaneously as the execution phase. Closing is often ignored because the work is done, or mostly done, the deadline has come or passed, the deliverables have been submitted and team members are being re-assigned or have already left the project. An important aspect of project management is the Triple Constraints, which posit that all projects are subject to constraints impacting scope, budget and timeline.
