ABSTRACT
Managers and practitioners who work internally in a large corporation using project charge-out, often called an internal economy, have a similar dilemma, as they must deal with both business and project issues. A good project manager always has a grasp on general management principles. PMBOK standard views project management as a collection of processes, with supporting techniques. The framework offered by PRINCE2 is based on eight interacting high-level processes: directing, start-up, initiating, planning, controlling a stage, managing delivery, managing stage boundaries, and closing. The commercial project environment (CPE) framework provides context for the methods deemed to contribute to commercial projects. Sometimes, to reduce the project lifecycle schedule, waterfall phases may be overlapped, though this naturally increases risk. The architecture is founded upon the two lifecycles: one that describes the project work and the other, the vendor's sales and delivery cycle. The project lifecycle is managed by applying the functions of project management and a small set of core processes.
