Question #5.Process Group- How much time and money is typically spent on projects in each of the process group. Assume that you have one year and $100,000 to spend. Justify your answer.

5) Process Group- How much time and money is typically spent on projects in each of the process group. Assume that you have one year and $100,000 to spend. Justify your answer.

·        Initiating Process

In this process the project is defined and authorized, Alpha Project Managers recommend that it should take 2% of the total time. For one year project this process group would take 1 week (7 days) and $2000.

·        Planning process

This process group includes scheduling and planning the project. Spending enough time on planning is going to reduce the executing time, and should be around 21% of the total time, in this case 2 months (76 days) and $21000.

·        Executing process

In this process group the plans are executed to produce products or services. The most time of the project should be spent on executing, 69%. For this case this process should take 251 days and $69000.

·        Monitoring and controlling process

This process group includes measuring and monitoring the progress of the project to ensure the team meets the objectives, to take corrective actions if necessary. Keeping track of the project is necessary along the duration of the project, but it is estimated to take the 5% of the total time. In this case 18 days and $5000.

·        Closing process

In this process the project is closed and the acceptance is formalized. This process should take 3% of the time, 10 days and $3000.

      Posted by Daniel Vasquez