Managing the Projects :- Five process groups (Initiation, Planning, Execution, Monitoring and controlling, Closing) comprise the project management life cycle and are universal to all projects. The specific phases within a project, however, are unique to each project and represent the project life cycle.
Managing the Project Knowledge Areas :- There are ten Project Management knowledge areas (Scope, Schedule, Costs, Quality, Human Resources, Communications, Risk, Procurement, Stakeholder, Integration).