Imagine that you are a new project manager for a major financial institution and you have been invited to be a guest lecturer for a Freshman Project Management course at the local university.

Share how you would describe the overall purpose and mechanics of project management in your lecture. Conduct research and use sources to support your description. Be sure to acknowledge any sources you use.

Five stages of project management:

1. Initiating- in this phase, the project team is assembled and briefed on what the project is.
2. Planning- in this phase, all of the timelines and deliverables, are mapped out.
3. Executing- in this phase, the project is started and tasks are beginning to be worked on.
4. Monitoring and Controlling- in this phase of project management, processes and tasks are being monitored for accuracy and quality.
5. Closing- in this phase, the project has been completed and closed out.