PS 101 · PROCESS OVERVIEW

What is Project System?

Structure, schedule, execute, and financially control temporary work across capital, customer, internal, maintenance, and manufacturing scenarios.

How the lifecycle works

1. 01

   Initiate

   Define the temporary objective, sponsor, responsibility, dates, and intended financial outcome.

   Creates Governed mandate

2. 02

   Structure

   Break work into WBS elements and, where useful, networks, activities, relationships, milestones, and components.

   Creates Shared delivery model

3. 03

   Plan

   Plan dates, resources, cost, revenue, procurement, funding, capacity, and risks.

   Creates Approved baseline

4. 04

   Execute and control

   Release, procure, confirm, post, measure progress, compare plan with actuals, and manage change.

   Creates Explainable performance

5. 05

   Settle and close

   Perform period-end accounting, settlement or revenue recognition, complete deliverables, and preserve evidence.

   Creates Closed project