Project management is a relatively young practice, and the memory and terminology of many nonstandard PM models are still fresh and, in some cases, still in use. The use of a common base of concepts and a common language of terms is much to be desired in any complex environment. Fortunately, there are project management standards.

The Guide to the PMBOK is a PMI-managed project management global standard. It lays out the fundamental concepts and terms of formal project management. These fundamentals are flexible in implementation. There has also been a wealth of work done to develop industry-specialized project management disciplines and standards.

APP is ready to overhaul its project management practices. Top management is convinced that it will benefit from adopting PMI standards in organizing and managing its projects and is encouraging all of its employees (including you) to discuss the five PMI standard project management process groups and how they relate to each other. Briefly define important terms of these groups. Be sure to reference all sources using APA style.