Which of the following are the five phases of project management according to PMI?

The five phases of project management, as defined by the Project Management Institute (PMI), include Initiating, Planning, Executing, Monitoring and Controlling, and Closing. This framework provides a structured approach to managing projects, ensuring that each phase is completed thoroughly before moving on to the next.

In the Initiating phase, project goals, scope, and stakeholders are identified, laying the foundation for the project. The Planning phase follows, where detailed project plans are developed to guide the execution. Executing involves implementing the project plans and performing the work defined, ensuring that deliverables are produced. Monitoring and Controlling occur concurrently with Executing, as project managers track progress and make necessary adjustments to keep the project on track. Finally, the Closing phase wraps up all activities, finalizes deliverables, and concludes the project officially.

Each of these elements is crucial for effective project management, ensuring that projects meet their objectives and are completed on time and within budget. The structure laid out by PMI allows project managers to systematically manage the complexities and variabilities that come with different projects.