The project management framework provides a strong link between strategy execution, reporting, risk management, and overall project implementation. At The Administration for Local Economic Development and Investments, we utilize five process groups in project management: Project Initiation – This phase involves preparing an idea for approval to further develop the project. The basic project structure is created during this stage. Project Planning – In this phase, the entire project workflow is planned, including: What needs to be done How it will be executed When the planned activities will take place Who will be responsible for implementation How the process will be monitored and controlled Most project management processes fall into this category, and project managers consider thorough planning essential to project success. Project Execution – This is when the actual work happens. It also includes communication management, quality control, risk management, and team coordination. Project Monitoring and Control – This phase overlaps with all others and ensures project implementation aligns with the plan. It includes scope, timeline, and budget control. Project Closure – At this point, the project has either achieved its goals or failed, and closing procedures are carried out to finalize the project. There are a total of 49 processes within these five process groups. Their implementation provides an effective project management structure, significantly increasing the chances of successful project realization.