New horizons project management

The New Horizons project management framework is a structured approach to managing projects that was developed by the Project Management Institute (PMI). It is designed to help project managers plan, execute, and deliver projects successfully. The framework is based on the following five process groups:

  1. Initiating: This process group involves defining the project scope, goals, and deliverables. It also involves identifying the stakeholders and their needs, and establishing the project charter.
  2. Planning: This process group involves developing a detailed project plan, including the scope, schedule, budget, and resources. It also involves identifying and mitigating risks, and developing a communication plan.
  3. Executing: This process group involves carrying out the project plan, including executing the tasks and activities, and managing the project scope, schedule, and budget.
  4. Monitoring and Controlling: This process group involves tracking and controlling the project progress, identifying and correcting deviations from the plan, and taking corrective action as needed.
  5. Closing: This process group involves formally closing the project, documenting lessons learned, and evaluating the project's success.

The New Horizons framework also includes the following nine knowledge areas:

  1. Integration Management: This knowledge area involves coordinating and controlling all aspects of the project, including the scope, schedule, budget, and resources.
  2. Scope Management: This knowledge area involves defining and managing the project scope, including identifying and documenting the project deliverables.
  3. Time Management: This knowledge area involves developing and controlling the project schedule, including identifying and mitigating schedule risks.
  4. Cost Management: This knowledge area involves developing and controlling the project budget, including identifying and mitigating cost risks.
  5. Quality Management: This knowledge area involves ensuring that the project deliverables meet the required quality standards, including identifying and mitigating quality risks.
  6. Resource Management: This knowledge area involves planning, organizing, and controlling the project resources, including identifying and mitigating resource risks.
  7. Communications Management: This knowledge area involves planning, organizing, and controlling the project communications, including identifying and mitigating communication risks.
  8. Risk Management: This knowledge area involves identifying, assessing, and mitigating the project risks, including identifying and mitigating risk-related issues.
  9. Procurement Management: This knowledge area involves planning, organizing, and controlling the project procurements, including identifying and mitigating procurement-related risks.

The New Horizons framework is widely used in the project management industry and is considered a best practice for managing projects. It provides a structured approach to project management that helps project managers plan, execute, and deliver projects successfully.