47 Processes with their main purpose and key benefits

In continuation with my other articles, here you will find the purpose and key benefit of each of the 47 Processes described in the PMBOK(R) 5th Edition. The list below is produced from PMBOK(R) 5th Edition. If you have doubts about the purpose and what is the key benefit of a process, refer them here.

Develop Project Charter			Knowledge Area	Integration	Process Group	Initiating
Purpose	The process of developing a document that formally authorizes the existence of a Project and provides the Project Manager with the authority to apply Organizational resources to Project Activities
Key Benefit	Well defined Project Start and boundaries, creation of a formal record of the project and a direct way for senior management to formally accept and commit to the project.
Develop Project Management Plan			Knowledge Area	Integration	Process Group	Planning
Purpose	The process of defining, preparing and co-ordinating all subsidiary plans and integrating them into a comprehensive project management plan.
Key Benefit	Central Document that defines the basis of all the project work
Direct and Manage Project Work			Knowledge Area	Integration	Process Group	Executing
Purpose	The process of leading and performing the work defined in the Project Management Plan and implementing approved changes to achieve Project's objectives.
Key Benefit	It provides the overall management of the Project Work.
Monitor and Control Project Work			Knowledge Area	Integration	Process Group	Monitoring and Controlling
Purpose	The process of Tracking, reviewing and reporting project progress against the performance objectives defined in the Project Management Plan.
Key Benefit	It allows stakeholders to understand the current state of the project, the steps taken, and budget, schedule and scope forecasts
Perform Integrated Change Control			Knowledge Area	Integration	Process Group	Monitoring and Controlling
Purpose	The process of reviewing all Change Requests, approving changes and managing changes to deliverables, organizational process assets, project documents and the Project Management Plan, and communicating their disposition.
Key Benefit	It allows for documented changes within the project to be considered in an integrated fashion while reducing project risk, which often arises from changes made without consideration to the overall project objectives or plans
Close Project or Phase			Knowledge Area	Integration	Process Group	Closing
Purpose	The process of finalizing all activities across all the Project Management Progress Groups to formally complete the phase or the project.
Key Benefit	It provides lessons learned, the formal ending of the project work, and release of organizational resources to pursue new endeavours
Plan Scope Management			Knowledge Area	Scope	Process Group	Planning
Purpose	The process of creating a scope management plan that documents how the project scope will be defined, validated and controlled
Key Benefit	It provides guidance and direction on how scope will be managed throughout the project.
Collect Requirements			Knowledge Area	Scope	Process Group	Planning
Purpose	The process of determining, documenting, and managing stakeholder needs and requirements to meet project objectives.
Key Benefit	It provides the basis for defining and managing the project scope including product scope.
Define Scope			Knowledge Area	Scope	Process Group	Planning
Purpose	The process of developing a detailed description of the product and project.
Key Benefit	It describes the product, service or result boundaries by defining which of the requirements collected will be included in and excluded from the project scope.
Create WBS			Knowledge Area	Scope	Process Group	Planning
Purpose	The process of subdividing project deliverables and project work into smaller, more manageable components
Key Benefit	It provides a structured vision of what has to be delivered.
Validate Scope			Knowledge Area	Scope	Process Group	Monitoring and Controlling
Purpose	The process of formalizing acceptance of the completed project deliverables.
Key Benefit	It brings objectivity to the acceptance process and increases the chances of final product, service or result acceptance by validating each deliverable.
Control Scope			Knowledge Area	Scope	Process Group	Monitoring and Controlling
Purpose	The process of monitoring the status of the project and product scope and managing changes to the scope baseline
Key Benefit	It allows the scope baseline to be maintained throughout the project.
Plan Schedule Management			Knowledge Area	Time	Process Group	Planning
Purpose	The process of establishing the policies, procedures and documentation for planning, developing, managing, executing and controlling the project schedule
Key Benefit	It provides the guidance and direction on how the project schedule will be managed throughout the project.
Define Activities			Knowledge Area	Time	Process Group	Planning
Purpose	The process of identifying and documenting specific actions to be performed to produce the product deliverables.
Key Benefit	To breakdown work packages into activities that provide a basis for estimating, scheduling, executing, monitoring and controlling the project work.
Sequence Activities			Knowledge Area	Time	Process Group	Planning
Purpose	The process of identifying and documenting relationships among the project activities
Key Benefit	It defines the logical sequence of work to obtain the greatest efficiency given all project constraints.
Estimate Activity Resources			Knowledge Area	Time	Process Group	Planning
Purpose	The process of estimating the type and quantity of materials, human resources, equipment, or supplies required to perform each activity.
Key Benefit	It identifies the type, quantity and characteristics of resources required to complete the activity which allows more accurate cost and duration estimates.
Estimate Activity Durations			Knowledge Area	Time	Process Group	Planning
Purpose	The process of estimating the number of work periods needed to complete individual activities with estimated resources.
Key Benefit	It provides the amount of time each activity will take to complete, which is a major into the Develop Schedule process.
Develop Schedule			Knowledge Area	Time	Process Group	Planning
Purpose	The process of analysing activity sequences, durations, resource requirements and schedule constraints to create the project schedule model
Key Benefit	By entering schedule activities, durations, resources, resource availabilities and logical relationships into the scheduling tool, it generates the scheduling model with planned dates for completing project activities.
Control Schedule			Knowledge Area	Time	Process Group	Monitoring and Controlling
Purpose	The process of monitoring the status of the project activities to update project progress and manage changes to schedule baseline to achieve the plan.
Key Benefit	It provides the means to recognize deviation from the plan and take corrective and preventive actions thus minimize risk.
Plan Cost Management			Knowledge Area	Cost	Process Group	Planning
Purpose	The process that establishes the policies, procedures and documentation for planning, managing, expending, and controlling project costs.
Key Benefit	It provides guidance and direction on how project costs will be managed through out the project work.
Estimate Costs			Knowledge Area	Cost	Process Group	Planning
Purpose	The process of developing an approximation of the monetary resources needed to complete project activities.
Key Benefit	It determines the amount of cost required to complete the project work.
Determine Budget			Knowledge Area	Cost	Process Group	Planning
Purpose	The process of aggregating the estimated costs of individual activities or work packages to establish an authorized cost baseline.
Key Benefit	It determines the cost baseline against which the project performance can be monitored and controlled.
Control Costs			Knowledge Area	Cost	Process Group	Monitoring and Controlling
Purpose	The process of monitoring the status of the project to update project costs and manage changes to the cost baseline
Key Benefit	It provides a means to recognize variance from the plan in order to take corrective action and minimize risk.
Plan Quality Management			Knowledge Area	Quality	Process Group	Planning
Purpose	The process of identifying quality requirements and/or standards for the project and its deliverables and documenting how the project will demonstrate compliance with quality requirements.
Key Benefit	It provides guidance and direction on how Quality will be managed and validated throughout the project.
Perform Quality Assurance			Knowledge Area	Quality	Process Group	Executing
Purpose	The process of auditing the quality requirements and results from quality control measurements to ensure that appropriate quality standards and operational definitions are used.
Key Benefit	It facilitates the improvement of quality processes.
Control Quality			Knowledge Area	Quality	Process Group	Monitoring and Controlling
Purpose	The process of monitoring and recording the results of executing the quality activities to assess performance and recommend necessary changes.
Key Benefit	1) Identifying the causes of poor process or product quality and recommending and/or taking action to eliminate them 2) Validating that project deliverables and work meet the requirements specified by key stake holders necessary for final acceptance.
Plan HR Management			Knowledge Area	HR	Process Group	Planning
Purpose	The process of identifying and documenting project roles, responsibilities, required skills, reporting relationships and creating a staff management plan.
Key Benefit	It establishes project roles and responsibilities, project organization charts, and the staff management plan including timetable for staff acquisition and release.
Acquire Project Team			Knowledge Area	HR	Process Group	Executing
Purpose	The process of confirming human resource availability and obtaining the team necessary to complete project activities.
Key Benefit	Outlining and guiding the team selection and responsibility assignment to obtain a successful team.
Develop Project Team			Knowledge Area	HR	Process Group	Executing
Purpose	The process of improving competencies, team member interaction, and overall team environment to enhance project performance.
Key Benefit	It results in improved team work, enhanced people skills and competencies, motivated employees, reduced staff turnover rates, and improved overall project performance.
Manage Project Team			Knowledge Area	HR	Process Group	Executing
Purpose	The process of tracking team member performance, providing feedback, resolving issues and managing changes to optimize project performance.
Key Benefit	It influences team behaviour, manages conflict, resolve issues and appraises team member performance
Plan Communications Management			Knowledge Area	Communications	Process Group	Planning
Purpose	The process of developing an appropriate approach and plan for project communications based on stakeholder's information needs and requirements, and available organizational assets
Key Benefit	It identifies and documents the approach to communicate most effectively and efficiently with stakeholders.
Manage Communications			Knowledge Area	Communications	Process Group	Executing
Purpose	The process of Creating, collecting, distributing, storing, retrieving and the ultimate disposition of project information in accordance with the communications management plan.
Key Benefit	It enables an efficient and effective communications flow between project stakeholders.
Control Communications			Knowledge Area	Communications	Process Group	Monitoring and Controlling
Purpose	The process of monitoring and controlling communications throughout the entire project life cycle to ensure the information needs of the project stakeholders are met.
Key Benefit	It ensures an optimal information flow among all communication participants, at any moment in time.
Plan Risk Management			Knowledge Area	Risk	Process Group	Planning
Purpose	The process of defining how to conduct risk management activities for a project.
Key Benefit	It ensures that the degree, type and visibility of risk management are commensurate with both the risk and importance of the project to the organization.
Identify Risks			Knowledge Area	Risk	Process Group	Planning
Purpose	The process of determining which risks may affect the project and documenting their characteristics
Key Benefit	Documentation of existing risks and the knowledge and ability it provides to the project team to anticipate events.
Perform Qualitative Risk Analysis			Knowledge Area	Risk	Process Group	Planning
Purpose	The process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact
Key Benefit	It enables Project Managers to reduce the level of uncertainty and to focus on high-priority risks.
Perform Quantitative Risk Analysis			Knowledge Area	Risk	Process Group	Planning
Purpose	The process of numerically analysing the effect of identified risks on overall project objectives.
Key Benefit	It produces quantitative risk information to support decision making in order to reduce project uncertainty
Plan Risk Responses			Knowledge Area	Risk	Process Group	Planning
Purpose	The process of developing options and actions to enhance opportunities and to reduce threats to project objectives.
Key Benefit	It addresses the risks by their priority, inserting resources and activities into the budget, schedule and project management plan as needed.
Control Risks			Knowledge Area	Risk	Process Group	Monitoring and Controlling
Purpose	The process of implementing risk response plans, tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process effectiveness throughout the project.
Key Benefit	It improves the efficiency of risk approach throughout the project life cycle to continuously optimize risk responses.
Plan Procurement Management			Knowledge Area	Procurement	Process Group	Planning
Purpose	The process of documenting project procurement decisions, specifying the approach, and identifying potential sellers.
Key Benefit	It determines whether to acquire outside support and if so how to acquire it, how much is needed and when to acquire it.
Conduct Procurements			Knowledge Area	Procurement	Process Group	Executing
Purpose	The process of obtaining seller responses, selecting a seller, and awarding a contract.
Key Benefit	It provides the alignment of internal and external stakeholder expectations through established agreements.
Control Procurements			Knowledge Area	Procurement	Process Group	Monitoring and Controlling
Purpose	The process of managing procurement relationships, monitoring contract performance and making changes and corrections as appropriate.
Key Benefit	It ensures that both the Seller's and Buyer's performance meets procurement requirements according to the terms of the legal agreement.
Close Procurements			Knowledge Area	Procurement	Process Group	Closing
Purpose	The process of completing each project procurement.
Key Benefit	It documents agreements and related documentation for future reference.
Identify Stakeholders			Knowledge Area	Stakeholders	Process Group	Initiating
Purpose	The process of identifying the people, groups, or organizations that could impact or be impacted by a decision, activity, or outcome of the project, and analyzing and documenting relevant information regarding their interests, involvement, interdependencies, influence, and potential impact on project success.
Key Benefit	It allows the Project Manager to identify the appropriate focus for each stakeholder or group of stakeholders.
Plan Stakeholder Management			Knowledge Area	Stakeholders	Process Group	Planning
Purpose	The process of developing appropriate management strategies to effectively engage stakeholders throughout the project life cycle, based on analysis of their needs, interests and potential impact on project success.
Key Benefit	It provides a clear and actionable plan to interact with project stakeholders to support the project's interests.
Manage Stakeholder Engagement			Knowledge Area	Stakeholders	Process Group	Executing
Purpose	The process of communicating and working with stakeholders to meet their needs/expectations, address issues as they occur, and foster appropriate stakeholder engagement in project activities throughout the project life cycle.
Key Benefit	It allows the Project Manager to increase support and minimize resistance from stakeholders, significantly increasing the chances to achieve project success.
Control Stakeholder Engagement			Knowledge Area	Stakeholders	Process Group	Monitoring and Controlling
Purpose	The process of monitoring overall project stakeholder relationships and adjusting strategies and plans for engaging stakeholders.
Key Benefit	It will maintain or increase the efficiency and effectiveness of stakeholder engagement activities as the project evolves and its environment changes.