How much time and money is typically spent on projects in each of these process groups?

5. Process Groups - How much time and money is typically spent on projects in each of these process groups. Assume you have one year and $100,000 to spend.  Justify your answer.

In order to manage a project to completion, you must include the following process groups:

The initiation process is when you define the scope of the project, the needs of the customer, hiring the project manager, describing the project and to make sure the project is approved.

Planning the project is when you describe the work the project entails. This includes developing a plan, inquiring about the cost, the estimated time of completion, required resources, project scheduling, etc. During this time, it's best to seek approval to move forward with the project.Time: 1 Year
Estimated Budget : $100k 

Then there's the executing phase where most spend the majority of their time. During this phase you establish a project team and rules, complete the project schedule, describe the project description and get started.
Time to spend: $100k

The monitoring and controlling phase is when you inquire about the project status, risks, performance and any scope changes. This is where you try to resolve any issues or concerns with the customer/client, project team, sponsors, etc.
Over/Under Budget: < $100k >

Finally, you have the closing phase where you summarize overall activities of the entire project. For example; Did you meet the project needs? Did you stay in budget? Is the customer/client satisfied? It's time to close the project and keep records.