According to the PMBOK, standard process groups can be created and applied (and edited as needed) for companies. Most companies have a dynamic way of doing their projects and if they are able to pin down the exact way they initiate, execute, and finish, they should be able to create the following archetypes that may be edited as needed:
1. Initiating Processing Group
2. Planning Process Group
3. Executing Process Group
4. Monitoring and Control Process Group
5. Closing Process Group