PROJECT MANAGEMENT

Introduction of Project Management :

A Guide to the Project Management Body of Knowledge (PMBOK Guide) – Fifth Edition provides guidelines for managing individual projects and defines project management related concepts. It also describes the project
management life cycle and its related processes, as well as the project life cycle.

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The PMBOK® Guide contains the globally recognized standard and guide for the project management profession (found in Annex A1). A standard is a formal document that describes established norms, methods, processes, and
practices. As with other professions, the knowledge contained in this standard has evolved from the recognized good practices of project management practitioners who have contributed to the development of this standard.

The first two sections of the PMBOK® Guide provide an introduction to key concepts in the project management field. Section 3 summarizes the Process Groups and provides an overview of process interactions among the ten
Knowledge Areas and five Process Groups. Sections 4 through 13 are the guide to the project management body of knowledge.

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These sections expand on the information in the standard by describing the inputs and outputs, as well as tools and techniques used in managing projects. Annex A1 is the standard for project management and presents
the processes, inputs, and outputs that are considered to be good practice on most projects most of the time.

This section defines several key terms and the relationship among portfolio management, program management, project management and organizational project management. An overview of the PMBOK® Guide is found within the following sections:

Purpose of the PMBOK Guide

The acceptance of project management as a profession indicates that the application of knowledge, processes, skills, tools, and techniques can have a significant impact on project success. The PMBOK® Guide identifies that
subset of the project management body of knowledge that is generally recognized as good practice.

The Five PMBOK Process Groups

“Generally recognized” means the knowledge and practices described are applicable to most projects most of the time, and there is consensus about their value and usefulness. “Good practice” means there is general agreement that the application of the knowledge, skills, tools, and techniques can enhance the chances of success over many projects.

“Good practice” does not mean that the knowledge described should always be applied uniformly to all projects; the organization and/or project management team is responsible for determining what is appropriate for any given project.

What is a Project?

A project is a temporary endeavor undertaken to create a unique product, service, or result. The temporary nature of projects indicates that a project has a definite beginning and end. The end is reached when the project’s
objectives have been achieved or when the project is terminated because its objectives will not or cannot be met, or when the need for the project no longer exists.

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A project may also be terminated if the client (customer, sponsor, or champion) wishes to terminate the project. Temporary does not necessarily mean the duration of the project is short. It refers to the project’s engagement and its longevity.

Temporary does not typically apply to the product, service, or result created by the project; most projects are undertaken to create a lasting outcome. For example, a project to build a national monument will create a result expected to last for centuries. Projects can also have social, economic, and environmental impacts that far outlive the projects themselves.

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