The Project Management Body of Knowledge (PMBOK) is a guide that provides the basis for the profession of project management. The guide is produced by the Project Management Institute (PMI), which is the world’s largest project management member association. PMBOK covers five basic process groups that are common to most projects, regardless of industry or application. The five process groups are Initiating, Planning, Executing, Monitoring and Controlling, and Closing.
PMBOK stands for “Project Management Body of Knowledge”. It is an internationally accepted standard for project management that has been developed and maintained by the Project Management Institute (PMI). It is a methodology that helps organizations to manage projects more effectively.
This standard provides guidance for managing the different phases of project management, including project planning and execution, as well as monitoring and control. It also provides a framework for project managers to follow in order to ensure successful execution of the project.
Become a PMP Certified professional by learning this HKR PMP Training!
The first version of the PMBOK Guide was released in 1996. It was originally published by Project Management Institute (PMI) and has been updated several times since then. The first edition was a revolutionary set of standards in project management, and contained information on 37 processes and nine different knowledge areas.
The PMBOK is revised every four years, and at the proper time, a new edition is released. The latest version of the PMBOK Guide is 7th Edition, which was published in 2021. The PMBOK Guide is based on a set of principles that were established by project management experts over decades of real-world experience.
The PMBOK guide helps organizations manage projects more effectively by providing them with a methodical approach that is supported by evidence-based research. It also allows project managers to communicate their plans effectively while ensuring consistent results across different projects managed by different people.
Here's a rundown of the benefits of using the PMBOK:
PMBOK has helped many people across the world get their project management certification. It has helped them understand more about what they want to do in life as well as how they can start doing it.
The PMBOK provides a tested methodology for project management. It also includes the latest techniques and practices that are used by successful project managers across the world. The guide is written by subject matter experts in the field of project management who have many years of experience in managing projects successfully.
The PMBOK guide is written in a way that allows project managers to expand their experience into other industries. It covers aspects of project management and shows you how to apply your skills in any industry. The guide also includes information regarding different types of projects.
The PMBOK guide is a comprehensive resource that can help you reduce overhead costs related to project management. It helps you manage your projects more efficiently, which in turn reduces the amount of time and money spent on them.
The guide helps you standardize your projects by providing a set of best practices and guidelines. It allows you to share these techniques with the rest of the team, which helps ensure that each project is managed in a similar way. This makes it easier for people to learn new skills and apply them across different projects.
The PMBOK is a guide for project managers. It features five major components, namely Introduction, Framework, Tools and Techniques, Appendices, and Summary. The most important is the Framework section which explains how projects are managed using six processes (e.g., initiation, planning, execution, monitoring & control).
PMBOK describes six project management processes that are used to manage a project. These processes are:
1. Initiating Process Group: This process group is responsible for starting the project, including defining its scope and objectives, creating a business case, and making sure stakeholders agree on what needs to be done.
2. Planning Process Group: This process group focuses on deciding how the project will be carried out (i.e., what activities will be performed), when they should take place (i.e., schedule), and who will perform them.
3. Executing Process Group: This process group focuses on performing the project’s activities, monitoring results against expectations and making adjustments as necessary.
4. Monitoring and Controlling Process Group: This process group ensures that the project is being carried out properly and provides feedback so it can adjust its plans if needed.
5. Closing Process Group: This process group focuses on completing all the project’s activities and reporting results to stakeholders. It also includes activities such as documenting lessons learned from the project so they can be applied in future projects.
There are nine knowledge areas of project management, which include:
1. Integration: This area focuses on the integration of all the project’s components. It involves assigning responsibilities to different individuals and teams so they can work together effectively.
2. Scope: This area focuses on planning and managing the project’s scope, which includes defining the project’s objectives and requirements as well as making sure they don’t change over time.
3. Time: This area focuses on planning, monitoring and controlling the project’s schedule so it can be completed within its constraints.
4. Cost: This area focuses on planning, monitoring and controlling the project budget so that it doesn’t exceed its allocated funds.
5. Quality: This area focuses on planning, monitoring and controlling the project’s quality so that it meets its requirements.
6. Procurement: This area focuses on planning, monitoring and controlling the project’s procurement so that it can be completed within its constraints.
7. Human Resource Management: This area focuses on planning, monitoring and controlling the project’s human resources so that they are available when required.
8. Communications: This area focuses on planning, monitoring and controlling communications within and between teams to ensure that they are efficient.
9. Risk Management: This area focuses on planning, monitoring and controlling the project’s risks so that they don’t have an impact on its delivery.
Project management is a complex process that requires careful planning and implementation. By following the best practices outlined in the PMBOK, you can ensure that your project stays on track and delivers the expected results.
Batch starts on 6th Dec 2022, Weekday batch
Batch starts on 10th Dec 2022, Weekend batch
Batch starts on 14th Dec 2022, Weekday batch