Project Management

PMBOK
• The Project Management Body of Knowledge is a set
of standard terminology and guidelines (a body of
knowledge) for project management.
• The body of knowledge evolves over time and is
presented in A Guide to the Project Management Body
of Knowledge (the Guide to the PMBOK or the Guide).
• The Guide is a document resulting from work overseen
by the Project Management Institute (PMI), which
offers the CAPM and PMP certifications.
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• Much of the PMBOK Guide is unique to project
management such as critical path method and work
breakdown structure (WBS). 
• The PMBOK Guide also overlaps with general
management regarding planning, organizing, staffing,
executing and controlling the operations of an
organization.
• Other management disciplines which overlap with the
PMBOK Guide include financial forecasting, organizational
behavior, management science, budgeting and other
planning methods.
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• Earlier versions of the PMBOK Guide were recognized
as standards by the American National Standards
Institute (ANSI) which assigns standards in the United
States (ANSI/PMI 99-001-2008) and the Institute of
Electrical and Electronics Engineers (IEEE 1490-2011).[
• The Guide was first published by the Project
Management Institute (PMI) in 1996.
• The PMBOK Guide is intended to be a "subset of the
project management body of knowledge that is
generally recognized as a good practice
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• 'Generally recognized' means the knowledge
and practices described are applicable to most
projects most of the time and there is a
consensus about their value and usefulness
• 'Good practice' means there is a general
agreement that the application of the
knowledge, skills, tools, and techniques can
enhance the chance of success over many
projects.
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•
  This means that sometimes the "latest" project management trends,
often promoted by consultants, may not be part of the latest
version of The PMBOK Guide.
• The PMBOK Guide is process-based, meaning it describes work
as being accomplished by processes. This approach is consistent
with other management standards such as ISO 9000 and
the Software Engineering Institute's CMMI. Processes overlap
and interact throughout a project or its various phases.
• The PMBOK as described in the Guide recognizes 49 processes
that fall into five basic process groups and ten knowledge areas
that are typical of most projects, most of the time.
 PMBOK- Process Groups
Process groups
The five process groups are:
• Initiating: processes performed to define a new project or a new phase of
an existing project by obtaining authorization to start the project or phase.
• Planning: Those processes required to establish the scope of the project,
refine the objectives, and define the course of action required to attain
the objectives that the project was undertaken to achieve.
• Executing: Those processes performed to complete the work defined in
the project management plan to satisfy the project specifications
• Monitoring and Controlling: Those processes required to track, review,
and regulate the progress and performance of the project; identify any
areas in which changes to the plan are required; and initiate the
corresponding changes.
• Closing: Those processes performed to finalize all activities across all
Process Groups to formally close the project or phase.
 PMBOK-Knowledge Areas
Knowledge areas
• The ten knowledge areas, each of which contains some or
all of the project management processes, are:
• Project Integration Management : the processes and
activities needed to identify, define, combine, unify, and
coordinate the various processes and project management
activities within the project management process groups.
• Project Scope management : the processes required to
ensure that the project includes all the work required, and
only the work required, to complete the project
successfully.
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• Project Schedule Management : the processes required to
manage the timely completion of the project. Until the 6th
edition of the PMBOK Guide this was called "Project Time
Management"
• Project Cost Management : the processes involved in planning,
estimating, budgeting, financing, funding, managing, and
controlling costs so that the project can be completed within the
approved budget.
• Project Quality Management : the processes and activities of
the performing organization that determine quality policies,
objectives, and responsibilities so that the project will satisfy the
needs for which it was undertaken.
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• Project Resource Management : the processes that organize,
manage, and lead the project team. Until the 6th edition of the
PMBOK Guide this was called "Project Human Resource
Management"
• Project Communications Management : the processes that are
required to ensure timely and appropriate planning, collection,
creation, distribution, storage, retrieval, management, control,
monitoring, and the ultimate disposition of project information.
• Project Risk Management : the processes of conducting risk
management planning, identification, analysis, response
planning, and controlling risk on a project.
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• Project Procurement Management : the processes necessary to
purchase or acquire products, services, or results needed from
outside the project team. Processes in this area include
Procurement Planning, Solicitation Planning, Solicitation,
Source Selection, Contract Administration, and Contract
Closeout.
• Project Stakeholder Management : the processes required to
identify all people or organizations impacted by the project,
analyzing stakeholder expectations and impact on the project,
and developing appropriate management strategies for
effectively engaging stakeholders in project decisions and
execution.
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• Each of the ten knowledge areas contains the
processes that need to be accomplished
within its discipline in order to achieve
effective project management. Each of these
processes also falls into one of the five process
groups, creating a matrix structure such that
every process can be related to one
knowledge area and one process group.