The Project Management Body of Knowledge and Key Project Terms
"Project management is the actual use of procedures, techniques, information, capabilities and knowledge to accomplish the particular project goals and objectives."
11 Project Management Concepts
1. Project Management Context
Projects run within surroundings much wider than the actual project by itself. Typically the project management team should fully grasp this wider context daily actions which is critical for success however, not enough.
Businesses executing projects will often break down each and every project in a number of project phases to offer considerably better management control as well as suitable links towards the continuous procedures in the performing company. Jointly, the actual project phases tend to be referred to as project life cycle.
Every project phase will be marked simply by completing a number of deliverables. A good deliverable is actually a concrete, verifiable function for instance a feasibility analysis, some sort of element layout, or perhaps a operating prototype.
2. Project Management Processes
A process is acknowledged as a sequence of activities leading to an outcome. Project processes tend to be carried out by individuals and usually fall under 1 of 2 main groups:
Project management processes tend to be focused on explaining and arranging the job of your project. The particular project management processes which are relevant to the majority of projects, more often than not.
Product-focused processes are generally focused on indicating and resulting in the project product. Product-focused processes usually are described through the project life cycle.
3. Project Integration Management
Project Integration Management consists of processes necessary to make sure that the different aspects of the project will be effectively synchronized. It calls for making trade-offs between competing goals as well as choices to be able to fulfill or go beyond stakeholder requirements and objectives.
Project integration management is necessary whenever a cost estimate is critical for any contingency plan and also whenever risks related to different staffing requirements options should be determined. On the other hand, for any project to get finished effectively, integration should also result from numerous places too. The job in the project has to be incorporated with all the continuing procedures in the performing company.
4. Project Scope Management
Project Scope Management involves processes needed to make certain that the project involves everything necessary, in support of the job needed, to accomplish the project with success. It really is mainly focused on determining and managing what exactly is as well as is simply not within the project.
The main project scope management procedures usually are:
- Project Initiation – placing the business to start the next step in the project.
- Project Scope Planning – preparing a written scope report as being the foundation with regard to upcoming project decisions.
- Project Scope Definition – splitting up the main project deliverables in small, much more controllable elements.
- Project Scope Verification – official approval on the project scope.
- Project Scope Change Control – managing modifications to the project scope.
5. Project Time Management
Project Time Management consists of processes essential to guarantee on time conclusion of the project.
The fundamental procedures at this point involve:
- Project Activity Definition – determine the unique activities that needs to be carried out to provide the different project deliverables.
- Project Activity Sequencing – determining as well as recording the dependencies.
- Project Activity Duration Estimating – calculating how many work periods are going to be required to finish specific activities.
- Project Schedule Development – examining task sequences, task duration, and also resource specifications to generate the actual project schedule.
- Project Schedule Control – handling modifications on the project schedule.
6. Project Cost Management
Project Cost Management involves processes essential to make sure that the project will be done with the accepted budget.
Key processes with regard to cost management can include:
- Project Resource Planning – identifying exactly what resources (individuals, tools, supplies) and amounts that must be utilized to carry out project activities.
- Project Cost Estimating – establishing a good estimate, estimation of your expenses from the resources required to finish project activities.
- Project Cost Budgeting – cost allocating the complete expense estimation towards specific job items.
- Project Cost Control – handling modifications on the project cost budget.
7. Project Quality Management
Project Quality Management consists of processes necessary to be certain that the actual project will certainly fulfill the requirements which is why it had been undertaken. It provides just about all actions from the total management function which identify the actual quality plan, goals, and duties as well as makes use of all of them by means like quality plan, quality management, quality assurance, in addition to level of quality improvement, inside the quality program.
Significant project quality management procedures:
- Project Quality Planning – determining which quality standards will be highly relevant to the actual project as well as figuring out the way to fulfill all of them.
- Project Quality Assurance – analyzing total project performance frequently to deliver assurance that this project will certainly fulfill the appropriate quality standards.
- Project Quality Control – keeping track of particular project outcomes to find out if they conform to related quality standards and also determining methods to reduce causes of ineffective overall performance.
8. Project Human Resource Management
Project Human Resource Management consists of processes needed to exploit efficient use of the individuals associated with the actual project. It provides all of the stakeholders such as project sponsors, customers, specific members, and the like.
Important procedures include things like:
- Project Organizational Planning – determining, recording, and setting project functions, duties, as well as reporting.
- Project Staff Acquisition – obtaining the human resources required designated to as well as implementing the particular project.
- Project Team Development – building personal in addition to team abilities to improve project overall performance.
9. Project Communications Management
Project Communications Management consists of processes essential to ensure prompt and suitable generation, selection, spread, storage, and best disposition associated with project data. It gives you the actual crucial links between people, concepts, and data which are essential for good results.
Every person active in the project should be ready to deliver and obtain communications from the project and also need to know how the actual communications they can be associated with as individuals impact the project all together.
10. Project Risk Management
Project Risk Management contains procedures focused on discovering, examining, and addressing project risk. It offers making the most of the outcomes associated with beneficial activities as well as reducing the results connected with undesirable activities.
Key techniques are usually:
- Project Risk Identification – identifying which risks will probably impact the project in addition to recording the features of each one.
- Project Risk Quantification – analyzing risks as well as risk relationships to evaluate the number of feasible project results.
- Project Risk Response Development – determining improvement steps with regard to opportunities as well as reactions to these risks.
- Project Risk Response Control – addressing modifications in risk throughout the actual project.
11. Project Procurement Management
Project Procurement Management involves techniques necessary to obtain services and products from outside of the executing business.
Main processes can include:
- Project Procurement Planning – identifying what things to procure along with when.
- Project Solicitation Planning – recording product specifications along with determining possible sources.
- Project Solicitation – acquiring estimates, offers or proposals when needed.
- Project Source Selection – selecting from between prospective vendors.
- Project Contract Administration – taking care of the partnership with the vendor.