Project Management Fundamentals: PMBOK Terms and Process Groups

PMBOK: Project Management Body of Knowledge

The PMBOK (Project Management Body of Knowledge) is a standardized set of practices in project management. These practices are compiled in a reference document (often referred to as the PMBOK Guide).

Key Functions of the PMBOK

• Provides and promotes a common vocabulary for discussing, writing, and implementing project management concepts.
• Based on processes, it systematically describes the work to be performed throughout the project.

Core Project Management Terminology

Stakeholders Defined

People and organizations whose interests may be affected as a result of the project.

Project Life Cycle

Defines the phases that connect the beginning of a project to its end.

Organizational Influences on Projects

Projects are generally part of an organization that is larger than the project itself. Aspects of the organization, such as its culture, style, and organizational structure, may significantly influence the project's outcome.

Modularization Concept

Modularization is the division of a complex problem into smaller subproblems, allowing the solution to be found separately by solving each subproblem sequentially. This approach acknowledges the difficulty while providing a structured method to solve the overall problem.

The Five Process Groups of the PMBOK

Initiation

Authorization to formally start the project or phase.

Planning

Definition and refinement of goals and the action plan required to achieve them.

Execution

Team coordination aimed at completing the defined work.

Monitoring and Controlling

Tracking and reviewing progress to ensure compliance with targets and achievement of objectives.

Closing

Formalizing the end of the project or phase.

Detailed Activities in Initiation

1. Authorization for the formal start of the project or phase.
2. Determination of business needs.
3. Determination of project objectives, constraints, and initial assumptions.
4. Refinement of scope and necessary project resources.
5. Identification and formalization of the Project Manager.

Key Tasks During Project Planning

1. Definition of the project team.
2. Refining the project scope.
3. Development of the comprehensive project plan.
4. Creation of the schedule and identification of critical paths.
5. Organization and sequencing of project activities.
6. Definition of the project budget and cost baseline.
7. Identification and implementation of contracting services and outsourced products.
8. Risk identification and definition of the strategy for managing them.
9. Definition of the communication strategy.

Core Activities in Project Execution

1. Management of project implementation and team performance.
2. Implementation of the approved project plan.
3. Performing quality assurance activities.
4. Distribution and management of project information.
5. Implementation of regular follow-up meetings.