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Project Management Body of Knowledge

The document discusses several key project management concepts from the PMBOK including the definition of a project, the triple constraint of scope, time and cost, the role of a project management office, and the difference between project management which is temporary and unique, and operations which are ongoing and repetitive. It also covers the project life cycle passing through phases and the importance of scope verification and phase exit reviews.

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141 views2 pages

Project Management Body of Knowledge

The document discusses several key project management concepts from the PMBOK including the definition of a project, the triple constraint of scope, time and cost, the role of a project management office, and the difference between project management which is temporary and unique, and operations which are ongoing and repetitive. It also covers the project life cycle passing through phases and the importance of scope verification and phase exit reviews.

Uploaded by

smartman4444
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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I was so impressed with these PMIisms notes that I took some time to update them to PMBOK 4 references.

It became a great study tool. Thanks and here are your notes but updated. !et me know if I erred anywhere.

1. "ccording to the Pro#ect Management Body of Knowledge $PMBOK% a &pro#ect& is a temporary

endea'or undertaken to create a uni(ue product or ser'ice.& ). ** +ompeting ,emands $Triple constraint%- pro#ect scope time cost (uality resources and risk to produce the specified product ser'ice or result. Pg./ .. " portfolio is a collection of pro#ects or programs and other work that are grouped together to facilitate effecti'e management of that work to meet strategic business ob#ecti'es. The pro#ects or programs in the portfolio may not necessarily be interdependent or directly related 4. Pro#ect Portfolio Management is a management process to select the pro#ects that should be in'ested in. 0pecifically it is the selection process based on the need profitability and affordability of the proposed pro#ects. 1. " pro#ect management office $PMO% is an organi2ational unit to centrali2e and coordinate the management of pro#ects under its domain. " PMO can also be referred to as a &program management office & &pro#ect office & or &program office.& " PMO o'ersees the management of pro#ects programs or a combination of both 3. **Pro#ect management is the application of knowledge skills tools and techni(ues to pro#ect acti'ities to meet the pro#ect re(uirements /. The contract between the organi2ation and the 'endor super cedes all other workrelated documents 4. +ustomers internal or e5ternal are the most important stakeholders in a pro#ect 6. 0cope 'erification must take place at the end of each phase 78. Money already spent on a pro#ect is called sunk cost and should not be taken into consideration when determining if a pro#ect should continue. Instead the cost of the work to complete is one of the elements that should be taken into consideration when considering to kill a pro#ect 77. **Phase end re'iews are also called phase e5its milestones phase gates stage gates or kill points. 7). The pro#ect life cycle goes through a series of phases to create the product 7.. Pro#ect managers manage things but lead people. 9hat:s the difference; Management is the process of getting the results that are e5pected by pro#ect stakeholders. !eadership is the ability to moti'ate and inspire indi'iduals to work towards those e5pected results. 74. Pro#ect 7. Pro#ects don:t last fore'er. They are temporary and uni(ue ). Pro#ects pass through logical phases to reach their completion .. Purpose of Pro#ect is to attain its ob#ecti'e and then terminate

71. Operations 7. Operations howe'er do go on and on. They are ongoing and repetiti'e ). Operations may be influenced or e'en created by the outcome of a pro#ect .. Ob#ecti'e of an ongoing operation is to sustain business 4. **Once ob#ecti'es ha'e been met new directions are followed to support the organi2ation:s plans

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