A Guide to the Project Management Body of Knowledge (PMBOK® Guide) | Project Management Institute

Summary of: A Guide to the Project Management Body of Knowledge (PMBOK® Guide)
By: Project Management Institute

Introduction

Dive into the sixth edition of the Project Management Institute’s definitive guide on project management – A Guide to the Project Management Body of Knowledge (PMBOK® Guide). This comprehensive manual covers every aspect of project management, from the project manager’s role to scheduling and cost management, along with valuable insights on adaptive project management for today’s fast-paced business environment. Throughout this summary, you will explore the processes, knowledge areas, and standards that professionals from all industries can apply to make their projects successful and drive value creation in their organizations.

Comprehensive Guide to Project Management

The Project Management Institute is a global organization that believes in the power of successful project management to drive change, value creation, and adaptation across all organizations. Their sixth edition guide offers practitioners, business leaders, and students a comprehensive approach to all aspects of project management. Covering every knowledge area from the role of a project manager to scheduling and cost management, the guide provides timely and valuable advice on adapting to today’s rapidly changing business environment. The guide offers additional detail on project scope, scheduling, and resource management according to the acknowledged practices within the profession set by PMBOK and the American National Standards Institute.

The Essentials of Project Management

Project management involves organizing and carrying out unique projects. It has a long history, seen in the Pyramids and the Great Wall. The process involves five steps: initiating, planning, executing, monitoring and controlling, and closing. The ANSI provides clear definitions of key concepts like project success, stakeholders, and knowledge areas. It also covers the role of the project manager and the project life cycle.

Understanding the Operational Environment

The operational environment of any organization includes both internal and external factors. Internal factors comprise corporate culture, IT assets, facilities, infrastructure, and employees while external factors include, among other things, the competitive landscape, government regulations, and geographical and trade restrictions. These enterprise factors and organizational process assets shape the manner in which a company operates. Therefore, understanding the operational environment is critical to sustain business success.

The Role of a Project Manager

A project manager is responsible for leading the project from start to finish. They should have a good understanding of project management as well as technical knowledge and experience, but they don’t need to be experts in every area. The project manager needs to have industry knowledge to manage technical experts and understand the project as a whole.

Streamlining Project Management

The use of Project Integration Management (PIM) is essential to evaluate interdependent project activities. It includes developing a project charter linked to broader corporate objectives and managing resources. The Project Manager is responsible for monitoring and controlling project work, handling project knowledge, performing internal change control, and closing out the project.

Managing Project Scope

Effective project scope management ensures that projects stay on track, define work requirements, control scope, manage and approve changes, and validate completion. By listing project requirements and developing work breakdown structures, it ensures that projects include only the work required to succeed. The process creates a detailed baseline and procedures for maintaining control of changes.

Streamlining Project Scheduling

The book accentuates on the importance of project scheduling in tracking performance and relaying essential information to stakeholders and management. The process involves developing a plan, defining activities, sequencing, estimating the time required, and creating a schedule document. This process can be made simpler through the use of scheduling software and visual representations like Gantt charts. Proper management of the project schedule is crucial for successful project execution.

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