Plan introduction, program preparation, project completion, supervising and administering, and concluding are all project management knowledge areas that the method groups agreed on. Therefore, each strategy considers these historical factors.
Sections are used in each of the method accumulations in these knowledge domains. Thus, although the knowledge domains are upright, you can consider the method groups to be parallel.
It’s easy to be intimidated by the wide range of project management tools, terms, skills, and knowledge provided. PMBOK was established to assist in integrating and standardize the numerous aspects of project management.
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What is Project Management Body of Knowledge (PMBOK)?
Project Management Body of Knowledge (PMBOK) is a set of guidelines for project managers. In addition, the Project Management Institute (PMI) publishes and updates a collection of standard project management vocabulary and principles.
What Are the Knowledge Areas of Project Management?
In its A Guide to the Project Management Body of Knowledge (PMBOK), PMI divides the enormous field of project management into ten more digestible pieces, which it refers to as the ten project management knowledge domains.
The process groups of project initiation, project planning, project execution, monitoring and controlling, and project closing correspond to the knowledge domains of project management. Every project goes through these stages to be completed.
During any of these process groups, the knowledge areas take place. The knowledge areas are vertical, whereas the process groups are horizontal. The knowledge areas are the fundamental technical skills required for project management success.
Project Integration Management
What is the glue that keeps a project together? That’s project integration management, which covers things like drafting a project charter during the beginning phase. This document establishes the project’s parameters and names the project manager.
The project management plan, produced as a project roadmap to ensure that the project is completed successfully, is another part of this subject. The project plan is authorized by stakeholders and/or sponsors after it is established, and it is then reviewed and recorded as the project advances through a changelog.
The project integration area also encompasses the planning, directing, and controlling of project activities and the creation of deliverables. To identify and regulate any changes or problems that may arise, this process is monitored, analyzed, and reported on.
Change management will also be implemented. This may necessitate the use of request forms, stakeholder or sponsor permission, or the assistance of another administrator. This area will likewise be included in the project’s final closure.
Project Scope Management
The scope of the project is concerned with the project’s work. As part of the project management plan, this covers plan scope management. It’s also when the final product’s or service’s comprehensive requirements are gathered.
In a statement of scope, you will also have to define scope. This can range from a single statement to a bulleted list, but it should be comprehensive to mitigate significant project risks. Another component of this area is a work breakdown structure (WBS), which is a graphic representation of project work.
Validate scope throughout the project by ensuring that the sponsor or stakeholder approves the deliverables regularly. This happens throughout the monitoring and controlling process groups, and it’s all about accepting the deliverables, not the specifications that were put down during planning.
Project Time Management
It’s no surprise that project time management takes time. The project is divided into tasks, each with its start date and deadline and its budget. And as a project progresses, things change, which necessitates frequent revisions of these documents.
This entails plan schedule management, which is putting together a project schedule and determining who is in charge of what. This entails defining activities, which is analogous to creating a work breakdown structure (WBS). As a result, you make a to-do list that covers all aspects of the project.
The tasks are then arranged in a logical order, with any interdependencies highlighted. For example, Finish-to-start (FS), finish-to-finish (FF), start-to-start (SS), or start-to-finish (STF) dependencies are then calculated (SF). This is usually reserved for more significant projects.
Now that the tasks have been prioritized, the resources required for each must be estimated and assigned. At this time, the duration of each task is also determined. By first selecting the critical path and float for each activity, we will create a schedule.
After you’ve created your schedule, you’ll need to make a plan to keep track of it. Earned value management is carried out regularly to ensure that the actual plan is running smoothly.
Project Cost Management
This area concerns the project budget, which necessitates effective estimating methods to ensure that finances are sufficient to cover the project’s scope and are routinely checked to keep stakeholders or sponsors informed.
Plan cost management will determine how the budget will be established, including how and if it will change and the methods that will be utilized to control it. Each task will require a cost estimate, including all resources such as personnel, materials, equipment, and anything else needed to perform it.
Once you’ve added up all of the task prices, you’ll be able to establish the project budget. After that, an earned value analysis is required to keep those costs under control. This is done frequently throughout the project to ensure that the projected expenses match the actual costs.
Project Quality Management
A project can be finished on schedule and budget, but it’s a failure if the quality isn’t up to par. Therefore, plan quality management is included in the overall project management plan. Still, it can also be used as a stand-alone document provided it consists of the product or service’s quality specifications.
Quality assurance, which is simply a technique of ensuring that quality standards are met, is required as part of the process. As a result, to maintain quality, deliverables must be examined to ensure that the quality management plan’s requirements are followed.
Because the project team is your most valuable resource, it’s critical to put together the best group possible and satisfy them. However, you must also keep track of their progress to ensure that the project runs well. A human resource management plan will outline their responsibilities and job requirements and how they fit into the larger project framework.
It’s time to fill those positions and assemble a project team once you’ve decided on the job descriptions. This can be accomplished in-house by enlisting the help of other departments, hiring additional employees, or a mix of the two. The team needs training, development, and other resources to make them project-ready.
Project management is a continual task for the project manager. However, everyone is satisfied because the team is monitored to ensure that they are functioning efficiently and have no internal problems.
Project Communications Management
Communication management may be more significant than any other part of project management because it informs every aspect of the project. Therefore, planning communications management is a vital phase in any project because it tells both the team and the stakeholders.
How communications are disseminated and how frequently they are published is decided at this point. First, determine who and when something is required. Also, think about how you’ll communicate if there are any problems or adjustments in the project.
When the project is completed, keep track of conversations to ensure everything goes according to plan. Controlling communications will also entail evaluating and altering their effectiveness regularly.
Project Risk Management
The risks will be enumerated, categorized, and prioritized in accordance with risk management plans. By creating a risk register, you can identify hazards that may arise throughout the project’s execution.
After identifying and categorizing the most significant risks by likelihood and impact, do a qualitative risk analysis. After that, decide on a priority. Then, based on their effect on the project’s budget, schedule, and other variables, undertake quantitative analysis.
You’ll now have to think about how you’ll deal with any risks. If such risks do become issues, a response must be written ahead of time, with an owner can ensure that the risk is correctly detected and addressed. Risk management entails evaluating the risk register regularly and marking off any no longer relevant hazards to the project.
Project Procurement Management
Outside procurement, such as employing subcontractors, is an element of almost every project. This will affect the budget and timeline. Identifying the project’s external needs and how those contractors will be involved is the first step in procurement planning.
Now, hire the contractors by creating a statement of work, terms of reference, request for quotations, and selecting a vendor. You’ll want to manage and oversee the procurement process, then close the contracts once the job is completed to everyone’s satisfaction.
Project Stakeholder Management
The stakeholders must be pleased because the initiative is designed to meet their demands. Thus, they must be managed like any other project component. To begin with, the stakeholders must be identified using stakeholder analysis. It can be challenging, but it is critical to start any project, so identify the organization’s personnel and concerns.
Now identify the project stakeholders and identify how their issues might affect the project. This will ensure that stakeholders’ expectations are satisfied and that you stay in communication with them.
Control stakeholder engagement throughout the project. Do this by assessing if the needs of stakeholders are met. If not, determine what modifications are required to either meet those needs or adjust expectations.
Project management is an increasingly complex area with several procedures and rules. Managing an authorized program administration concept benefits project supervisors in implementing their strategies. The knowledge domains of project management are designed in an essential source that combines methodologies, modes, technologies, and knowledge fields. Take SPOTO PMP online training and use 100% real exam dumps to help you understand all of the methods and possess the abilities to achieve your responsibilities.