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The PMBOK Guide is intended to be a "subset of the project management body of knowledge" that is generally recognized as a good practice. 'Generally recognized' means the knowledge and practices described are applicable to most projects most of the time and there is a consensus about their value and usefulness.
PMBOK 4.0 offered an evolved model based on the triple constraint with 6 factors to be monitored and managed. [11] This is illustrated as a 6 pointed Star that maintains the strength of the triangle analogy (two overlaid triangles), while at the same time represents the separation and relationship between project inputs/outputs factors on one ...
In the 1960s project management as such began to be used in the US aerospace, construction, and defense industries. [7] The Project Management Institute was founded by Ned Engman (McDonnell Douglas Automation), James Snyder, Susan Gallagher (SmithKline & French Laboratories), Eric Jenett (Brown & Root), and J Gordon Davis (Georgia Institute of Technology) at the Georgia Institute of Technology ...
A project plan, is a series of structured tasks, objectives, and schedule to a complete a desired outcome, according to a project managers designs and purpose.According to the Project Management Body of Knowledge (PMBOK), is: "...a formal, approved document used to guide both project execution and project control.
According to the PMBOK (7th edition) by the Project Management Institute (PMI), Fixed Price Economic Price Adjustment Contract (FPEPA) is a "fixed-price contract, but with a special provision allowing for predefined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decrease) for special commodities".
This page was last edited on 19 May 2015, at 01:20 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply ...
PMHUB is a free (not for profit) virtual community of professional project managers who recognise the Project Management Institute's Project Management Body of Knowledge (or briefly PMBOK) project management standard. Whilst a number of the members have already earned their PMP (Project Management Professional) certification the majority of the ...
There are many opinions about what practices PMOs must fulfill. The PMBoK 5th edition dedicates a page and a half to such discussion, identifying 6 PMO functions. Hobbs & Aubry (2010) identify 27 distinct functions of PMOs, highlighting a number of these that were found to not correlate with enhanced project performance.
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