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The Project Management Body of Knowledge (PMBOK) is a set of standard terminology and guidelines (a body of knowledge) for project management.The body of knowledge evolves over time and is presented in A Guide to the Project Management Body of Knowledge (PMBOK Guide), a book whose seventh edition was released in 2021.
Business case a document that examines business need and cost-benefits analysis of a project to justify the approval of the project and to set its boundaries. Business model is a profit-producing system that has an important degree of independence from the other systems within an enterprise.
In a project network, a dependency is a link among a project's terminal elements. [citation needed]The A Guide to the Project Management Body of Knowledge (PMBOK Guide) does not define the term dependency, but refers for this term to a logical relationship, which in turn is defined as dependency between two activities, or between an activity and a milestone.
Project management office –: The Project management office in a business or professional enterprise is the department or group that defines and maintains the standards of process, generally related to project management, within the organization. The PMO strives to standardize and introduce economies of repetition in the execution of projects.
The terms of reference are created during the earlier stages of project management by the founders of the project in question, immediately after the approval of a project business case. They are documented by the project manager and presented to the project sponsor or sponsors for approval.
Similarly, for the PMBoK, the major development in this coordinated approach was the requirement that a knowledge area always starts with the associated management plan. [ 9 ] ISO 21500 certification
The CAPM exam is based on the A Guide to the Project Management Body of Knowledge, colloquially known as "The PMBOK Guide". [2] The Certified Associate in Project Management (CAPM) Credential Handbook, [2] notes the distribution of questions from the PMBOK: Chapter 1 "Introduction to Project Management" (6%) Chapter 2 "Project Environment" (6%)
Milestones can add significant value to project scheduling.When combined with a scheduling methodology such as program evaluation and review technique or the critical path method, milestones allow project managers to much more accurately determine whether or not the project is on schedule.