What Are The 10 Knowledge Areas Of PMBOK?
by Arnab Dey Technology Published on: 16 February 2023 Last Updated on: 08 November 2024
The Project Management Institute has developed and is constantly updating the Project Management Body of Knowledge (PMBOK), which is a collection of standard terms and principles for project management (PMI). Any project must go through the sequential project management phases of project initiation, project planning, project execution, project monitoring and controlling, and project closing.
So, if you are a student who wishes to comprehend the entire PRINCE2 or project management process framework, this article will undoubtedly be of assistance to you. Further, if you wish to understand the difference between PMP and PRINCE2, you can read this prince2 vs. pmp article here.
Let us now discuss the 10 Project Management Knowledge Areas:
Knowledgable Areas Of Pmbok Which You Must Know About
1. Project Integration Management
All other project management knowledge areas fall under the aegis of project integration management. It combines several procedures and jobs into a project with clear objectives and outputs. The monitoring and controlling phase of the project integration is vital because it enables the team in charge of it to maximize the work previously completed and, if necessary, apply change management tactics as the project proceeds.
This corpus of knowledge is applied during each of the five phases: initiation, planning, execution, monitoring and controlling, and closing.
2. Project Scope Management
The scope of work that must be finished during the project is defined by project scope management. It is crucial because it establishes limitations on how much work may be incorporated into a single project. This stops the inclusion of unapproved or superfluous jobs. Project boundaries must be clearly established from the start and closely managed because scope changes primarily affect the project itself.
Even the smallest changes can have an impact on the outcome of the project because they can occur at any time. In this field of project management skills, there are six phases. Four of them are a representation of planning. The WBS must be established, requirements must be gathered, the scope must be defined, and scope management must be planned. Two processes make up the monitoring and controlling process group. These include maintaining the scope and validating the scope.
3. Project Time Management
Planning with the Work Breakdown Structure as an input, identifying the activities that will assist efficient project execution, and scheduling the activities to support the project executor and keep the schedule is the first step in timetable management. The timeline is developed and issued after all the data has been considered, taking into account a number of factors, such as the team skills, the needs of the client, and the information from the project charter.
In this project management knowledge area, six of the seven processes are in the planning stage, leaving only one process to be a part of the monitoring and controlling process group. These include creating the timetable, managing the schedule, defining the activities, ordering the activities, determining the resources needed for the activities, and forecasting the lengths of the activities. The main objective of the schedule management process is to complete a project successfully and without delay.
4. Project Cost Management
The technique of project cost management is centered on setting up and managing the project’s budget. This process includes procedures like planning, budgeting, estimating, financing, funding, controlling, and budget needs to make sure the project is finished within the allotted budget. Everything comes down to handling the project’s financial requirements.
Planning and monitoring, and regulating are the two phases that make up the steps in this knowledge area. A cost management and disbursement strategy for each entity is developed during planning using information from schedule management, cost estimates, and project-based budgeting to distribute funds for each phase. During the Monitoring & Controlling phase, the cost is monitored as the project is carried out and is controlled if overheads go over the predetermined authorized limits.
5. Project Quality Management
Quality in project management differs from perfection. Spending the time and money to complete a project perfectly is not realistic and is frequently not even possible. Having uniformity across all of your projects is the aim of project quality management. Quality assurance, which is merely a technique to confirm that quality standards are being met, must be a part of the process.
Therefore, to ensure that the standards established in the quality management plan are being met, the deliverables must be examined. There are three processes in this PMBOK knowledge area. The quality management process planning phase, the quality assurance process performing step, and the quality process regulating step all relate to the monitoring and controlling steps.
6. Project Resource Management
Creating cohesive teams and assisting each team member in developing their skills and learning new duties is one of the most satisfying aspects of this process. This knowledge area in project management encompasses more than just scheduling and task distribution. You must be aware of and utilize your team’s bandwidth to manage resources effectively. Determine each person’s particular advantages, disadvantages, and relationship to the other team members.
There are four procedures in this area of project management knowledge. The planning phase includes the resource management process, while the executing process group includes three more processes. These include assembling the project team, training the team, and overseeing the team.
7. Project Communication Management
The project’s communication with all the various participants, both internal and external, will determine whether it succeeds or fails. When everyone on the team is present, communication can happen synchronously or asynchronously via emails, dashboards, etc. This one covers the planning, doing, managing, and controlling phases.
Effective relationship management among team members depends on managing communications, and ongoing oversight is needed to ensure that any issues are addressed promptly. Between the project manager, team members, and stakeholders, communication is crucial because a lack of it could harm the project.
8. Project Risk Management
It is a procedure to identify the potential risks that could affect your project and analyze them to determine how they will affect the speed at which it is implemented relative to the projected timeline. Project managers should identify potential risks early on and attempt to mitigate or eliminate them. Once the project is underway, they should address any risks that arise.
Project risks are frequently obscured and difficult to identify at first look. Because of this, the project managers should conduct a thorough study of potential risks in order to assure successful project execution and reduce unforeseen complications. The fundamental goal of risk management procedures are to lessen the effects of hazards on the project once they manifest themselves.
9. Project Procurement Management
It’s possible that you won’t have the team members or resources on hand to finish a task in some situations or parts of a project. You should look for individuals that can integrate into the team easily if you recruit vendors or contractors to handle specific duties. This knowledge area in project management gives the guidelines for what jobs or services will be carried out by outside contractors. Not all projects will be appropriate to this Knowledge Area.
The entire project, from planning to acquiring to delivering the finished good, makes use of project procurement management. This category includes both internal and external factors, as well as project participants and vendors who promise high-quality deliveries in exchange for purchase orders from recognized businesses.
10. Project Stakeholder Management
The term ‘project stakeholder management’ refers to involving the stakeholders in the project management process beginning at the planning stage and continuing until the completion of the milestones and deliverables. Stakeholders will force you to adjust the tasks in order to comply with their demands if a project manager doesn’t involve them early on, which will only reduce the project’s scope and value.
Any project’s management of stakeholders is essential. The project is started, the product requirements are determined, the project processes are modeled, the project results are predicted, and the project is deemed successful. In a project, each stakeholder performs a certain set of tasks. Therefore, these roles and responsibilities should be established by the project manager.
Wrapping Up:
Any pmbok project’s management of stakeholders is essential. The project is started, the product requirements are determined, the project processes are modeled, the project results are predicted, and the project is deemed successful.
In a project, each stakeholder performs a certain set of tasks. Therefore, these roles and responsibilities should be established by the project manager.
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