Wednesday, July 17, 2013

The structure of the Project management body of knowledge (PMBOK),fifth edition

A new version of the project management body of knowledge gets released once in every four years. The latest version, the fifth edition got released recently. Let us take a closer look at PMBOK V5.

PMBOK V5 comprises of 47 processes grouped into 10 knowledge areas and five process groups. The ten knowledge areas are;
Project integration management 
Time management 
Cost management
Scope management 
Quality management 
Communications management 
Human resource management 
Risk management 
Procurement management 
Stakeholder management 

Without an in depth understanding of these, no one can become a professional project manager. So, get excited about these and indulge in them with an intent to perform. 

The five process groups gives the logical flow of a project, and comprises of; 

Project initiation 
Project planning
Project execution 
Project monitoring and controlling 
Project closure 

Every project gets initiated formally by the project sponsor. During initiation, a project manager is formally appointed through a project charter. The project manager leads the project into detailed planning, followed by execution and closure of each phase which include the final closure of the project as well. Throughout all these phases, monitoring and controlling happens. That way, in project management, even when the body of knowledge is structured well, during implementation there will be overlaps. 

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