PMI Definition: A project is a temporary endeavor undertaken to achieve a particular aim and to which project management can be applied, regardless of the project’s size, budget, or timeline.
Further, as defined in the 2000 edition of A Guide to the Project Management Body of Knowledge (PMBOK® Guide), project management is the application of knowledge, skills, tools, and techniques to a broad range of activities in order to meet the requirements of a particular project.
Essentially, project management is comprised of five processes:
These five processes are wrapped around the triple contraints of project management. These 3 constraints will define a project, and any changes to any of these will impact the project enough to require review and approval by the project sponsor(s).
The Project Management Insitute has also defined NINE knowledge areas
Project Human Resources,
Project Risk Management
and Project Procurement.
Project management is used globally by multi-billion-dollar corporations, governments, and smaller organizations alike as a means of meeting their customers’ needs by both standardizing and reducing the basic tasks necessary to complete projects in the most effective and efficient manner. As a result, project management leadership is a highly desirable and sought-after skill as intense global competition demands that new projects and business development be completed on time and within budget.
PM a nutshell: 3 contraints; 5 processes; and 9 knowledge areas.
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