How much do you know about PMBOK and Project Management?

Study Notes

PMI International was founded in 1969 by voluntary members.
In the 1980s, the business world began to focus on project management.
PMI developed the Project Management Body of Knowledge (PMBOK) as a guide for project management.
PMI has published 14 books of standards, including the PMBOK.
PMI's mission is to serve its community of associated professionals and develop project management as a professional discipline.
PMI's main objectives include promoting project management, sharing international experience, developing human resources for project management, consolidating international standards, and certifying professionals in project management.
PMBOK provides common terminology and methods for project management.
PMBOK's practices are applicable to most projects, but project managers must determine what is appropriate for each project.
PMBOK's practices allow for better project management and control.
Access to PMI's standards is available to PMI members.
PMBOK provides a framework for project management processes.
It is a common set of tools and techniques for professionals in project management.
The knowledge contained in PMBOK is internationally recognized.
It is aimed at various professionals in project management, including executives and team members.
PMBOK defines inputs, tools, techniques, and reports for each process.
It needs to be adapted to the industry, size, time, budget, and quality requirements of the project.
PMBOK helps IT departments achieve expected results from their IT projects.
Projects are used to achieve goals defined in the strategic plan of the organization.
BSC complements PMBOK by providing a system for performance management.
BSC helps companies monitor their strategy and adjust it accordingly.
Project management involves processes of planning, execution, control, and closure.
There are 49 project management processes organized into 10 knowledge areas.
The introduction of Section III describes the flow diagrams of processes used in each knowledge area.
A project team operates in 10 knowledge areas with a number of basic processes.
The integration management identifies, defines, combines, unifies, and coordinates project processes and activities.
The scope management ensures that the project finishes with all required work and only required work.
The schedule management administers the completion of the project within the predetermined period.
The cost management aims to plan, estimate, budget, finance, manage, and control costs to close the project.
The quality management incorporates the organization's quality policy into planning, managing, and controlling quality requirements.
The risk management plans, identifies, analyzes, plans and implements responses, and monitors project or phase risks.
Project planning involves defining, sequencing, estimating resources, estimating duration, developing a schedule, and controlling the schedule.
Techniques for project planning include Critical Path Method, Resource Leveling, "What-if" analysis, and Compression of the schedule.
Project cost management involves estimating costs, determining the budget, and controlling costs.
There are various types of costs associated with project management.