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ISBN. 978-1-62825-664-2. 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.
Budgeted cost of work performed ( BCWP) also called earned value ( EV ), is the budgeted cost of work that has actually been performed in carrying out a scheduled task during a specific time period. [1] The BCWP is the sum of the budgets for completed work packages and completed portions of open work packages, plus the applicable portion of the ...
According to the PMBOK (7th edition) by the Project Management Institute (PMI), daily standup is a "brief, daily collaboration meeting in which the team review progress from the previous day, declares intentions for the current day, and highlights any obstacles encountered or anticipated."
Project Cost Management (PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. It encompasses several specific project management activities including estimating, job controls, field data collection, scheduling, accounting and design, and uses technology to measure cost and productivity through the full life-cycle of enterprise ...
Dependency (project management) 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 ...
A work-breakdown structure ( WBS) [2] in project management and systems engineering is a deliverable -oriented breakdown of a project into smaller components. A work breakdown structure is a key project management element that organizes the team's work into manageable sections. The Project Management Body of Knowledge defines the work-breakdown ...
According to the PMBOK (7th edition) by the Project Management Institute (PMI), cycle time is the "total elapsed time from the start of a particular activity or work item to its completion." [3] In contrast to lead time , which measures the time that the customer waits for their request to be realized, cycle time only counts the time the team ...
Pmhub. PMHUB is a free (not for profit) virtual community of professional project managers who recognise the Project Management Institute 's Project Management Body of Knowledge (or briefly PMBOK) project management standard. Whilst a number of the members have already earned their PMP (Project Management Professional) certification the ...
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