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Including both The Standard for Project Management and the PMBOK® Guide, this edition presents 12 principles of project management and eight project performance domains that are critical for effectively delivering project outcomes. This edition of the PMBOK® Guide:
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©04 Project Management Institte Inc. rigts resere. PMI Lexicon of Project Management Terms | Version 4.0 | Page 3 bottom-up estimating. A method of estimating the duration, cost, or required resources by aggregating the estimates of the lower-level components of the work breakdown structure.
This process is included herein to encourage recommendations for changes, new terms/ definitions, and other suggestions for improvement. The PMI Lexicon of Project Management Terms contains only foundational terms used within professional project, program, and portfolio management.
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The go-to source for Project Managers, the PMBOK ® Guide (7th Edition) is structured around eight Project Management domains and identifies twelve key principles of Project Management. This latest edition reflects the ever-evolving nature of Project Management approaches due to emerging technologies and rapid market changes.
project objectives and align to the needs, uses, and acceptance requirements set forth by relevant stakeholders. f Project quality entails satisfying stakeholders’ expectations and fulfilling project and product requirements. f Quality focuses on meeting acceptance criteria for deliverables.
"The Standard for Project Management identifies project management principles that guide the behaviors and actions of project professionals and other stakeholders who work on or are engaged with projects,"
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• According to PMI, project management is the application of knowledge, skills, tools, and tech-niques to meet project requirements. • The role of the client is controversial. Some clients include meeting or exceeding their expecta-tions as part of project management.