Project Management Body of Knowledge (PMBO)
The Project Management Body of Knowledge consists of a project life cycle (see earlier "Project Life Cycle" section), five process groups, and nine knowledge areas. A project management process group is "a logical grouping of the project management Inputs, tools and techniques, and outputs." The five process groups, paraphrased from the PMBOK" Guide, are as follows:
*Initiating¡ª"defines and authorizes a project or a project phase
*Planning¡ª"defines and refines objectives and plans actions to achieve objectives"
*Executing¡ª"directs and manages people and other resources to accomplish project work"
*Monitoring and controlling¡ª"collects data and checks progress to determine any needed corrective actions"
*Closing¡ª"formalized acceptance of project outcomes and ending the project"
The nine knowledge areas, paraphrased from the I'MHOK" Guide, are as follows:
*Integration management "processes and activities needed to define, combine, unity, and coordinate die various processes and project management activities" Scope management "processes required to ensure that the project includes .ill the work required, and only the work required, to complete the project successfully.
*Time management "process required to manage timely completion of the project
*Cost management "processes involved in estimating, budgeting, and controlling costs so that the project can be completed within the approved budget
*Quality management "processes and activities of the performance on that determine quality policies, objectives, and responsibilities so that the project will satisfy the needs for which it was undertaken"
*Human resources management¡ª"processes that organize, manage and lead the project team"
*Communications management¡ª"processes required to ensure timely and appropriate generation, collection, distribution, storage, retrieval, and ultimate disposition of project information¡±
*Risk management¡ª"processes of conducting risk management planning, reason planning, and monitoring and control ... to increase the probability and impact of positive events and decrease the probability and impact of negative events in the project""
*Procurement management¡ª"processes necessary to purchase or acquire products services, or results from outside the project team. Ô¼þÏÂÔØ£º 
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