• “Good practice” does not mean that the knowledge described should

always be applied uniformly on all projects; the project management

team is responsible for determining what is appropriate for any given
project (PMI Bold)
• A project is a temporary endeavor undertaken to create a unique product, service or result
• Progressive elaboration is a characteristic of projects, meaning that it is developed in
steps, and continues by increments. For example, items might be described in broad
terms at the start of the project but be defined in detailed terms by the conclusion of the
project – from the preliminary project scope statement to the verified project scope
statement supported by a detailed WBS
• Projects are different than operations; projects are supposed to complete their objective
and then cease to exist; operations continue indefinitely and sustain the business
• Projects are often conducted to support the organizations’ strategic plan, and to support
one or more strategic element:
o Market demand
o Organizational need
o A customer request
o A technological advance
o A legal requirement

• Project management is the application of knowledge, skills, tools and techniques to

project activities to meet project requirements
• Project management is accomplished through the application and integration of the
project management processes of initiating, planning, executing, monitoring & controlling,
and closing

• Managing a project includes

o 1) identifying requirements
o 2) establishing objectives
o 3) balancing scope, timing and cost
o 4) adapting the plan to different concerns of stakeholders
• The five areas of expertise in the project management team include
o The project management body of knowledge (PMBOK)
o Application area knowledge, standards and regulations
o Understanding the project environment
o General management knowledge and skills
o Interpersonal skills
• Application area knowledge, standards and regulations are usually defined in terms of
o 1) functional departments (i.e. legal, marketing)
o 2) technical elements (i.e. software development)
o 3) management specializations (i.e. government contracting)
o 4) industry groups (i.e. energy, financial services)
• Standards are guidelines or a preferred approach (i.e. ISO) and regulations are
government-imposed requirements such as laws (i.e. EPA, contract law)
• The project environment includes cultural and social environment (people demographic,
education, organizational accountability), the international and political environment (time
zones, different countries) and physical environment (is the team co-located?)
• General Management Knowledge and Skills including planning, executing and controlling
to support the company.Supporting areas include
o 1) accounting
o 2) purchasing
o 3) sales
o 4) contracting
o 5) manufacturing & distribution
o 6) planning
PMP Extra Notes