The Lifecycle of Terminology Projects
There are many useful components, tools, and processes involved in PM in order to manage a project successfully, from getting to know your stakeholders to managing time and costs and developing soft skills. So it is not surprising that new processes and tools are created as people learn and obtain experience. That is why, if you go to the leader in PM training—the PMBOK Guide—it is not surprising that their latest 5th Edition has added more processes to their lifecycle. But where am I heading to?
Well, as I mentioned in an introductory post, the PMBOK Guide was created based on learned lessons from project managers typical of almost all projects, and their creators say that in order to manage any project successfully we need to follow generally recognized good practices. Those practices are divided into 47 processes that overlap and interact (PMBOK Guide 4 had 42). All those processes are also divided into 5 process groups, as follows:
- Initiating: Includes the processes to create and define a really preliminary version of your project’s scope.
- Planning: how you’ll manage all aspects of the project including scope, risk, time, cost, quality, and a few more.
- Executing: Here’s where all the work is done.
- Monitoring and Controlling: All the stuff that was produced in the executing process is monitored and compared to the plan and decisions are made on how to stay on track.
- Closing: Filling out the paperwork and recording what has been achieved and team is released from responsibilities.
Many trainers, though, use 4 process groups Concept, Develop, Execute, Finish, because it’s easier to remember C-D-E-F. And you will find that process group names also change from trainer to trainer.
If you are curious or are familiar with the previous version, Alexander Stanisic made a short presentation explaining the changes from PMBOK 4 and 5 (see for example the new definition for stakeholders).
Also, along with the processes, there are 9 knowledge areas that describe the key competencies that project managers must develop: Core: Scope, Time, Cost, Quality; Facilitating: Human Resources, Communication, Risk, and Procurement; and Integration, which affects and is affected by all of the other knowledge areas.
The reason why it is important to talk about this now is because I have already talked about stakeholders, which is part of Initiating and Executing, and I will start talking about things like the core knowledge areas such as time and budget (cost) and quality (known as the triple constraints) that are usually mentioned in every terminology course that you take.
So there you have it, little by little I will be discovering a bit more about PM that will hopefully peek your curiosity to read more.
Make sure you go to my PM resources to discover more.
RECOMMENDED Easy reading: on the 9 knowledge areas and a chart with their relationships to the process groups: The 9 Things in the PMBOK (a PowerPoint presentation) by the University of Calgary (Canada).