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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.
According to the PMBOK (7th edition) by the Project Management Institute (PMI), Earned Value (EV) is defined as the "measure of work performed expressed in terms of the budget authorized for that work." [3] BCWP is a term in Earned value management approach to 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 activities, or between an activity and a milestone.
A Guide to the Project Management Body of Knowledge (PMBOK Guide) – Seventh Edition (2021). Recognized by the American National Standards Institute (ANSI) as American National Standard ANSI/PMI 99-001-2021. [20] The Standard for Program Management—Fourth Edition (2017). Recognized by ANSI as American National Standard ANSI/PMI 08-002-2017. [21]
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 majority of the ...
According to the PMBOK (7th edition) by the Project Management Institute (PMI), CPIF is a "type of cost-reimbursable contract where the buyer reimburses the seller for the seller's allowable cost (allowable costs are defined by the contract), and the seller earns its profit if it meets defined performance criteria". [2]
According to the PMBOK (7th edition) by the Project Management Institute (PMI), Fixed Price Economic Price Adjustment Contract (FPEPA) is a "fixed-price contract, but with a special provision allowing for predefined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decrease) for special commodities".
A project plan, is a series of structured tasks, objectives, and schedule to a complete a desired outcome, according to a project managers designs and purpose.According to the Project Management Body of Knowledge (PMBOK), is: "...a formal, approved document used to guide both project execution and project control.