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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.
The PMBOK guide, also adopted by the IEEE as a standard (jointly maintained by INCOSE, the Systems engineering Research Council SERC, and IEEE Computer Society) defines them as follows in its 4th edition: [17] "Validation. The assurance that a product, service, or system meets the needs of the customer and other identified stakeholders.
Tasks [4] may include monitoring [5] and reporting [6] on active projects and portfolios [7] (following up project until completion) and reporting progress to top management for strategic decisions on what projects to continue or cancel. The degree of control and influence that PMOs have on projects depends on the type of PMO. The three general ...
To measure cost performance, planned value (BCWS) and earned value (BCWP) must be in the same currency units as actual costs. In large implementations, the planned value curve is commonly called a Performance Measurement Baseline (PMB) and may be arranged in control accounts, summary-level planning packages, planning packages and work packages.
Value Delivery Modeling Language (VDML) is a standard modeling language for analysis and design of the operation of an enterprise with particular focus on the creation and exchange of value. [1] [2] In 2009, the Object Management Group (OMG) launched a Request for Proposal (RfP) to develop a standard for value modeling. The goal of this RfP is ...
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.
A project is a temporary and unique endeavor designed to produce a product, service or result with a defined beginning and end (usually time-constrained, often constrained by funding or staffing) undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value.
SD - Service Delivery; WMC - Work Monitoring and Control; WP - Work Planning; Maturity Level 3 - Defined (this includes the process areas that make up the previous levels; Maturity Level 3 is made up of the process areas in Level 2 and Level 3) CAM - Capacity and Availability Management; DAR - Decision Analysis and Resolution