The process groups (Initiating, Planning, Executing, Controlling and Closing) organize the more detailed PM processes over time. Therefore, the process groups represent project states at various different times from start to finish.
A Guide to the Project Management Body of Knowledge (PMBOK), created by the Project Management Institute (PMI), is the sum of knowledge within the profession of project management. The complete Project Management Body of Knowledge includes proven traditional practices that are widely applied, as well as innovative emerging practices for the profession with widespread consensus as to their value and usefulness.
The PMBOK framework consists of five process groups, ten knowledge areas and 48 project management (PM) processes. The knowledge areas group the PM processes by project management content.
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Improved productivity due to using a standard methodology.
Increased project profitability due to improved project resources planning and control.
Reduced resources applied in non-value added projects.
Standardize practices across departments.
Standardized system across companies and industries.
Easy guide to project management steps.
Documentation of every step, process and methods along the way.
Knowledge needed to manage the life cycle of any Project, Program and Portfolio through their processes.
The necessary input, tools, techniques and output (deliverables) defined for each process.
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