PlanThat.com

The PMBOK, a formalized set of knowledge about project management, is published by the Project Management Institute (also the folks behind the PMP certification). The PMBOK is a process based approach to managing projects. The processes PMI documents in the PMBOK are:

• Initiating: defines and authorizes the project (i.e. create project charter).
• Planning: shapes the outcomes/goals for the project by knowledge area.
• Executing: carries out project plans.
• Controlling and Monitoring: assesses actual project outcomes to planned targets and makes corrective actions when necessary.
• Closing: obtains a formal acceptance of the product/service by stakeholders and tapers out project activities in a planned, organized fashion.

The PMBOK defines nine knowledge areas, organized by their role in a project. The knowledge areas are separated into three groups: core knowledge areas, facilitating knowledge areas, and the coordination knowledge area. The knowledge areas are:

• Core Knowledge Areas
  • Scope Management
  • Time Management
  • Cost Management
  • Quality Management

• Facilitating Knowledge Areas
  • Communications Management
  • Human Resources Management
  • Risk Management
  • Procurement Management

• Coordination Knowledge Area
  • Integration Management

If any one of the core knowledge areas is changed in a project, it could affect one of the three legs of the project stool: functionality, time, and cost. You cannot change one leg without affecting one of the other legs of the stool. This is known as the triple constraint - if you change the functionality of a project, it could increase the time and cost of the project. If you lower the cost, it could decrease the functionality. Changing any one leg will inevitably lead to a chance in at least one of the others. Some projects also include quality as a leg of the stool, making the model a quadruple constraint.