Organizing Project Management Knowledge – Principles, Knowledge Domains, Life Cycles, and Agile versus Traditional Approaches
Te Hung Wu · Auerbach Publications eBooks · 2020
In the chapter, we discuss the organizing frameworks of project management. Understanding these frameworks is important to develop a deeper understanding of how the various knowledge domains, life cycle phases, processes, practices, and roles interact. These models will also demonstrate the evolving nature of project management both as new concepts are advanced and outdated thinking wanes. There are many frameworks currently available, and some are more popular than others depending on countries, part of the world, industries, professions, and even companies. For example, companies such as Boeing, industry sectors such as construction, and professions such as cost accounting often develop their unique approach to project management. Furthermore, as project management itself is evolving, concepts from program management, portfolio management, and Agile approaches are also intertwining with project management. 22 This chapter strives to provide an optimal blend of multiple approaches including the following: Project Management Institute (PMI). A Guide to the Project Management Body of Knowledge ( PMBOK ® Guide ). International Standard Organization (ISO) 21500:2012. Guidance on Project Management. Combination of additional frameworks from program and portfolio management including concepts from the Strategic Business Execution framework. 1 This chapter addresses these fundamental questions: What are the important principles that guide project management? How to organize the body of work in project management? What are knowledge domains and project life cycle and why are they important? What is Agile and how it differs from the traditional project management? How to optimize project management through selecting the best project management approach and tailoring them to best fit your needs?