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Topic: The Role of Risk Management in Project Management

Literature Review: 13 pages

Atleast 7 outside sources + 2 course book

For your final paper I recommend focusing (and having articles that support) ONE of the key themes you’ve chosen: techniques, risk & success, OR risk mgmt value creation. Search in the library for “risk management tools & techniques” and you should be able to find additional external articles on this topic. Note that risk mgmt is not an “approach,” but the plans and actions to address risk.

The Role of Risk Management in Project Management
Paper Structure should include:
Title Page
Introduction or Abstract
Body (content of the paper)
Conclusions or Recommendations
References Page
Number of pages: approx 13 pages double-spaced, NOT including References or
Title Page
NOTE 30% of your final paper grade is based on effective communication and
writing skills, including grammar and sentence structure
Consider a free online tool to auto-check spelling and grammar, such as:
Grammarly (free version)
After the Deadline
Note that your literature review should include the core findings of the research
performed. What were the key points from the author(s)? How does it relate to your
paper’s topic? Were there any disagreements/agreements between your 4 articles? What
do you think about this and why?
Final Course Project Assignment Scoring
% of Total
Explanation of key content, what it means and how it is applied:
Successful review of EXTERNAL RESEARCH of your topic, SYNTHESIS OF KEY
FINDINGS AND RECOMMENDATIONS from each study. Provides a logical
defense and support of your positions using external reference and
empirical data. Demonstrates grasp of course concepts and theory and
their application to the student’s chosen topic. Applies course text
material to the literature reviewed.
**Student did not just repeat the article or provide quotes. Explanations
provided in the student’s own words.
Good writing mechanics including proper sentence structure, paragraph
structure, grammar, punctuation, and spelling.
Main supporting points easily identifiable, plausible, sophisticated,
insightful, and clear. Avoids first-person language. Written for “the
intelligent layman.”
At least FOUR additional scholarly sources (in addition to course texts);
these sources can be books, journal articles, and/or (no more than two)
online websites.
Title Page / # Pages / Structure:
13 double-spaced pages, not including the title page, abstract, &
reference pages. Includes a title page with the title, date, course number
and name, instructor’s name and your name. Put Student Name within
the file itself before completing, e.g., “J Smith – Risk Management.doc.”
APA Style followed including references and proper formatting.
(Total: 100%)
The Role of Risk Management in Project Management
The Role of Risk Management in Project Management
Understanding the role of risk management in project management is instrumental to
the success of a project. Risk management is a common project practice due to the idea that
projects are risky undertakings whose concepts must be well-understood and implemented
across project sizes, types, and industries (Hillson, 2017). The absence of risk management in
project management is associated with disasters and trivial inconveniences during projects that
often translate to increased costs, lack of value creation, and project failure in some instances.
This leads Harrison & Lock (2017) to argue that advanced project management is usually
incomplete without proper attention to risk management. The most common outcome of failing
to pay attention to risk management is the upsetting of the well-laid plans of the project, and
thereby decreased chances of project success. This paper seeks to highlight the significance of
risk management in project management.
Why Risk Management is of Interest and Significant
For a more in-depth understanding of risk management and its role in project
management, it is essential to first grasp the key concepts of risk management. According to
Khurramov & Ganiev (2021), risk identification, analysis, planning, and management are the
four main processes of risk management. For instance, risk identification and analysis allow
project managers to assess and group potential risks into categories based on their probability
of occurrence and the subsequent damages they may cause (Khurramov & Ganiev, 2021).
After that, project managers develop measures to mitigate or prevent the risks,
decreasing the negative consequences. The development of measures to curb risks also involves
the drawing of a plan on what actions to take and the people responsible for those actions
(Khurramov & Ganiev, 2021). This process continues throughout the project with cycles of
identification of risks, analysis, planning, and management since other risks tend to occur after
the project commences or during later stages. Hence, as Khurramov & Ganiev (2021) posit,
effective risk management requires the development of strategies to minimize losses and the
continuous and careful monitoring of the amount of risks involved in the project.
Harrison & Lock (2016) share similar perspectives by considering projects as dynamic,
which increases the potential for risks to change. From this perspective, Harrison & Lock
(2016) claim that the purpose of risk management is to develop a strategy for dealing with as
many potential risks as possible after their identification and assessment. Further, the dynamic
nature of risks requires project managers to ensure their risk management strategies remain
valid and comprehensive by reviewing them from time to time throughout the project. A
consideration of such factors increases the chances of success for every project, making risk
management a critical component of project management.
The above synthesis of the concepts of risk management makes it easier to identify the
significance of this subject in project management. The primary role of risk management in
project management is the creation of value. Willumsen et al. (2019) provide that the first
principle of risk management is to create and protect value. This is despite the fact that value
creation is contextual and subjective. One of the ways risk management creates value during
projects is by allowing high transparency. High transparency, in turn, eliminates mistakes that
could have negative implications on the project or organizational outcomes (Willumsen et al.,
2019). simply put, risk management enables increased information sharing that is central to
decision-making, leading to the achievement or exceeding of project goals. One of the ways
risk management enables transparency and, by extension, value creation is by facilitating
decision-making that is anchored on facts rather than gut feelings (Willumsen et al., 2019). The
facts can only be attained when the risks are anticipated and measures to prevent or mitigate
them are put in place.
By creating value, risk management leads to project success. Urbanski et al. (2019)
argue that project planning often has a significant positive impact on project success. Risk
management is an integral part of project planning. This is because risk management involves
the identification and analysis of potential risks, as well as planning, which entails the
identification of responsible personnel, who then monitor and manage the risks as the project
continues. These tenets correspond with the factors attributed to project success, which include
type of project, an individual’s role within the project, and the contract duration (Urbanski et
al., 2019). From this perspective, it is logical to deduce that risk management has a direct
relationship with project success, facilitated through the element of planning.
Lastly, risk management is significant because it illuminates the attitudes of those
involved in a project about the risks involved. Harrison & Lock (2017) identify risk
management as a complex subject. Hillson & Murray-Webster (2017) support this view by
defining risk management as problematic for many organizations. The challenges of risk
management concern the need for risk managers to work in groups, the complexity of
individuals, and how people perceive risk and risk management (Hillson & Murray-Webster,
2017). These factors make risk management an important component of project management
because it enables those involved in the project to learn the attitudes of the personnel early on,
and device ways to change those attitudes.
Without the introduction of risk management and its components at the onset of the
project, the attitudes are bound to emerge anyway due to the inevitability of risks, and result in
disastrous outcomes of the project. The purpose of risk management is to identify and assess
as many risks as possible and as soon as possible (Harrison & Lock, 2016). The attitudes of the
project management personnel about risk management is a risk itself if not properly managed.
Risk management sets the stage for the assessment of such attitudes and strategies to shift them
by developing strategies to mitigate the potential risks of the project.
In conclusion, risk management is fundamental to successful project outcomes, making
it of interest to me. As mentioned above, projects are risky undertakings, which leads me to
conclude that risk management is the most significant component of project management since
by averting risks, organizations are well-positioned for remarkable project success. Therefore,
risk management can either lead to project success or failure and must be carefully considered
for the development of effective risk management measures.
Harrison, F., & Lock, D. (2017). Advanced project management: a structured approach.
Hillson, D. (2017). Managing risk in projects. Routledge.
KHURRAMOV, A., & GANIEV, I. M. (2021). The Economic Effectiveness of Using
Effective Risk Management Techniques in Project Management. DEVELOPMENT
Urbański, M., Haque, A. U., & Oino, I. (2019). The moderating role of risk management in
project planning and project success: Evidence from construction businesses of
Pakistan and the UK. Engineering Management in Production and Services, 11(1), 2335.
Willumsen, P., Oehmen, J., Stingl, V., & Geraldi, J. (2019). Value creation through project risk
management. International Journal of Project Management, 37(5), 731-749.
Sixth Edition
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Names: Project Management Institute, publisher.
Title: A guide to the project management body of knowledge (PMBOK guide) / Project Management Institute.
Other titles: PMBOK guide
Description: Sixth edition. | Newtown Square, PA: Project Management Institute, 2017. | Series: PMBOK guide | Includes bibliographical
references and index.
Identifiers: LCCN 2017032505 (print) | LCCN 2017035597 (ebook) | ISBN 9781628253900 (ePUP) | ISBN 9781628253917 (kindle) | ISBN
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(PMBOK® Guide)
1.1 Overview and Purpose of this Guide
1.1.1 The Standard for Project Management
1.1.2 Common Vocabulary
1.1.3 Code of Ethics and Professional Conduct
1.2 Foundational Elements
1.2.1 Projects
1.2.2 The Importance of Project Management
1.2.3 Relationship of Project, Program, Portfolio, and Operations
1.2.4 Components of the Guide
1.2.5 Tailoring
1.2.6 Project Management Business Documents
2.1 Overview
2.2 Enterprise Environmental Factors
2.2.1 EEFs Internal to the Organization
2.2.2 EEFs External to the Organization
2.3 Organizational Process Assets
2.3.1 Processes, Policies, and Procedures
2.3.2 Organizational Knowledge Repositories
2.4 Organizational Systems
2.4.1 Overview
2.4.2 Organizational Governance Frameworks
2.4.3 Management Elements
2.4.4 Organizational Structure Types
3.1 Overview
3.2 Definition of a Project Manager
3.3 The Project Manager’s Sphere of Influence
3.3.1 Overview
3.3.2 The Project
3.3.3 The Organization
3.3.4 The Industry
3.3.5 Professional Discipline
3.3.6 Across Disciplines
3.4 Project Manager Competences
3.4.1 Overview
3.4.2 Technical Project Management Skills
3.4.3 Strategic and Business Management Skills
3.4.4 Leadership Skills
3.4.5 Comparison of Leadership and Management
3.5 Performing Integration
3.5.1 Performing Integration at the Process Level
3.5.2 Integration at the Cognitive Level
3.5.3 Integration at the Context Level
3.5.4 Integration and Complexity
4.1 Develop Project Charter
4.1.1 Develop Project Charter: Inputs
4.1.2 Develop Project Charter: Tools and Techniques
4.1.3 Develop Project Charter: Outputs
4.2 Develop Project Management Plan
4.2.1 Develop Project Management Plan: Inputs
4.2.2 Develop Project Management Plan: Tools and Techniques
4.2.3 Develop Project Management Plan: Outputs
4.3 Direct and Manage Project Work
4.3.1 Direct and Manage Project Work: Inputs
4.3.2 Direct and Manage Project Work: Tools and Techniques
4.3.3 Direct and Manage Project Work: Outputs
4.4 Manage Project Knowledge
4.4.1 Manage Project Knowledge: Inputs
4.4.2 Manage Project Knowledge: Tools and Techniques
4.4.3 Manage Project Knowledge: Outputs
4.5 Monitor and Control Project Work
4.5.1 Monitor and Control Project Work: Inputs
4.5.2 Monitor and Control Project Work: Tools and Techniques
4.5.3 Monitor and Control Project Work: Outputs
4.6 Perform Integrated Change Control
4.6.1 Perform Integrated Change Control: Inputs
4.6.2 Perform Integrated Change Control: Tools and Techniques
4.6.3 Perform Integrated Change Control: Outputs
4.7 Close Project or Phase
4.7.1 Close Project or Phase: Inputs
4.7.2 Close Project or Phase: Tools and Techniques
4.7.3 Close Project or Phase: Outputs
5.1 Plan Scope Management
5.1.1 Plan Scope Management: Inputs
5.1.2 Plan Scope Management: Tools and Techniques
5.1.3 Plan Scope Management: Outputs
5.2 Collect Requirements
5.2.1 Collect Requirements: Inputs
5.2.2 Collect Requirements: Tools and Techniques
5.2.3 Collect Requirements: Outputs
5.3 Define Scope
5.3.1 Define Scope: Inputs
5.3.2 Define Scope: Tools and Techniques
5.3.3 Define Scope: Outputs
5.4 Create WBS
5.4.1 Create WBS: Inputs
5.4.2 Create WBS: Tools and Techniques
5.4.3 Create WBS: Outputs
5.5 Validate Scope
5.5.1 Validate Scope: Inputs
5.5.2 Validate Scope: Tools and Techniques
5.5.3 Validate Scope: Outputs
5.6 Control Scope
5.6.1 Control Scope: Inputs
5.6.2 Control Scope: Tools and Techniques
5.6.3 Control Scope: Outputs
6.1 Plan Schedule Management
6.1.1 Plan Schedule Management: Inputs
6.1.2 Plan Schedule Management: Tools and Techniques
6.1.3 Plan Schedule Management: Outputs
6.2 Define Activities
6.2.1 Define Activities: Inputs
6.2.2 Define Activities: Tools and Techniques
6.2.3 Define Activities: Outputs
6.3 Sequence Activities
6.3.1 Sequence Activities: Inputs
6.3.2 Sequence Activities: Tools and Techniques
6.3.3 Sequence Activities: Outputs
6.4 Estimate Activity Durations
6.4.1 Estimate Activity Durations: Inputs
6.4.2 Estimate Activity Durations: Tools and Techniques
6.4.3 Estimate Activity Durations: Outputs
6.5 Develop Schedule
6.5.1 Develop Schedule: Inputs
6.5.2 Develop Schedule: Tools and Techniques
6.5.3 Develop Schedule: Outputs
6.6 Control Schedule
6.6.1 Control Schedule: Inputs
6.6.2 Control Schedule: Tools and Techniques
6.6.3 Control Schedule: Outputs
7.1 Plan Cost Management
7.1.1 Plan Cost Management: Inputs
7.1.2 Plan Cost Management: Tools and Techniques
7.1.3 Plan Cost Management: Outputs
7.2 Estimate Costs
7.2.1 Estimate Costs: Inputs
7.2.2 Estimate Costs: Tools and Techniques
7.2.3 Estimate Costs: Outputs
7.3 Determine Budget
7.3.1 Determine Budget: Inputs
7.3.2 Determine Budget: Tools and Techniques
7.3.3 Determine Budget: Outputs
7.4 Control Costs
7.4.1 Control Costs: Inputs
7.4.2 Control Costs: Tools and Techniques
7.4.3 Control Costs: Outputs
8.1 Plan Quality Management
8.1.1 Plan Quality Management: Inputs
8.1.2 Plan Quality Management: Tools and Techniques
8.1.3 Plan Quality Management: Outputs
8.2 Manage Quality
8.2.1 Manage Quality: Inputs
8.2.2 Manage Quality: Tools and Techniques
8.2.3 Manage Quality: Outputs
8.3 Control Quality
8.3.1 Control Quality: Inputs
8.3.2 Control Quality: Tools and Techniques
8.3.3 Control Quality: Outputs
9.1 Plan Resource Management
9.1.1 Plan Resource Management: Inputs
9.1.2 Plan Resource Management: Tools and Techniques
9.1.3 Plan Resource Management: Outputs
9.2 Estimate Activity Resources
9.2.1 Estimate Activity Resources: Inputs
9.2.2 Estimate Activity Resources: Tools and Techniques
9.2.3 Estimate Activity Resources: Outputs
9.3 Acquire Resources
9.3.1 Acquire Resources: Inputs
9.3.2 Acquire Resources: Tools and Techniques
9.3.3 Acquire Resources: Outputs
9.4 Develop Team
9.4.1 Develop Team: Inputs
9.4.2 Develop Team: Tools and Techniques
9.4.3 Develop Team: Outputs
9.5 Manage Team
9.5.1 Manage Team: Inputs
9.5.2 Manage Team: Tools and Techniques
9.5.3 Manage Team: Outputs
9.6 Control Resources
9.6.1 Control Resources: Inputs
9.6.2 Control Resources: Tools and Techniques
9.6.3 Control Resources: Outputs
10.1 Plan Communications Management
10.1.1 Plan Communications Management: Inputs
10.1.2 Plan Communications Management: Tools and Techniques
10.1.3 Plan Communications Management: Outputs
10.2 Manage Communications
10.2.1 Manage Communications: Inputs
10.2.2 Manage Communications: Tools and Techniques
10.2.3 Manage Communications: Outputs
10.3 Monitor Communications
10.3.1 Monitor Communications: Inputs
10.3.2 Monitor Communications: Tools and Techniques
10.3.3 Monitor Communications: Outputs
11.1 Plan Risk Management
11.1.1 Plan Risk Management: Inputs
11.1.2 Plan Risk Management: Tools and Techniques
11.1.3 Plan Risk Management: Outputs
11.2 Identify Risks
11.2.1 Identify Risks: Inputs
11.2.2 Identify Risks: Tools and Techniques
11.2.3 Identify Risks: Outputs
11.3 Perform Qualitative Risk Analysis
11.3.1 Perform Qualitative Risk Analysis: Inputs
11.3.2 Perform Qualitative Risk Analysis: Tools and Techniques
11.3.3 Perform Qualitative Risk Analysis: Outputs
11.4 Perform Quantitative Risk Analysis
11.4.1 Perform Quantitative Risk Analysis: Inputs
11.4.2 Perform Quantitative Risk Analysis: Tools and Techniques
11.4.3 Perform Quantitative Risk Analysis: Outputs
11.5 Plan Risk Responses
11.5.1 Plan Risk Responses: Inputs
11.5.2 Plan Risk Responses: Tools and Techniques
11.5.3 Plan Risk Responses: Outputs
11.6 Implement Risk Responses
11.6.1 Implement Risk Responses: Inputs
11.6.2 Implement Risk Responses: Tools and Techniques
11.6.3 Implement Risk Responses: Outputs
11.7 Monitor Risks
11.7.1 Monitor Risks: Inputs
11.7.2 Monitor Risks: Tools and Techniques
11.7.3 Monitor Risks: Outputs
12.1 Plan Procurement Management
12.1.1 Plan Procurement Management: Inputs
12.1.2 Plan Procurement Management: Tools and Techniques
12.1.3 Plan Procurement Management: Outputs
12.2 Conduct Procurements
12.2.1 Conduct Procurements: Inputs
12.2.2 Conduct Procurements: Tools and Techniques
12.2.3 Conduct Procurements: Outputs
12.3 Control Procurements
12.3.1 Control Procurements: Inputs
12.3.2 Control Procurements: Tools and Techniques
12.3.3 Control Procurements: Outputs
13.1 Identify Stakeholders
13.1.1 Identify Stakeholders: Inputs
13.1.2 Identify Stakeholders: Tools and Techniques
13.1.3 Identify Stakeholders: Outputs
13.2 Plan Stakeholder Engagement
13.2.1 Plan Stakeholder Engagement: Inputs
13.2.2 Plan Stakeholder Engagement: Tools and Techniques
13.2.3 Plan Stakeholder Engagement: Outputs
13.3 Manage Stakeholder Engagement
13.3.1 Manage Stakeholder Engagement: Inputs
13.3.2 Manage Stakeholder Engagement: Tools and Techniques
13.3.3 Manage Stakeholder Engagement: Outputs
13.4 Monitor Stakeholder Engagement
13.4.1 Monitor Stakeholder Engagement: Inputs
13.4.2 Monitor Stakeholder Engagement: Tools and Techniques
13.4.3 Monitor Stakeholder Engagement: Outputs
1.1 Projects and Project Management
1.2 Relationships Among Portfolios, Programs, and Projects
1.3 Linking Organizational Governance and Project Governance
1.4 Project Success and Benefits Management
1.5 The Project Life Cycle
1.6 Project Stakeholders
1.7 Role of the Project Manager
1.8 Project Management Knowledge Areas
1.9 Project Management Process Groups
1.10 Enterprise Environmental Factors and Organizational Process Assets
1.11 Tailoring the Project Artifacts
2.1 Develop Project Charter
2.2 Identify Stakeholders
2.2.1 Project Management Plan Components
2.2.2 Project Documents Examples
2.2.3 Project Management Plan Updates
2.2.4 Project Documents Updates
3.1 Develop Project Management Plan
3.2 Plan Scope Management
3.2.1 Project Management Plan Components
3.3 Collect Requirements
3.3.1 Project Management Plan Components
3.3.2 Project Documents Examples
3.4 Define Scope
3.4.1 Project Management Plan Components
3.4.2 Project Documents Examples
3.4.3 Project Documents Updates
3.5 Create WBS
3.5.1 Project Management Plan Components
3.5.2 Project Documents Examples
3.5.3 Project Documents Updates
3.6 Plan Schedule Management
3.6.1 Project Management Plan Components
3.7 Define Activities
3.7.1 Project Management Plan Components
3.7.2 Project Management Plan Updates
3.8 Sequence Activities
3.8.1 Project Management Plan Components
3.8.2 Project Documents Examples
3.8.3 Project Documents Updates
3.9 Estimate Activity Durations
3.9.1 Project Management Plan Components
3.9.2 Project Documents Examples
3.9.3 Project Documents Updates
3.10 Develop Schedule
3.10.1 Project Management Plan Components
3.10.2 Project Documents Examples
3.10.3 Project Management Plan Updates
3.10.4 Project Documents Updates
3.11 Plan Cost Management
3.11.1 Project Management Plan Components
3.12 Estimate Costs
3.12.1 Project Management Plan Components
3.12.2 Project Documents Examples
3.12.3 Project Documents Updates
3.13 Determine Budget
3.13.1 Project Management Plan Components
3.13.2 Project Documents Examples
3.13.3 Project Documents Updates
3.14 Plan Quality Management
3.14.1 Project Management Plan Components
3.14.2 Project Documents Examples
3.14.3 Project Management Plan Updates
3.14.4 Project Documents Updates
3.15 Plan Resource Management
3.15.1 Project Management Plan Components
3.15.2 Project Documents
3.15.3 Project Documents Updates
3.16 Estimate Activity Resources
3.16.1 Project Management Plan Components
3.16.2 Project Documents Examples
3.16.3 Project Documents Updates
3.17 Plan Communications Management
3.17.1 Project Management Plan Components
3.17.2 Project Documents Examples
3.17.3 Project Management Plan Updates
3.17.4 Project Documents Updates
3.18 Plan Risk Management
3.18.1 Project Management Plan Components
3.18.2 Project Documents Examples
3.19 Identify Risks
3.19.1 Project Management Plan Components
3.19.2 Project Documents Examples
3.19.3 Project Documents Updates
3.20 Perform Qualitative Risk Analysis
3.20.1 Project Management Plan Components
3.20.2 Project Documents Examples
3.20.3 Project Documents Updates
3.21 Perform Quantitative Risk Analysis
3.21.1 Project Management Plan Components
3.21.2 Project Documents Examples
3.21.3 Project Documents Updates
3.22 Plan Risk Responses
3.22.1 Project Management Plan Components
3.22.2 Project Documents Examples
3.22.3 Project Management Plan Updates
3.22.4 Project Documents Updates
3.23 Plan Procurement Management
3.23.1 Project Management Plan Components
3.23.2 Project Documents Examples
3.23.3 Project Documents Updates
3.24 Plan Stakeholder Engagement
3.24.1 Project Management Plan Components
3.24.2 Project Documents Examples
4.1 Direct and Manage Project Work
4.1.1 Project Management Plan Components
4.1.2 Project Documents Examples
4.1.3 Project Management Plan Updates
4.1.4 Project Documents Updates
4.2 Manage Project Knowledge
4.2.1 Project Management Plan Components
4.2.2 Project Documents
4.2.3 Project Management Plan Updates
4.3 Manage Quality
4.3.1 Project Management Plan Components
4.3.2 Project Documents Examples
4.3.3 Project Management Plan Updates
4.3.4 Project Documents Updates
4.4 Acquire Resources
4.4.1 Project Management Plan Components
4.4.2 Project Documents Examples
4.4.3 Project Management Plan Updates
4.4.4 Project Documents Updates
4.5 Develop Team
4.5.1 Project Management Plan Components
4.5.2 Project Documents Examples
4.5.3 Project Management Plan Updates
4.5.4 Project Documents Updates
4.6 Manage Team
4.6.1 Project Management Plan Components
4.6.2 Project Documents Examples
4.6.3 Project Management Plan Updates
4.6.4 Project Documents Updates
4.7 Manage Communications
4.7.1 Project Management Plan Components
4.7.2 Project Documents Example
4.7.3 Project Management Plan Updates
4.7.4 Project Documents Updates
4.8 Implement Risk Responses
4.8.1 Project Management Plan Components
4.8.2 Project Documents Examples
4.8.3 Project Documents Updates
4.9 Conduct Procurements
4.9.1 Project Management Plan Components
4.9.2 Project Documents Examples
4.9.3 Project Management Plan Updates
4.9.4 Project Documents Updates
4.10 Manage Stakeholder Engagement
4.10.1 Project Management Plan Components
4.10.2 Project Documents Examples
4.10.3 Project Management Plan Updates
4.10.4 Project Documents Updates
5.1 Monitor and Control Project Work
5.1.1 Project Management Plan Components
5.1.2 Project Documents Examples
5.1.3 Project Management Plan Updates
5.1.4 Project Documents Updates
5.2 Perform Integrated Change Control
5.2.1 Project Management Plan Components
5.2.2 Project Documents Examples
5.2.3 Project Management Plan Updates
5.2.4 Project Documents Updates
5.3 Validate Scope
5.3.1 Project Management Plan Components
5.3.2 Project Documents Examples
5.3.3 Project Documents Updates
5.4 Control Scope
5.4.1 Project Management Plan Components
5.4.2 Project Documents Examples
5.4.3 Project Management Plan Updates
5.4.4 Project Documents Updates
5.5 Control Schedule
5.5.1 Project Management Plan Components
5.5.2 Project Documents Examples
5.5.3 Project Management Plan Updates
5.5.4 Project Documents Updates
5.6 Control Costs
5.6.1 Project Management Plan Components
5.6.2 Project Documents Examples
5.6.3 Project Management Plan Updates
5.6.4 Project Documents Updates
5.7 Control Quality
5.7.1 Project Management Plan Components
5.7.2 Project Documents Examples
5.7.3 Project Management Plan Updates
5.7.4 Project Documents Updates
5.8 Control Resources
5.8.1 Project Management Plan Components
5.8.2 Project Documents Examples
5.8.3 Project Management Plan Updates
5.8.4 Project Documents Updates
5.9 Monitor Communications
5.9.1 Project Management Plan Components
5.9.2 Project Documents Examples
5.9.3 Project Management Plan Updates
5.9.4 Project Documents Updates
5.10 Monitor Risks
5.10.1 Project Management Plan Components
5.10.2 Project Documents Examples
5.10.3 Project Management Plan Updates
5.10.4 Project Documents Updates
5.11 Control Procurements
5.11.1 Project Management Plan Components
5.11.2 Project Documents Examples
5.11.3 Project Management Plan Updates
5.11.4 Project Documents Updates
5.12 Monitor Stakeholder Engagement
5.12.1 Project Management Plan Components
5.12.2 Project Documents Examples
5.12.3 Project Management Plan Updates
5.12.4 Project Documents Updates
6.1 Close Project or Phase
6.1.1 Project Management Plan Components
6.1.2 Project Documents Examples
6.1.3 Project Documents Updates
(PMBOK® Guide)
Figure 1-1.
Figure 1-2.
Figure 1-3.
Figure 1-4.
Figure 1-5.
Figure 1-6.
Figure 1-7.
Figure 1-8.
Figure 2-1.
Figure 3-1.
Figure 3-2.
Figure 4-1.
Figure 4-2.
Figure 4-3.
Figure 4-4.
Figure 4-5.
Figure 4-6.
Figure 4-7.
Figure 4-8.
Figure 4-9.
Figure 4-10.
Figure 4-11.
Organizational State Transition via a Project
Project Initiation Context
Portfolio, Programs, Projects, and Operations
Organizational Project Management
Interrelationship of PMBOK® Guide Key Components in Projects
Example Process: Inputs, Tools & Techniques, and Outputs
Project Data, Information, and Report Flow
Interrelationship of Needs Assessment and Critical
Business/Project Documents
Project Influences
Example of Project Manager’s Sphere of Influence
The PMI Talent Triangle®
Project Integration Management Overview
Develop Project Charter: Inputs, Tools & Techniques, and
Develop Project Charter: Data Flow Diagram
Develop Project Management Plan: Inputs, Tools & Techniques,
and Outputs
Develop Project Management Plan: Data Flow Diagram
Direct and Manage Project Work: Inputs, Tools & Techniques,
and Outputs
Direct and Manage Project Work: Data Flow Diagram
Manage Project Knowledge: Inputs, Tools & Techniques, and
Manage Project Knowledge: Data Flow Diagram
Monitor and Control Project Work: Inputs, Tools & Techniques,
and Outputs
Monitor and Control Project Work: Data Flow Diagram
Figure 4-12.
Perform Integrated Change Control: Inputs, Tools & Techniques,
and Outputs
Figure 4-13.
Figure 4-14.
Figure 4-15.
Figure 5-1.
Perform Integrated Change Control: Data Flow Diagram
Close Project or Phase: Inputs, Tools & Techniques, and Outputs
Close Project or Phase: Data Flow Diagram
Project Scope Management Overview
Plan Scope Management: Inputs, Tools & Techniques, and
Plan Scope Management: Data Flow Diagram
Collect Requirements: Inputs, Tools & Techniques, and Outputs
Collect Requirements: Data Flow Diagram
Context Diagram
Example of a Requirements Traceability Matrix
Define Scope: Inputs, Tools & Techniques, and Outputs
Define Scope: Data Flow Diagram
Create WBS: Inputs, Tools & Techniques, and Outputs
Create WBS: Data Flow Diagram
Sample WBS Decomposed Down Through Work Packages
Sample WBS Organized by Phase
Sample WBS with Major Deliverables
Validate Scope: Inputs, Tools & Techniques, and Outputs
Validate Scope: Data Flow Diagram
Control Scope: Inputs, Tools & Techniques, and Outputs
Control Scope: Data Flow Diagram
Project Schedule Management Overview
Scheduling Overview
Plan Schedule Management: Inputs, Tools & Techniques, and
Plan Schedule Management: Data Flow Diagram
Define Activities: Inputs, Tools & Techniques, and Outputs
Define Activities: Data Flow Diagram
Sequence Activities: Inputs, Tools & Techniques, and Outputs
Sequence Activities: Data Flow Diagram
Precedence Diagramming Method (PDM) Relationship Types
Examples of Lead and Lag
Figure 5-2.
Figure 5-3.
Figure 5-4.
Figure 5-5.
Figure 5-6.
Figure 5-7.
Figure 5-8.
Figure 5-9.
Figure 5-10.
Figure 5-11.
Figure 5-12.
Figure 5-13.
Figure 5-14.
Figure 5-15.
Figure 5-16.
Figure 5-17.
Figure 5-18.
Figure 6-1.
Figure 6-2.
Figure 6-3.
Figure 6-4.
Figure 6-5.
Figure 6-6.
Figure 6-7.
Figure 6-8.
Figure 6-9.
Figure 6-10.
Figure 6-11.
Figure 6-12.
Figure 6-13.
Figure 6-14.
Figure 6-15.
Figure 6-16.
Figure 6-17.
Figure 6-18.
Figure 6-19.
Figure 6-20.
Figure 6-21.
Figure 6-22.
Figure 6-23.
Figure 6-24.
Figure 7-1.
Figure 7-2.
Figure 7-3.
Figure 7-4.
Figure 7-5.
Figure 7-6.
Figure 7-7.
Figure 7-8.
Figure 7-9.
Figure 7-10.
Figure 7-11.
Figure 7-12.
Figure 7-13.
Figure 8-1.
Figure 8-2.
Figure 8-3.
Figure 8-4.
Project Schedule Network Diagram
Estimate Activity Durations: Inputs, Tools & Techniques, and
Estimate Activity Durations: Data Flow Diagram
Develop Schedule: Inputs, Tools & Techniques, and Outputs
Develop Schedule: Data Flow Diagram
Example of Critical Path Method
Resource Leveling
Example Probability Distribution of a Target Milestone
Schedule Compression Comparison
Relationship Between Product Vision, Release Planning, and
Iteration Planning
Project Schedule Presentations—Examples
Control Schedule: Inputs, Tools & Techniques, and Outputs
Control Schedule: Data Flow Diagram
Iteration Burndown Chart
Project Cost Management Overview
Plan Cost Management: Inputs, Tools & Techniques, and Outputs
Plan Cost Management: Data Flow Diagram
Estimate Costs: Inputs, Tools & Techniques, and Outputs
Estimate Costs: Data Flow Diagram
Determine Budget: Inputs, Tools & Techniques, and Outputs
Determine Budget: Data Flow Diagram
Project Budget Components
Cost Baseline, Expenditures, and Funding Requirements
Control Costs: Inputs, Tools & Techniques, and Outputs
Control Costs: Data Flow Diagram
Earned Value, Planned Value, and Actual Costs
To-Complete Performance Index (TCPI)
Project Quality Management Overview
Major Project Quality Management Process Interrelations
Plan Quality Management: Inputs, Tools & Techniques, and
Plan Quality Management: Data Flow Diagram
Figure 8-5.
Figure 8-6.
Figure 8-7.
Cost of Quality
The SIPOC Model
Manage Quality: Inputs, Tools & Techniques, and Outputs
Figure 8-8.
Figure 8-9.
Figure 8-10.
Figure 8-11.
Figure 8-12.
Figure 9-1.
Manage Quality: Data Flow Diagram
Cause-and-Effect Diagram
Control Quality: Inputs, Tools & Techniques, and Outputs
Control Quality: Data Flow Diagram
Check Sheets
Project Resource Management Overview
Plan Resource Management: Inputs, Tools & Techniques, and
Plan Resource Management: Data Flow Diagram
Sample RACI Chart
Estimate Activity Resources: Inputs, Tools & Techniques, and
Estimate Activity Resources: Data Flow Diagram
Sample Resource Breakdown Structure
Acquire Resources: Inputs, Tools & Techniques, and Outputs
Acquire Resources: Data Flow Diagram
Develop Team: Inputs, Tools & Techniques, and Outputs
Develop Team: Data Flow Diagram
Manage Team: Inputs, Tools & Techniques, and Outputs
Manage Team: Data Flow Diagram
Control Resources: Inputs, Tools & Techniques, and Outputs
Control Resources: Data Flow Diagram
Project Communications Overview
Plan Communications Management: Inputs, Tools & Techniques,
and Outputs
Plan Communications Management: Data Flow Diagram
Communication Model for Cross-Cultural Communication
Manage Communications: Inputs, Tools & Techniques, and
Manage Communications: Data Flow Diagram
Monitor Communications: Inputs, Tools & Techniques, and
Figure 9-2.
Figure 9-3.
Figure 9-4.
Figure 9-5.
Figure 9-6.
Figure 9-7.
Figure 9-8.
Figure 9-9.
Figure 9-10.
Figure 9-11.
Figure 9-12.
Figure 9-13.
Figure 9-14.
Figure 9-15.
Figure 10-1.
Figure 10-2.
Figure 10-3.
Figure 10-4.
Figure 10-5.
Figure 10-6.
Figure 10-7.
Figure 10-8.
Figure 11-1.
Figure 11-2.
Figure 11-3.
Figure 11-4.
Figure 11-5.
Figure 11-6.
Figure 11-7.
Figure 11-8.
Figure 11-9.
Figure 11-10.
Figure 11-11.
Figure 11-12.
Figure 11-13.
Figure 11-14.
Figure 11-15.
Figure 11-16.
Figure 11-17.
Figure 11-18.
Figure 11-19.
Figure 11-20.
Figure 11-21.
Figure 12-1.
Figure 12-2.
Figure 12-3.
Figure 12-4.
Figure 12-5.
Figure 12-6.
Figure 12-7.
Monitor Communications: Data Flow Diagram
Project Risk Management Overview
Plan Risk Management: Inputs, Tools & Techniques, and Outputs
Plan Risk Management: Data Flow Diagram
Extract from Sample Risk Breakdown Structure (RBS)
Example Probability and Impact Matrix with Scoring Scheme
Identify Risks: Inputs, Tools & Techniques, and Outputs
Identify Risks: Data Flow Diagram
Perform Qualitative Risk Analysis: Inputs, Tools & Techniques,
and Outputs
Perform Qualitative Risk Analysis: Data Flow Diagram
Example Bubble Chart Showing Detectability, Proximity, and
Impact Value
Perform Quantitative Risk Analysis: Inputs, Tools & Techniques,
and Outputs
Perform Quantitative Risk Analysis: Data Flow Diagram
Example S-Curve from Quantitative Cost Risk Analysis
Example Tornado Diagram
Example Decision Tree
Plan Risk Responses: Inputs, Tools & Techniques, and Outputs
Plan Risk Responses: Data Flow Diagram
Implement Risk Responses: Inputs, Tools & Techniques, and
Implement Risk Responses: Data Flow Diagram
Monitor Risks: Inputs, Tools & Techniques, and Outputs
Monitor Risks: Data Flow Diagram
Project Procurement Management Overview
Plan Procurement Management: Inputs, Tools & Techniques, and
Plan Procurement Management: Data Flow Diagram
Conduct Procurements: Inputs, Tools & Techniques, and Outputs
Conduct Procurements: Data Flow Diagram
Control Procurements: Inputs, Tools & Techniques, and Outputs
Control Procurements: Data Flow Diagram
Figure 13-1.
Figure 13-2.
Figure 13-3.
Figure 13-4.
Figure 13-5.
Figure 13-6.
Figure 13-7.
Figure 13-8.
Figure 13-9.
Figure 13-10.
Table 1-1.
Table 1-2.
Table 1-3.
Table 1-4.
Table 1-5.
Table 2-1.
Table 3-1.
Table 4-1.
Table 5-1.
Table 7-1.
Table 11-1.
Table 12-1.
Project Stakeholder Management Overview
Identify Stakeholders: Inputs, Tools & Techniques, and Outputs
Identify Stakeholders: Data Flow Diagram
Plan Stakeholder Engagement: Inputs, Tools & Techniques, and
Plan Stakeholder Engagement: Data Flow Diagram
Stakeholder Engagement Assessment Matrix
Manage Stakeholder Engagement: Inputs, Tools & Techniques,
and Outputs
Manage Stakeholder Engagement: Data Flow Diagram
Monitor Stakeholder Engagement: Inputs, Tools & Techniques,
and Outputs
Monitor Stakeholder Engagement: Data Flow Diagram
Examples of Factors that Lead to the Creation of a Project
Comparative Overview of Portfolios, Programs, and Projects
Description of PMBOK® Guide Key Components
Project Management Process Group and Knowledge Area
Project Business Documents
Influences of Organizational Structures on Projects
Team Management and Team Leadership Compared
Project Management Plan and Project Documents
Elements of the Project Charter and Project Scope Statement
Earned Value Calculations Summary Table
Example of Definitions for Probability and Impacts
Comparison of Procurement Documentation
The Standard For Project Management
Figure 1-1.
Figure 1-2.
Figure 1-3.
Figure 1-4.
Example of Portfolio, Program, and Project Management
Generic Depiction of a Project Life Cycle
Impact of Variables Over Time
Examples of Project Stakeholders
Figure 1-5.
Figure 2-1.
Figure 2-2.
Example of Process Group Interactions Within a Project or Phase
Project Boundaries
Initiating Process Group
Figure 2-3.
Figure 2-4.
Figure 3-1.
Figure 3-2.
Figure 3-3.
Figure 3-4.
Figure 3-5.
Figure 3-6.
Figure 3-7.
Figure 3-8.
Figure 3-9.
Figure 3-10.
Figure 3-11.
Figure 3-12.
Figure 3-13.
Figure 3-14.
Figure 3-15.
Figure 3-16.
Figure 3-17.
Figure 3-18.
Figure 3-19.
Figure 3-20.
Figure 3-21.
Figure 3-22.
Figure 3-23.
Figure 3-24.
Figure 3-25.
Figure 4-1.
Figure 4-2.
Figure 4-3.
Figure 4-4.
Develop Project Charter: Inputs and Outputs
Identify Stakeholders: Inputs and Outputs
Planning Process Group
Develop Project Management Plan: Inputs and Outputs
Plan Scope Management: Inputs and Outputs
Collect Requirements: Inputs and Outputs
Define Scope: Inputs and Outputs
Create WBS: Inputs and Outputs
Plan Schedule Management: Inputs and Outputs
Define Activities: Inputs and Outputs
Sequence Activities: Inputs and Outputs
Estimate Activity Durations: Inputs and Outputs
Develop Schedule: Inputs and Outputs
Plan Cost Management: Inputs and Outputs
Estimate Costs: Inputs and Outputs
Determine Budget: Inputs and Outputs
Plan Quality Management: Inputs and Outputs
Plan Resource Management: Inputs and Outputs
Estimate Activity Resources: Inputs and Outputs
Plan Communications Management: Inputs and Outputs
Plan Risk Management: Inputs and Outputs
Identify Risks: Inputs and Outputs
Perform Qualitative Risk Analysis: Inputs and Outputs
Perform Quantitative Risk Analysis: Inputs and Outputs
Plan Risk Responses: Inputs and Outputs
Plan Procurement Management: Inputs and Outputs
Plan Stakeholder Engagement: Inputs and Outputs
Executing Process Group
Direct and Manage Project Work: Inputs and Outputs
Manage Project Knowledge: Inputs and Outputs
Manage Quality: Inputs and Outputs
Figure 4-5.
Figure 4-6.
Figure 4-7.
Figure 4-8.
Acquire Resources: Inputs and Outputs
Develop Team: Inputs and Outputs
Manage Team: Inputs and Outputs
Manage Communications: Inputs and Outputs
Figure 4-9.
Figure 4-10.
Figure 4-11.
Figure 5-1.
Figure 5-2.
Figure 5-3.
Figure 5-4.
Figure 5-5.
Figure 5-6.
Figure 5-7.
Figure 5-8.
Figure 5-9.
Figure 5-10.
Figure 5-11.
Figure 5-12.
Figure 5-13.
Figure 6-1.
Figure 6-2.
Implement Risk Responses: Inputs and Outputs
Conduct Procurements: Inputs and Outputs
Manage Stakeholder Engagement: Inputs and Outputs
Monitoring and Controlling Process Group
Monitor and Control Project Work: Inputs and Outputs
Perform Integrated Change Control: Inputs and Outputs
Validate Scope: Inputs and Outputs
Control Scope: Inputs and Outputs
Control Schedule: Inputs and Outputs
Control Costs: Inputs and Outputs
Control Quality: Inputs and Outputs
Control Resources: Inputs and Outputs
Monitor Communications: Inputs and Outputs
Monitor Risks: Inputs and Outputs
Control Procurements: Inputs and Outputs
Monitor Stakeholder Engagement: Inputs and Outputs
Closing Process Group
Close Project or Phase: Inputs and Outputs
Table 1-1.
Table 1-2.
Project Management Process Group and Knowledge Area
Project Management Plan and Project Documents
Figure X3-1.
Figure X3-2.
Figure X3-3.
The Continuum of Project Life Cycles
Level of Effort for Process Groups across Iteration Cycles
Relationship of Process Groups in Continuous Phases
Table X1-1.
Section 4 Changes
Table X1-2.
Table X1-3.
Table X1-4.
Table X1-5.
Table X1-6.
Section 6 Changes
Section 8 Changes
Section 9 Changes
Section 10 Changes
Section 11 Changes
Table X1-7.
Table X1-8.
Table X6-1.
Section 12 Changes
Section 13 Changes
Categorization and Index of Tools and Techniques
Part 1
A Guide to the Project Management Body of
The information contained in this part is not an American National Standard (ANS) and has not been processed in accordance with ANSI’s
requirements for an ANS. As such, the information in this part may contain material that has not been subjected to public review or a
consensus process. In addition, it does not contain requirements necessary for conformance to an ANS standard.
Project management is not new. It has been in use for hundreds of years. Examples of project outcomes
Pyramids of Giza,
Olympic games,
Great Wall of China,
Taj Mahal,
Publication of a children’s book,
Panama Canal,
Development of commercial jet airplanes,
Polio vaccine,
Human beings landing on the moon,
Commercial software applications,
Portable devices to use the global positioning system (GPS), and
Placement of the International Space Station into Earth’s orbit.
The outcomes of these projects were the result of leaders and managers applying project management
practices, principles, processes, tools, and techniques to their work. The managers of these projects used
a set of key skills and applied knowledge to satisfy their customers and other people involved in and
affected by the project. By the mid-20th century, project managers began the work of seeking recognition
for project management as a profession. One aspect of this work involved obtaining agreement on the
content of the body of knowledge (BOK) called project management. This BOK became known as the
Project Management Body of Knowledge (PMBOK). The Project Management Institute (PMI) produced a
baseline of charts and glossaries for the PMBOK. Project managers soon realized that no single book
could contain the entire PMBOK. Therefore, PMI developed and published A Guide to the Project
Management Body of Knowledge (PMBOK® Guide).
PMI defines the project management body of knowledge (PMBOK) as a term that describes the
knowledge within the profession of project management. The project management body of knowledge
includes proven traditional practices that are widely applied as well as innovative practices that are
emerging in the profession.
The body of knowledge (BOK) includes both published and unpublished materials. This body of
knowledge is constantly evolving. This PMBOK® Guide identifies a subset of the project management
body of knowledge that is generally recognized as good practice.
Generally recognized means the knowledge and practices described are applicable to most
projects most of the time, and there is consensus about their value and usefulness.
Good practice means there is general agreement that the application of the knowledge, skills,
tools, and techniques to project management processes can enhance the chance of success over
many projects in delivering the expected business values and results.
The project manager works with the project team and other stakeholders to determine and use the
appropriate generally recognized good practices for each project. Determining the appropriate
combination of processes, inputs, tools, techniques, outputs and life cycle phases to manage a project is
referred to as “tailoring” the application of the knowledge described in this guide.
This PMBOK® Guide is different from a methodology. A methodology is a system of practices,
techniques, procedures, and rules used by those who work in a discipline. This PMBOK® Guide is a
foundation upon which organizations can build methodologies, policies, procedures, rules, tools and
techniques, and life cycle phases needed to practice project management.
This guide is based on The Standard for Project Management [1]. A standard is a document
established by an authority, custom, or general consent as a model or example. As an American National
Standards Institute (ANSI) standard, The Standard for Project Management was developed using a
process based on the concepts of consensus, openness, due process, and balance. The Standard for
Project Management is a foundational reference for PMI’s project management professional development
programs and the practice of project management. Because project management needs to be tailored to fit
the needs of the project, the standard and the guide are both based on descriptive practices, rather than
prescriptive practices. Therefore, the standard identifies the processes that are considered good practices
on most projects, most of the time. The standard also identifies the inputs and outputs that are usually
associated with those processes. The standard does not require that any particular process or practice be
performed. The Standard for Project Management is included as Part II of A Guide to the Project
Management Body of Knowledge (PMBOK® Guide).
The PMBOK® Guide provides more detail about key concepts, emerging trends, considerations for
tailoring the project management processes, and information on how tools and techniques are applied to
projects. Project managers may use one or more methodologies to implement the project management
processes outlined in the standard.
The scope of this guide is limited to the discipline of project management, rather than the full spectrum
of portfolios, programs, and projects. Portfolios and programs will be addressed only to the degree they
interact with projects. PMI publishes two other standards that address the management of portfolios and
The Standard for Portfolio Management [2], and
The Standard for Program Management [3].
A common vocabulary is an essential element of a professional discipline. The PMI Lexicon of Project
Management Terms [4] provides the foundational professional vocabulary that can be consistently used
by organizations, portfolio, program, and project managers and other project stakeholders. The Lexicon
will continue to evolve over time. The glossary to this guide includes the vocabulary in the Lexicon along
with additional definitions. There may be other industry-specific terms used in projects that are defined
by that industry’s literature.
PMI publishes the Code of Ethics and Professional Conduct [5] to instill confidence in the project
management profession and to help an individual in making wise decisions, particularly when faced with
difficult situations where the individual may be asked to compromise his or her integrity or values. The
values that the global project management community defined as most important were responsibility,
respect, fairness, and honesty. The Code of Ethics and Professional Conduct affirms these four values as
its foundation.
The Code of Ethics and Professional Conduct includes both aspirational standards and mandatory
standards. The aspirational standards describe the conduct that practitioners, who are also PMI members,
certification holders, or volunteers, strive to uphold. Although adherence to the aspirational standards is
not easily measured, conduct in accordance with these is an expectation for those who consider
themselves to be professionals—it is not optional. The mandatory standards establish firm requirements
and, in some cases, limit or prohibit practitioner behavior. Practitioners who are also PMI members,
certification holders, or volunteers and who do not conduct themselves in accordance with these
standards will be subject to disciplinary procedures before PMI’s Ethics Review Committee.
This section describes foundational elements necessary for working in and understanding the discipline
of project management.
A project is a temporary endeavor undertaken to create a unique product, service, or result.
Unique product, service, or result. Projects are undertaken to fulfill objectives by producing
deliverables. An objective is defined as an outcome toward which work is to be directed, a
strategic position to be attained, a purpose to be achieved, a result to be obtained, a product to
be produced, or a service to be performed. A deliverable is defined as any unique and
verifiable product, result, or capability to perform a service that is required to be produced to
complete a process, phase, or project. Deliverables may be tangible or intangible.
Fulfillment of project objectives may produce one or more of the following deliverables:
A unique product that can be either a component of another item, an enhancement or correction
to an item, or a new end item in itself (e.g., the correction of a defect in an end item);
A unique service or a capability to perform a service (e.g., a business function that supports
production or distribution);
A unique result, such as an outcome or document (e.g., a research project that develops
knowledge that can be used to determine whether a trend exists or a new process will benefit
society); and
A unique combination of one or more products, services, or results (e.g., a software
application, its associated documentation, and help desk services).
Repetitive elements may be present in some project deliverables and activities. This repetition does
not change the fundamental and unique characteristics of the project work. For example, office
buildings can be constructed with the same or similar materials and by the same or different teams.
However, each building project remains unique in key characteristics (e.g., location, design,
environment, situation, people involved).
Projects are undertaken at all organizational levels. A project can involve a single individual or a
group. A project can involve a single organizational unit or multiple organizational units from
multiple organizations.
Examples of projects include but are not limited to:
Developing a new pharmaceutical compound for market,
Expanding a tour guide service,
Merging two organizations,
Improving a business process within an organization,
Acquiring and installing a new computer hardware system for use in an organization,
Exploring for oil in a region,
Modifying a computer software program used in an organization,
Conducting research to develop a new manufacturing process, and
Constructing a building.
Temporary endeavor. The temporary nature of projects indicates that a project has a definite
beginning and end. Temporary does not necessarily mean a project has a short duration. The end
of the project is reached when one or more of the following is true:
The project’s objectives have been achieved;
The objectives will not or cannot be met;
Funding is exhausted or no longer available for allocation to the project;
The need for the project no longer exists (e.g., the customer no longer wants the project
completed, a change in strategy or priority ends the project, the organizational management
provides direction to end the project);
The human or physical resources are no longer available; or
The project is terminated for legal cause or convenience.
Projects are temporary, but their deliverables may exist beyond the end of the project. Projects may
produce deliverables of a social, economic, material, or environmental nature. For example, a
project to build a national monument will create a deliverable expected to last for centuries.
Projects drive change. Projects drive change in organizations. From a business perspective, a
project is aimed at moving an organization from one state to another state in order to achieve a
specific objective (see Figure 1-1). Before the project begins, the organization is commonly
referred to as being in the current state. The desired result of the change driven by the project is
described as the future state.
For some projects, this may involve creating a transition state where multiple steps are made
along a continuum to achieve the future state. The successful completion of a project results in
the organization moving to the future state and achieving the specific objective. For more
information on project management and change, see Managing Change in Organizations: A
Practice Guide [6].
Projects enable business value creation. PMI defines business value as the net quantifiable
benefit derived from a business endeavor. The benefit may be tangible, intangible, or both. In
business analysis, business value is considered the return, in the form of elements such as time,
money, goods, or intangibles in return for something exchanged (see Business Analysis for
Practitioners: A Practice Guide, p. 185 [7]).
Business value in projects refers to the benefit that the results of a specific project provide to its
stakeholders. The benefit from projects may be tangible, intangible, or both.
Examples of tangible elements include:
Monetary assets,
Stockholder equity,
Tools, and
Market share.
Examples of intangible elements include:
Brand recognition,
Public benefit,
Strategic alignment, and
Project Initiation Context. Organizational leaders initiate projects in response to factors
acting upon their organizations. There are four fundamental categories for these factors, which
illustrate the context of a project (see Figure 1-2):
Meet regulatory, legal, or social requirements;
Satisfy stakeholder requests or needs;
Implement or change business or technological strategies; and
Create, improve, or fix products, processes, or services.
These factors influence an organization’s ongoing operations and business strategies. Leaders respond
to these factors in order to keep the organization viable. Projects provide the means for organizations to
successfully make the changes necessary to deal with these factors. These factors ultimately should link to
the strategic objectives of the organization and the business value of each project.
Project management is the application of knowledge, skills, tools, and techniques to project activities
to meet the project requirements. Project management is accomplished through the appropriate application
and integration of the project management processes identified for the project. Project management
enables organizations to execute projects effectively and efficiently.
Effective project management helps individuals, groups, and public and private organizations to:
Meet business objectives;
Satisfy stakeholder expectations;
Be more predictable;
Increase chances of success;
Deliver the right products at the right time;
Resolve problems and issues;
Respond to risks in a timely manner;
Optimize the use of organizational resources;
Identify, recover, or terminate failing projects;
Manage constraints (e.g., scope, quality, schedule, costs, resources);
Balance the influence of constraints on the project (e.g., increased scope may increase cost or
schedule); and
Manage change in a better manner.
Poorly managed projects or the absence of project management may result in:
Missed deadlines,
Cost overruns,
Poor quality,
Uncontrolled expansion of the project,
Loss of reputation for the organization,
Unsatisfied stakeholders, and
Failure in achieving the objectives for which the project was undertaken.
Projects are a key way to create value and benefits in organizations. In today’s business environment,
organizational leaders need to be able to manage with tighter budgets, shorter timelines, scarcity of
resources, and rapidly changing technology. The business environment is dynamic with an accelerating
rate of change. To remain competitive in the world economy, companies are embracing project
management to consistently deliver business value.
Effective and efficient project management should be considered a strategic competency within
organizations. It enables organizations to:
Tie project results to business goals,
Compete more effectively in their markets,
Sustain the organization, and
Respond to the impact of business environment changes on projects by appropriately adjusting
project management plans (see Section 4.2).
Using project management processes, tools, and techniques puts in place a sound foundation for
organizations to achieve their goals and objectives. A project may be managed in three separate
scenarios: as a stand-alone project (outside of a portfolio or program), within a program, or within a
portfolio. Project managers interact with portfolio and program managers when a project is within a
program or portfolio. For example, multiple projects may be needed to accomplish a set of goals and
objectives for an organization. In those situations, projects may be grouped together into a program. A
program is defined as a group of related projects, subsidiary programs, and program activities managed
in a coordinated manner to obtain benefits not available from managing them individually. Programs are
not large projects. A very large project may be referred to as a megaproject. As a guideline, megaprojects
cost US$1billion or more, affect 1 million or more people, and run for years.
Some organizations may employ the use of a project portfolio to effectively manage multiple programs
and projects that are underway at any given time. A portfolio is defined as projects, programs, subsidiary
portfolios, and operations managed as a group to achieve strategic objectives. Figure 1-3 illustrates an
example of how portfolios, programs, projects, and operations are related in a specific situation.
Program management and portfolio management differ from project management in their life cycles,
activities, objectives, focus, and benefits. However, portfolios, programs, projects, and operations often
engage with the same stakeholders and may need to use the same resources (see Figure 1-3), which may
result in a conflict in the organization. This type of a situation increases the need for coordination within
the organization through the use of portfolio, program, and project management to achieve a workable
balance in the organization.
Figure 1-3 illustrates a sample portfolio structure indicating relationships between the programs,
projects, shared resources, and stakeholders. The portfolio components are grouped together in order to
facilitate the effective governance and management of the work that helps to achieve organizational
strategies and priorities. Organizational and portfolio planning impact the components by means of
prioritization based on risk, funding, and other considerations. The portfolio view allows organizations to
see how the strategic goals are reflected in the portfolio. This portfolio view also enables the
implementation and coordination of appropriate portfolio, program, and project governance. This
coordinated governance allows authorized allocation of human, financial, and physical resources based
on expected performance and benefits.
Looking at project, program, and portfolio management from an organizational perspective:
Program and project management focus on doing programs and projects the “right” way; and
Portfolio management focuses on doing the “right” programs and projects.
Table 1-2 gives a comparative overview of portfolios, programs, and projects. PROGRAM MANAGEMENT
Program management is defined as the application of knowledge, skills, and principles to a program to
achieve the program objectives and to obtain benefits and control not available by managing program
components individually. A program component refers to projects and other programs within a program.
Project management focuses on interdependencies within a project to determine the optimal approach for
managing the project. Program management focuses on the interdependencies between projects and
between projects and the program level to determine the optimal approach for managing them. Actions
related to these program and project-level interdependencies may include:
Aligning with the organizational or strategic direction that affects program and project goals
and objectives;
Allocating the program scope into program components;
Managing interdependencies among the components of the program to best serve the program;
Managing program risks that may impact multiple projects in the program;
Resolving constraints and conflicts that affect multiple projects within the program;
Resolving issues between component projects and the program level;
Managing change requests within a shared governance framework;
Allocating budgets across multiple projects within the program; and
Assuring benefits realization from the program and component projects.
An example of a program is a new communications satellite system with projects for the design and
construction of the satellite and the ground stations, the launch of the satellite, and the integration of the
For more information on program management, see The Standard for Program Management [3]. PORTFOLIO MANAGEMENT
A portfolio is defined as projects, programs, subsidiary portfolios, and operations managed as a group
to achieve strategic objectives.
Portfolio management is defined as the centralized management of one or more portfolios to achieve
strategic objectives. The programs or projects of the portfolio may not necessarily be interdependent or
directly related.
The aim of portfolio management is to:
Guide organizational investment decisions.
Select the optimal mix of programs and projects to meet strategic objectives.
Provide decision-making transparency.
Prioritize team and physical resource allocation.
Increase the likelihood of realizing the desired return on investment.
Centralize the management of the aggregate risk profile of all components.
Portfolio management also confirms that the portfolio is consistent with and aligned with organizational
Maximizing the value of the portfolio requires careful examination of the components that comprise the
portfolio. Components are prioritized so that those contributing the most to the organization’s strategic
objectives have the required financial, team, and physical resources.
For example, an infrastructure organization that has the strategic objective of maximizing the return on
its investments may put together a portfolio that includes a mix of projects in oil and gas, power, water,
roads, rail, and airports. From this mix, the organization may choose to manage related projects as one
portfolio. All of the power projects may be grouped together as a power portfolio. Similarly, all of the
water projects may be grouped together as a water portfolio. However, when the organization has
projects in designing and constructing a power plant and then operates the power plant to generate energy,
those related projects can be grouped in one program. Thus, the power program and similar water
program become integral components of the portfolio of the infrastructure organization.
For more information on portfolio management, see The Standard for Portfolio Management [2]. OPERATIONS MANAGEMENT
Operations management is an area that is outside the scope of formal project management as described
in this guide.
Operations management is concerned with the ongoing production of goods and/or services. It ensures
that business operations continue efficiently by using the optimal resources needed to meet customer
demands. It is concerned with managing processes that transform inputs (e.g., materials, components,
energy, and labor) into outputs (e.g., products, goods, and/or services). OPERATIONS AND PROJECT MANAGEMENT
Changes in business or organizational operations may be the focus of a project—especially when there
are substantial changes to business operations as a result of a new product or service delivery. Ongoing
operations are outside of the scope of a project; however, there are intersecting points where the two
areas cross.
Projects can intersect with operations at various points during the product life cycle, such as;
When developing a new product, upgrading a product, or expanding outputs;
While improving operations or the product development process;
At the end of the product life cycle; and
At each closeout phase.
At each point, deliverables and knowledge are transferred between the project and operations for
implementation of the delivered work. This implementation occurs through a transfer of project resources
or knowledge to operations or through a transfer of operational resources to the project. ORGANIZATIONAL PROJECT MANAGEMENT (OPM) AND STRATEGIES
Portfolios, programs, and projects are aligned with or driven by organizational strategies and differ in
the way each contributes to the achievement of strategic goals:
Portfolio management aligns portfolios with organizational strategies by selecting the right
programs or projects, prioritizing the work, and providing the needed resources.
Program management harmonizes its program components and controls interdependencies in
order to realize specified benefits.
Project management enables the achievement of organizational goals and objectives.
Within portfolios or programs, projects are a means of achieving organizational goals and objectives.
This is often accomplished in the context of a strategic plan that is the primary factor guiding investments
in projects. Alignment with the organization’s strategic business goals can be achieved through the
systematic management of portfolios, programs, and projects through the application of organizational
project management (OPM). OPM is defined as a framework in which portfolio, program, and project
management are integrated with organizational enablers in order to achieve strategic objectives.
The purpose of OPM is to ensure that the organization undertakes the right projects and allocates
critical resources appropriately. OPM also helps to ensure that all levels in the organization understand
the strategic vision, the initiatives that support the vision, the objectives, and the deliverables. Figure 1-4
shows the organizational environment where strategy, portfolio, programs, projects, and operations
For more information on OPM, refer to Implementing Organizational Project Management: A
Practice Guide [8].
Projects comprise several key components that, when effectively managed, result in their successful
completion. This guide identifies and explains these components. The various components interrelate to
one another during the management of a project.
The key components are described briefly in Table 1-3. These components are more fully explained in
the sections that follow the table.
Table 1-3. Description of PMBOK® Guide Key Components
PMBOK® Guide Key Component
Brief Description
Project life cycle (Section
The series of phases that a project passes through from its start to its completion.
Project phase (Section
A collection of logically related project activities that culminates in the completion
of one or more deliverables.
Phase gate (Section
A review at the end of a phase in which a decision is made to continue to the
next phase, to continue with modification, or to end a program or project.
Project management processes (Section
A systematic series of activities directed toward causing an end result where one
or more inputs will be acted upon to create one or more outputs.
Project Management Process Group (Section
A logical grouping of project management inputs, tools and techniques, and
outputs. The Project Management Process Groups include Initiating, Planning,
Executing, Monitoring and Controlling, and Closing. Project Management
Process Groups are not project phases.
Project Management Knowledge Area (Section
An identified area of project management defined by its knowledge requirements
and described in terms of its component processes, practices, inputs, outputs,
A project life cycle is the series of phases that a project passes through from its start to its completion.
It provides the basic framework for managing the project. This basic framework applies regardless of the
specific project work involved. The phases may be sequential, iterative, or overlapping. All projects can
be mapped to the generic life cycle shown in Figure 1-5.
Project life cycles can be predictive or adaptive. Within a project life cycle, there are generally one or
more phases that are associated with the development of the product, service, or result. These are called a
development life cycle. Development life cycles can be predictive, iterative, incremental, adaptive, or a
hybrid model:
In a predictive life cycle, the project scope, time, and cost are determined in the early phases of
the life cycle. Any changes to the scope are carefully managed. Predictive life cycles may also
be referred to as waterfall life cycles.
In an iterative life cycle, the project scope is generally determined early in the project life
cycle, but time and cost estimates are routinely modified as the project team’s understanding of
the product increases. Iterations develop the product through a series of repeated cycles, while
increments successively add to the functionality of the product.
In an incremental life cycle, the deliverable is produced through a series of iterations that
successively add functionality within a predetermined time frame. The deliverable contains the
necessary and sufficient capability to be considered complete only after the final iteration.
Adaptive life cycles are agile, iterative, or incremental. The detailed scope is defined and
approved before the start of an iteration. Adaptive life cycles are also referred to as agile or
change-driven life cycles. See Appendix X3.
A hybrid life cycle is a combination of a predictive and an adaptive life cycle. Those elements
of the project that are well known or have fixed requirements follow a predictive development
life cycle, and those elements that are still evolving follow an adaptive development life cycle.
It is up to the project management team to determine the best life cycle for each project. The project life
cycle needs to be flexible enough to deal with the variety of factors included in the project. Life cycle
flexibility may be accomplished by:
Identifying the process or processes needed to be performed in each phase,
Performing the process or processes identified in the appropriate phase,
Adjusting the various attributes of a phase (e.g., name, duration, exit criteria, and entrance
Project life cycles are independent of product life cycles, which may be produced by a project. A
product life cycle is the series of phases that represent the evolution of a product, from concept through
delivery, growth, maturity, and to retirement. PROJECT PHASE
A project phase is a collection of logically related project activities that culminates in the completion
of one or more deliverables. The phases in a life cycle can be described by a variety of attributes.
Attributes may be measurable and unique to a specific phase. Attributes may include but are not limited
Name (e.g., Phase A, Phase B, Phase 1, Phase 2, proposal phase),
Number (e.g., three phases in the project, five phases in the project),
Duration (e.g., 1 week, 1 month, 1 quarter),
Resource requirements (e.g., people, buildings, equipment),
Entrance criteria for a project to move into that phase (e.g., specified approvals documented,
specified documents completed), and
Exit criteria for a project to complete a phase (e.g., documented approvals, completed
documents, completed deliverables).
Projects may be separated into distinct phases or subcomponents. These phases or subcomponents are
generally given names that indicate the type of work done in that phase. Examples of phase names include
but are not limited to:
Concept development,
Feasibility study,
Customer requirements,
Solution development,
Milestone review, and
Lessons learned.
The project phases may be established based on various factors including, but not limited to:
Management needs;
Nature of the project;
Unique characteristics of the organization, industry, or technology;
Project elements including, but not limited to, technology, engineering, business, process, or
legal; and
Decision points (e.g., funding, project go/no-go, and milestone review).
Using multiple phases may provide better insight to managing the project. It also provides an
opportunity to assess the project performance and take necessary corrective or preventive actions in
subsequent phases. A key component used with project phases is the phase review (see Section PHASE GATE
A phase gate, is held at the end of a phase. The project’s performance and progress are compared to
project and business documents including but not limited to:
Project business case (see Section,
Project charter (see Section 4.1),
Project management plan (see Section 4.2), and
Benefits management plan (see Section
A decision (e.g., go/no-go decision) is made as a result of this comparison to:
Continue to the next phase,
Continue to the next phase with modification,
End the project,
Remain in the phase, or
Repeat the phase or elements of it.
Depending on the organization, industry, or type of work, phase gates may be referred to by other terms
such as, phase review, stage gate, kill point, and phase entrance or phase exit. Organizations may use
these reviews to examine other pertinent items which are beyond the scope of this guide, such as productrelated documents or models. PROJECT MANAGEMENT PROCESSES
The project life cycle is managed by executing a series of project management activities known as
project management processes. Every project management process produces one or more outputs from
one or more inputs by using appropriate project management tools and techniques. The output can be a
deliverable or an outcome. Outcomes are an end result of a process. Project management processes apply
globally across industries.
Project management processes are logically linked by the outputs they produce. Processes may contain
overlapping activities that occur throughout the project. The output of one process generally results in
An input to another process, or
A deliverable of the project or project phase.
Figure 1-6 shows an example of how inputs, tools and techniques, and outputs relate to each other
within a process, and with other processes.
The number of process iterations and interactions between processes varies based on the needs of the
project. Processes generally fall into one of three categories:
Processes used once or at predefined points in the project. The processes Develop Project
Charter and Close Project or Phase are examples.
Processes that are performed periodically as needed. The process Acquire Resources is
performed as resources are needed. The process Conduct Procurements is performed prior to
needing the procured item.
Processes that are performed continuously throughout the project. The process Define
Activities may occur throughout the project life cycle, especially if the project uses rolling
wave planning or an adaptive development approach. Many of the monitoring and control
processes are ongoing from the start of the project, until it is closed out.
Project management is accomplished through the appropriate application and integration of logically
grouped project management processes. While there are different ways of grouping processes, the
PMBOK® Guide groups processes into five categories called Process Groups. PROJECT MANAGEMENT PROCESS GROUPS
A Project Management Process Group is a logical grouping of project management processes to
achieve specific project objectives. Process Groups are independent of project phases. Project
management processes are grouped into the following five Project Management Process Groups:
Initiating Process Group. Those processes performed to define a new project or a new phase
of an existing project by obtaining authorization to start the project or phase.
Planning Process Group. Those processes required to establish the scope of the project, refine
the objectives, and define the course of action required to attain the objectives that the project
was undertaken to achieve.
Executing Process Group. Those processes performed to complete the work defined in the
project management plan to satisfy the project requirements.
Monitoring and Controlling Process Group. Those processes required to track, review, and
regulate the progress and performance of the project; identify any areas in which changes to the
plan are required; and initiate the corresponding changes.
Closing Process Group. Those processes performed to formally complete or close the project,
phase, or contract.
Process flow diagrams are used throughout this guide. The project management processes are linked by
specific inputs and outputs where the result or outcome of one process may become the input to another
process that is not necessarily in the same Process Group. Note that Process Groups are not the same as
In addition to Process Groups, processes are also categorized by Knowledge Areas. A Knowledge
Area is an identified area of project management defined by its knowledge requirements and described in
terms of its component processes, practices, inputs, outputs, tools, and techniques.
Although the Knowledge Areas are interrelated, they are defined separately from the project
management perspective. The ten Knowledge Areas identified in this guide are used in most projects most
of the time. The ten Knowledge Areas described in this guide are:
Project Integration Management. Includes the processes and activities to identify, define,
combine, unify, and coordinate the various processes and project management activities within
the Project Management Process Groups.
Project Scope Management. Includes the processes required to ensure the project includes all
the work required, and only the work required, to complete the project successfully.
Project Schedule Management. Includes the processes required to manage the timely
completion of the project.
Project Cost Management. Includes the processes involved in planning, estimating,
budgeting, financing, funding, managing, and controlling costs so the project can be completed
within the approved budget.
Project Quality Management. Includes the processes for incorporating the organization’s
quality policy regarding planning, managing, and controlling project and product quality
requirements, in order to meet stakeholders’ expectations.
Project Resource Management. Includes the processes to identify, acquire, and manage the
resources needed for the successful completion of the project.
Project Communications Management. Includes the processes required to ensure timely and
appropriate planning, collection, creation, distribution, storage, retrieval, management, control,
monitoring, and ultimate disposition of project information.
Project Risk Management. Includes the processes of conducting risk management planning,
identification, analysis, response planning, response implementation, and monitoring risk on a
Project Procurement Management. Includes the processes necessary to purchase or acquire
products, services, or results needed from outside the project team.
Project Stakeholder Management. Includes the processes required to identify the people,
groups, or organizations that could impact or be impacted by the project, to analyze stakeholder
expectations and their impact on the project, and to develop appropriate management strategies
for effectively engaging stakeholders in project decisions and execution.
The needs of a specific project may require one or more additional Knowledge Areas, for example,
construction may require financial management or safety and health management. Table 1-4 maps the
Project Management Process Groups and Knowledge Areas. Sections 4 through 13 provide more detail
about each Knowledge Area. This table is an overview of the basic processes described in Sections 4
Throughout the life cycle of a project, a significant amount of data is collected, analyzed, and
transformed. Project data are collected as a result of various processes and are shared within the project
team. The collected data are analyzed in context, aggregated, and transformed to become project
information during various processes. Information is communicated verbally or stored and distributed in
various formats as reports. See Section 4.3 for more detail on this topic.
Project data are regularly collected and analyzed throughout the project life cycle. The following
definitions identify key terminology regarding project data and information:
Work performance data. The raw observations and measurements identified during activities
performed to carry out the project work. Examples include reported percent of work physically
completed, quality and technical performance measures, start and finish dates of schedule
activities, number of change requests, number of defects, actual costs, actual durations, etc.
Project data are usually recorded in a Project Management Information System (PMIS) (see
Section and in project documents.
Work performance information. The performance data collected from various controlling
processes, analyzed in context and integrated based on relationships across areas. Examples of
performance information are status of deliverables, implementation status for change requests,
and forecast estimates to complete.
Work performance reports. The physical or electronic representation of work performance
information compiled in project documents, which is intended to generate decisions or raise
issues, actions, or awareness. Examples include status reports, memos, justifications,
information notes, electronic dashboards, recommendations, and updates.
Figure 1-7 shows the flow of project information across the various processes used in managing the
Usually, project managers apply a project management methodology to their work. A methodology is a
system of practices, techniques, procedures, and rules used by those who work in a discipline. This
definition makes it clear that this guide itself is not a methodology.
This guide and The Standard for Project Management [1] are recommended references for tailoring,
because these standard documents identify the subset of the project management body of knowledge that is
generally recognized as good practice. “Good practice” does not mean that the knowledge described
should always be applied uniformly to all projects. Specific methodology recommendations are outside
the scope of this guide.
Project management methodologies may be:
Developed by experts within the organization,
Purchased from vendors,
Obtained from professional associations, or
Acquired from government agencies.
The appropriate project management processes, inputs, tools, techniques, outputs, and life cycle phases
should be selected to manage a project. This selection activity is known as tailoring project management
to the project. The project manager collaborates with the project team, sponsor, organizational
management, or some combination thereof, in the tailoring. In some cases, the organization may require
specific project management methodologies be used.
Tailoring is necessary because each project is unique; not every process, tool, technique, input, or
output identified in the PMBOK® Guide is required on every project. Tailoring should address the
competing constraints of scope, schedule, cost, resources, quality, and risk. The importance of each
constraint is different for each project, and the project manager tailors the approach for managing these
constraints based on the project environment, organizational culture, stakeholder needs, and other
In tailoring project management, the project manager should also consider the varying levels of
governance that may be required and within which the project will operate, as well as considering the
culture of the organization. In addition, consideration of whether the customer of the project is internal or
external to the organization may affect project management tailoring decisions.
Sound project management methodologies take into account the unique nature of projects and allow
tailoring, to some extent, by the project manager. However, the tailoring that is included in the
methodology may still require additional tailoring for a given project.
The project manager needs to ensure that the project management approach captures the intent of
business documents. These documents are defined in Table 1-5. These two documents are interdependent
and iteratively developed and maintained throughout the life cycle of the project.
Table 1-5. Project Business Documents
Project Business Documents
Project business case
A documented economic feasibility study used to establish the validity of the
benefits of a selected component lacking sufficient definition and that is used as
a basis for the authorization of further project management activities.
Project benefits management plan
The documented explanation defining the processes for creating, maximizing, and
sustaining the benefits provided by a project.
The project sponsor is generally accountable for the development and maintenance of the project
business case document. The project manager is responsible for providing recommendations and
oversight to keep the project business case, project management plan, project charter, and project benefits
management plan success measures in alignment with one another and with the goals and objectives of the
Project managers should appropriately tailor the noted project management documents for their
projects. In some organizations, the business case and benefits management plan are maintained at the
program level. Project managers should work with the appropriate program managers to ensure the
project management documents are aligned with the program documents. Figure 1-8 illustrates the
interrelationship of these critical project management business documents and the needs assessment.
Figure 1-8 shows an approximation of the life cycle of these various documents against the project life
The project business case is a documented economic feasibility study used to establish the validity of
the benefits of a selected component lacking sufficient definition and that is used as a basis for the
authorization of further project management activities. The business case lists the objectives and reasons
for project initiation. It helps measure the project success at the end of the project against the project
objectives. The business case is a project business document that is used throughout the project life cycle.
The business case may be used before the project initiation and may result in a go/no-go decision for the
A needs assessment often precedes the business case. The needs assessment involves understanding
business goals and objectives, issues, and opportunities and recommending proposals to address them.
The results of the needs assessment may be summarized in the business case document.
The process of defining the business need, analyzing the situation, making recommendations, and
defining evaluation criteria is applicable to any organization’s projects. A business case may include but
is not limited to documenting the following:
Business needs:
Determination of what is prompting the need for action;
Situational statement documenting the business problem or opportunity to be addressed
including the value to be delivered to the organization;
Identification of stakeholders affected; and
Identification of the scope.
Analysis of the situation:
Identification of organizational strategies, goals, and objectives;
Identification of root cause(s) of the problem or main contributors of an opportunity;
Gap analysis of capabilities needed for the project versus existing capabilities of the
Identification of known risks;
Identification of critical success factors;
Identification of decision criteria by which the various courses of action may be assessed;
Examples of criteria categories used for analysis of a situation are:
Required. This is a criterion that is “required” to be fulfilled to address the problem or
Desired. This is a criterion that is “desired” to be fulfilled to address the problem or
Optional. This is a criterion that is not essential. Fulfillment of this criterion may become
a differentiator between alternative courses of action.
Identification of a set of options to be considered for addressing the business problem or
opportunity. Options are alternative courses of action that may be taken by the organization.
Options may also be described as business scenarios. For example, a business case could
present the following three options:
Do nothing. This is also referred to as the “business as usual” option. Selection of this
option results in the project not being authorized.
Do the minimum work possible to address the problem or opportunity. The minimum may
be established by identifying the set of documented criteria that are key in addressing the
problem or opportunity.
Do more than the minimum work possible to address the problem or opportunity. This
option meets the minimum set of criteria and some or all of the other documented criteria.
There may be more than one of these options documented in the business case.
A statement of the recommended option to pursue in the project;
Items to include in the statement may include but are not limited to:
Analysis results for the potential option;
Constraints, assumptions, risks, and dependencies for the potential options; and
Success measures (see Section
An implementation approach that may include but is not limited to:
Dependencies, and
Roles and responsibilities.
Statement describing the plan for measuring benefits the project will deliver. This should
include any ongoing operational aspects of the recommended option beyond initial
The business case document provides the basis to measure success and progress throughout the project
life cycle by comparing the results with the objectives and the identified success criteria. See Business
Analysis for Practitioners: A Practice Guide [7]. PROJECT BENEFITS MANAGEMENT PLAN
The project benefits management plan is the document that describes how and when the benefits of the
project will be delivered, and describes the mechanisms that should be in place to measure those benefits.
A project benefit is defined as an outcome of actions, behaviors, products, services, or results that
provide value to the sponsoring organization as well as to the project’s intended beneficiaries.
Development of the benefits management plan begins early in the project life cycle with the definition of
the target benefits to be realized. The benefits management plan describes key elements of the benefits and
may include but is not limited to documenting the following:
Target benefits (e.g., the expected tangible and intangible value to be gained by the
implementation of the project; financial value is expressed as net present value);
Strategic alignment (e.g., how well the project benefits align to the business strategies of the
Timeframe for realizing benefits (e.g., benefits by phase, short-term, long-term, and ongoing);
Benefits owner (e.g., the accountable person to monitor, record, and report realized benefits
throughout the timeframe established in the plan);
Metrics (e.g., the measures to be used to show benefits realized, direct measures, and indirect
Assumptions (e.g., factors expected to be in place or to be in evidence); and
Risks (e.g., risks for realization of benefits).
Developing the benefits management plan makes use of the data and information documented in the
business case and needs assessment. For example, the cost-benefit analyses recorded in the documents
Purchase answer to see full

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