PMBOK assumes that business case for the project, project approval and funding are handled outside of project boundaries.This is because need of the project are felt at program, portfolio or organizational levels.The underlying difference between the PMBOK and PRINCE 2 is that the PMBOK offers the project manager a considerable array of information about proven practises in this field and invites the project manager to apply these where they deem appropriate whereas PRINCE2 provides a more prescriptive (although flexible) set of steps for the project manager and teams to follow.
The PMI Guide to the PMBOK identifies and describes that subset of the entire PMBOK which is generally accepted as applicable to most projects most of the time.
The PMI Guide to the PMBOK is therefore an extremely useful reference document and is often the basis of generic project management training.
Cheers, Shiv It is quite likely that you are already familiar with PMBOK®.
But if you happen to be just looking out to find out about PMP®/CAPM® examination, or basics of project management, then this lesson might be of help.
A Guide to the Project Management Body of Knowledge – Fifth Edition should be used as a study reference if taking the PMP® exam after 31 July 2013 and the CAPM® exam after 1 July 2013.” In a nutshell, PMBOK® describes the fundamentals of project management in terms of processes.
Each project management activity is accomplished as a process. A set of tools and techniques are then applied on these inputs. These outputs may further become inputs to some other processes.
For the very first time, a project manager is assigned to the project and is authorized to take decisions and manage the project.
A project requries a strong business case, one that clearly shows the need for the project.
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Please feel free to drop me a mail at shiv(at)pmexamsmartnotes(dot)com for anything you need for PMP preparation.
These Components have similarity to the PMBOK Knowledge Areas.