A guide to the project management body of knowledge - fifth edition provides guidelines for managing individual projects and defines project management related concepts. It also describes the project management life cycle and its related processes, as well as the project life cycle.
The PMBOK guide contains the globally recognized standard and guide for the project management profession. A standard is a formal document that describes established norms, methods, processes, and practices. As with other professions, the knowledge contained in this standard has evolved from the recognized good practices of project management practitioners who have contributed to the development of this standard. This section defines several key terms and the relationship among portfolio managemnet, program management, project management and organizational project management.
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