Project management standards and methodologies
There are many different project management approaches, frameworks, and standards. The most well-known project management standard is published by the Project Management Institute (PMI) in the form of the Project Management Body of Knowledge (PMBOK)®. The most well-known project management methodology is PRINCE2.
Both the PMBOK Guide and the PRINCE2 manual (Managing Successful Projects Using PRINCE2) should be part of every project manager’s bookshelf.
Project Management Body of Knowledge (PMBOK® Guide)
PMI publishes the Project Management Body of Knowledge (The PMBOK® Guide) which is known as a standard for project management. The PMBOK® describes 12 project management principles serving as foundational guidelines for strategy, decision-making and problem solving on projects. They guide the behaviours of the people making decisions about projects.
There are also 8 project performance domains within the PMBOK® which form those critical for the delivery of project outcomes.
One aspect of the PMBOK® 7th edition is tailoring. Tailoring refers to how the project decision-makers adapt a project management approach to meet the needs of a project’s unique context.
PRINCE2 is the world’s best-known project management methodology. PRINCE2 also defines 7 principles which act as the foundations for the remainder of the methodology. In addition, PRINCE2 defines 7 practices which are similar concepts to the project performance domains within the PMBOK®. These are the business case, organizing, quality, plans, risk, issues, and progress.
PRINCE2 also defines 7 processes which are performed by the project management team throughout the project life cycle. The processes are where the team perform the principles and practices.
Whether a project manager uses the guidance given by the PMBOK® or by PRINCE2, they really follow the same path from the start to the end of the project.