As we well know, the process management of a company represents a constant challenge, whose proper management demands the best methods and practices available, such as the PMBOK.
Faced with the high competitiveness of the market, the constant changes in the work dynamics of the corporate world and the high level of demand from the public, the planning and control of the company's processes must always be one step ahead, as any oversight can lead to enormous consequences. losses.
In this sense, we can point to PMBOK as an essential tool for structuring projects, defining business strategies and standardizing procedures, making it an essential item for any and all managers.
That's why we produced this article, explaining everything about what PMBOK is, its goals and benefits. Continue reading to find out more!
What is PMBOK?
PMBOK is the acronym for Project Management Body of Knowledge, that is, a management tool standardized projects. In other words, we are talking about a complete guide compiling the main practices, guidelines, terminologies and methods relevant to the management sector.
Its history begins in 1969, with the founding of the PMI (Project Management Institute) – an institution initially conceived as a forum for studies and debates for the development of the project management area.
From its foundation, PMI launches, in 1984, the PMP (Project Management Professional, a kind of embryo of the PMBOK). From then on, the idea developed and took shape over the years, until, in 1996, the first PMBOK guide was finally published.
It is important to note that the end of the 90s was a period marked by the introduction of technology into the corporate environment – it was, in fact, the beginning of a series of transformations that pointed to the trends we observe today.
This phenomenon created an urgent need for restructuring in several sectors of companies – and, in this sense, the project management sector was probably the most important.
Since then, several updates of the PMBOK guide have been published – which could not be different, since the market is in constant transformation, and the evolution of the management sector follows this process of constant mutation.
A SMEs, today a non-profit, global association, continues to be largely responsible for updating the PMBOK, allowing the incorporation of new knowledge, practices and methods to the projects of the most varied companies around the world.
It is worth mentioning that, although the PMBOK is very commonly confused with methodologies such as waterfall and agile (and this is no coincidence, since we are talking about closely related concepts), it would not be correct to describe it that way, but rather as a solid structure to guide the management process, from which several different methodologies can be applied.
Precisely for this reason, we can consider the PMBOK as the most solid base of methodologies, since the processes and guidelines described therein are extremely flexible, being able to be adapted to all types of companies, situations and specific contexts – it is not necessary that the manager follows a single plan to the letter, regardless of the developments that arise.
The objectives of the PMBOK
Indeed, we can define that the main objective of the PMBOK is to function as an instruction book for efficient project management.
Concentrating the most diverse and solid standards, it allows the manager to fully understand and control the life cycle of a project, enabling the adoption of correct practices for an optimized conduction capable of generating the best results through the generation of knowledge and the innovation in processes.
The importance of PMBOK in project management
The importance of PMBOK in project management is directly linked to security in control, monitoring and analysis. This happens precisely through the standardization of processes, regardless of sectors - that is, each department of the company uses the same approach as the others, which provides an integrated and solid performance within the organization
Therefore, it is safe to say that the PMBOK universalizes the management approach, optimizing the learning curve that new projects need and enhancing the power of predictability and the anticipation of changes and setbacks.
The Five Steps of PMBOK
PMBOK understands that the knowledge management, tools and processes of a business takes place in five main phases that we describe below.
1. Initiation
The first stage is where the manager will need to take a general look at what will be done: risk analysis, definition of objectives and identification of project needs are some of the points to be highlighted here.
This is a vital phase for defining and aligning the expectations of everyone involved – both professionals, the public and possible investors or sponsors. Next, the Project Opening Term is drawn up.
2. Planning
The second step is also the most important: it's time to put everything on paper, defining the project's scope, schedule, budget and activities. Here, the resources and plans for communication, management and control are defined – and the PMBOK specifies 10 essential items to consider during this phase:
- integration;
- scope;
- timeline;
- costs;
- quality;
- resources;
- Communication;
- scratchs;
- acquisitions;
- interested parts.
Therefore, it is correct to say that the planning stage is the moment in which the scope and schedule of activities must be defined; establish the resources and where they go; establish communication and quality standards in activities; calculate costs and risks; and develop a solid management plan.
3. Execution
At this stage, it is necessary to put into practice everything that was previously planned. Here, dialogue and constant contact with the team are fundamental, since there may be different developments along the way – and one must always be prepared.
4. Monitoring and control
Parallel to the execution, constant monitoring is needed to avoid any management problems – do not neglect what is being carried out by the team, as control and monitoring are extremely necessary to ensure the smooth running of the proposed activities.
This is the moment to evaluate the project's indicators, if the workflow is aligned with the goals and if the risks are under control.
5. Closing
The process ends with a formal delivery of the project result to the client. Take the opportunity to collect all possible feedback and generate a final report with important general information for the team.
After all, project management is a continuous process, in which the end of a cycle marks the beginning of a new one – therefore, it is necessary for the entire team to remain constantly updated, so that the knowledge generated at the end of one project can be applied to the next ones.
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The benefits of PMBOK for business project management
We can observe several benefits promoted by PMBOK in a company, such as:
- standardization of the management process;
- optimization of communication;
- reduction of negligence of activities;
- better use of resources;
- high level of monitoring;
- risk treatment;
- potentialization of successful results.
That said, we emphasize that all the factors mentioned above favor more significant improvements in several more complex aspects. See below for some examples.
scope control
The scope is a kind of planning, in which the concept, objectives, stages and responsibilities of a project are defined. Following the PMBOK, the scope gains more effectiveness and functionality, favoring project management and control.
Management support
The PMBOK helps in directing management, favoring the proper use of resources and improving the planning and execution of project activities, in addition to facilitating the delegation of functions and the monitoring of processes.
Increased predictability
The PMBOK works like a management map – with it, it is possible to visualize what happens and, thus, make decisions in advance, reducing risks and enabling an intelligent and economically favorable performance.
more productivity
Once the generation of results is enhanced, the PMBOK becomes an essential tool for increasing productivity. This is because it is able to reduce the incidence of errors and rework, in addition to favoring team integration and their levels of motivation.
Delivery at the right time
Planning is essential for the good fulfillment of the schedule. In this sense, the PMBOK represents a powerful factor in enhancing the ability to deliver within the established deadlines, as it acts directly on planning, communication and time management.
Increased customer satisfaction
The use of PMBOK is also beneficial for customers, after all, with the improvement in project performance, the public's perception of the brand is positively reinforced, and the company gains credibility with regard to meeting consumer expectations.
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