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ISBN. 978-1-62825-664-2. The Project Management Body of Knowledge ( PMBOK) is a set of standard terminology and guidelines (a body of knowledge) for project management. The body of knowledge evolves over time and is presented in A Guide to the Project Management Body of Knowledge ( PMBOK Guide ), a book whose seventh edition was released in 2021.
A Guide to the Project Management Body of Knowledge (PMBOK Guide) – Seventh Edition (2021). Recognized by the American National Standards Institute (ANSI) as American National Standard ANSI/PMI 99-001-2021. The Standard for Program Management—Fourth Edition (2017). Recognized by ANSI as American National Standard ANSI/PMI 08-002-2017.
According to the PMBOK (7th edition) by the Project Management Institute (PMI), Earned Value (EV) is defined as the "measure of work performed expressed in terms of the budget authorized for that work." BCWP is a term in Earned value management approach to Project management.
According to the PMBOK (7th edition) by the Project Management Institute (PMI), Fixed Price Economic Price Adjustment Contract (FPEPA) is a "fixed-price contract, but with a special provision allowing for predefined final adjustments to the contract price due to changed conditions, such as inflation changes, or cost increases (or decrease) for ...
According to the PMBOK (7th edition) by the Project Management Institute (PMI), Cost variance (CV) is a "The amount of budget deficit or surplus at a given point in time, expressed as the difference between the earned value and the actual cost." Cost variance compares the estimated cost of a deliverable with the actual cost.
Project Management Professional. Project Management Professional ( PMP) is an internationally recognized professional designation offered by the Project Management Institute (PMI). [1] As of 31 July 2020, there are 1,036,368 active PMP-certified individuals and 314 chartered chapters across 214 countries and territories worldwide.
According to the PMBOK (7th edition) by the Project Management Institute (PMI), CPIF is a "type of cost-reimbursable contract where the buyer reimburses the seller for the seller's allowable cost (allowable costs are defined by the contract), and the seller earns its profit if it meets defined performance criteria".
According to the PMBOK (7th edition) by the Project Management Institute (PMI), cycle time is the "total elapsed time from the start of a particular activity or work item to its completion." [3] In contrast to lead time , which measures the time that the customer waits for their request to be realized, cycle time only counts the time the team ...
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