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Principles of Project Management

It is essential to understand the impact of PMBOK and project management lifecycle as these areas hold importance in timely completion and delivering timely completion of the project.

project management lifecycle ensures project endeavor that has a definite start time and finishes time. Project lifecycle phases are project initiation, project planning, project execution, monitoring, and project closing. PMBOK act as a standard of terminology and guidance for project management. (Project Management Institute, 2017). The alignment of the project lifecycle and PMBOK in the project is essential to ensure the success of the project and the aligning of project goals with outlined objectives. In my opinion, it is necessary to understand the concepts and adapting them to positive results.

These are the major areas impacted by the lifecycle -

• Scope of the project- The scope relates to the work of the project, ....