How the project management knowledge areas are important

According to the Project Management Institute (PMI®, www.pmi.org), approximately 66% of all projects fail to meet the approved schedule and are over budget. Considering this, write a short paper describing how the project management knowledge areas are important to successful project management. Include specific examples from your experience.

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Sample Answer

The Project Management Institute (PMI) is a global organization that provides project management education and certification. According to PMI, approximately 66% of all projects fail to meet the approved schedule and are over budget. This is a significant problem, as it can lead to financial losses, missed opportunities, and customer dissatisfaction.

There are a number of factors that contribute to project failure. These include:

  • Poor planning: Projects that are not properly planned are more likely to fail. This includes not having a clear scope of work, not identifying all of the risks, and not having a realistic schedule and budget.
  • Communication breakdowns: Communication is essential for successful project management. When there are communication breakdowns, it can lead to misunderstandings, delays, and errors.
  • Scope creep: Scope creep is the tendency for projects to grow in scope over time. This can lead to budget overruns and schedule delays.

Full Answer Section

  • Change management: Change is inevitable in projects. However, if change is not managed effectively, it can lead to project failure.

The project management knowledge areas are a set of nine knowledge areas that are essential for successful project management. These knowledge areas include:

  • Initiating: This knowledge area includes the activities that are required to start a project, such as defining the project scope, identifying the stakeholders, and developing the project charter.
  • Planning: This knowledge area includes the activities that are required to create a plan for the project, such as developing the project schedule, budget, and risk management plan.
  • Executing: This knowledge area includes the activities that are required to carry out the project plan, such as managing the project team, communicating with stakeholders, and resolving issues.
  • Monitoring and Controlling: This knowledge area includes the activities that are required to track the project’s progress and make sure that it is on track, such as collecting and analyzing data, identifying and addressing deviations, and making changes to the project plan as needed.
  • Closing: This knowledge area includes the activities that are required to complete the project, such as finalizing the project deliverables, closing out contracts, and documenting the project lessons learned.

The project management knowledge areas are important to successful project management because they provide a framework for planning, executing, monitoring, and controlling projects. By following the project management knowledge areas, project managers can increase the chances of their projects being successful.

In my experience, I have seen firsthand how the project management knowledge areas can be used to successfully manage projects. For example, I was recently involved in a project to develop a new software application. The project was complex and challenging, but by following the project management knowledge areas, we were able to successfully complete the project on time and within budget.

The project management knowledge areas are a valuable tool for project managers. By following these knowledge areas, project managers can increase the chances of their projects being successful.

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