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Chapter 1 The PMBOK? Guide provides guidelines for managing individual projects within an organization. It defines project management and related concepts, describes the project management life cycle, and outlines related processes. This chapter defines several key terms and provides an overview of the PMBOK? Guide in the following major sections: 1.1 Project Management Standard Purpose 1.2 What is a Project? 1.3 What is Project Management? 1.4 Relationship Between Project Management, Program Management, and Portfolio Management 1.5 Project Management in Operations Management 1.6 Role of the Project Manager 1.7 Project Management Body of Knowledge 1.8 Enterprise Environmental Factors 1.1 Project Management Standard Purpose The increasing success of project management indicates that the application of appropriate knowledge, processes, skills, tools, and techniques can have an impact on the success of projects. To provide readers with a general overview of the project management discipline, the PMBOK? Guide identifies that subset of the Project Management Body of Knowledge generally recognized as good practice. “Generally recognized” means the knowledge and practices described are applicable to most projects most of the time, and there is consensus about their value and usefulness. “Good practice” means there is general agreement that the application of these skills, tools, and techniques can enhance the chances of success over a wide range of projects. Good practice does not mean the knowledge described should always be applied uniformly to all projects; the organization and/or project management team is responsible for determining what is appropriate for any given project. This method that allows the standards to work for most projects most of the time is called “project tailoring.” The project manager, with approval from the project sponsor, will typically use a certain level of rigor based on the type of project. It is important that agreed-upon tai