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1 - INTRODUCTION

1
Portfolio
• Strategies and priorities • Strategies and priorities
• Progressive elaboration • Progressive elaboration
• Governance • Governance
• Disposition on requested changes • Disposition on requested changes
• Impacts from changes in other • Impacts from changes in other
portfolios, programs, or projects portfolios, programs, or projects
Subportfolios Projects
• Performance reports
• Performance reports • Change requests with
• Change requests with impact on other portfolios,
impact on other portfolios, programs, or projects
programs, or projects
• Strategies and priorities
Projects • Progressive elaboration
Programs • Governance
• Disposition on requested changes
• Impacts from changes in other
portfolios, programs, or projects Programs
• Performance reports
• Change requests with
impact on other portfolios,
Subprograms programs, or projects
Projects
Subprograms
Projects

Projects
Projects

Figure 1-1. Portfolio, Program, and Project Management Interactions

1.3 What is Project Management?

Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the
project requirements. Project management is accomplished through the appropriate application and integration of
the 47 logically grouped project management processes, which are categorized into five Process Groups. These five
Process Groups are:

• Initiating,
• Planning,

• Executing,
• Monitoring and Controlling, and
• Closing.

®
©2013 Project Management Institute. A Guide to the Project Management Body of Knowledge (PMBOK Guide) – Fifth Edition 5

Licensed To: Jorge Diego Fuentes Sanchez PMI MemberID: 2399412
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