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Updated: Jan 11

Based in Newtown Square, Pennsylvania, the Project Management Institute (PMI), operates as a nonprofit organization founded by employees of the aerospace industry in October 1969 to collaborate on challenges faced in managing large aerospace projects.

The objectives of the organization were formed in 1975 and were defined as follows:

PMI began standardizing the framework for managing projects in 1980.

PMI’s standards are recognized globally by approximately 2.9 million project management professionals, who depend on education provided by PMI. There is a fee to join PMI, membership benefits include professional development, networking opportunities, and other resources for helping the project management professional in managing projects.

PMI published The Project Management Body of Knowledge (PMBOK ((pronounced Pimbock)) in 1996. (Project Management Institute, Inc.)

The PMBOK provides a standard for managing projects and a study guide for those who plan to obtain a professional certification. The PMBOK provides the standard of what is a true project. A true project is one that is temporary and has a set start date as well as a date for completion. Project Management forty-seven (47) processes included in the five (5) process groups that are linked to ten (10) knowledge areas that require specific inputs in order to achieve the required output. The knowledge area contains:

  • Integration

  • Scope

  • Time

  • Cost

  • Quality

  • Human resources

  • Communication

  • Risk

  • Procurement

  • Stakeholder

The PMBOK provides details for the five process groups that are typical to all projects; in addition to a collection of

  1. Inputs

  2. Outputs

  3. Techniques

  4. Tools

  5. The body of knowledge areas for managing projects.

Reprinted from "A Guide to the Project Management Body of Knowledge (PMBOK Guide), 5th Edition" by Project Management Institute, 2013, p. 61. Copyright 2013 by Project Management Institute, Inc. Reprinted without permission

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