Subtitles of the Movie

To date, we've gone through a brief review of the project life cycle, project phases, and the process groups. In this movie, we'll move on to review the knowledge areas. There are a total of nine knowledge areas. Each knowledge area contains a set of related processes, for example, cost contains the processes concerned with completing the project within budget, and risk contains processes addressing the project risk. It's a way of grouping the forty-four processes in a logical way. Let's take a look at these nine knowledge areas. The first is integration, which coordinates all aspects of the project management plan. In order to accomplish the project objectives, there are a total of seven processes in this knowledge area, they are develop project charter, develop preliminary project scope statement, develop project management plan, direct and manage execution, monitor and control project work, integrate and change control, and close project. The commonality that brings these processes together is their aim to identify, define, combine, unify, and coordinate the project management activities. Next, we have scope, which manages the project scope by defining and controlling what is and isn't included in the project. There are five processes within this knowledge area, scope planning, scope definition, create WBS, scope verification, and scope control. These processes keep the project scope on track. The time knowledge area focuses on completing the project on time by developing the project schedule and monitoring deviations from that schedule. It contains six processes, activity definition, activity sequencing, activity resource estimating, activity duration estimating, schedule development, and schedule control. The commonality here jumps right out at you, just as does in our next knowledge area which is cost. Cost focuses on completing the project within budget and contains only three processes, cost estimating, cost budgeting, and cost control. Next is quality, which ensures that the project satisfies the needs for which it was undertaken. Quality also just has three processes, quality panning, perform quality assurance, and perform quality control. These processes determine and implement the quality policies, objectives and responsibilities. The human resource knowledge area organizes, develops, and manages the project team. It contains four processes, human resource planning, acquire project team, develop project team, and manage the project team. Communications connects people and information to result in successful communications within the project. It contains four processes, communications planning, information distribution, performance reporting, and manage stake holders. These four processes work together to generate, to collect, distribute, store, retrieve, and manage the project information. The eight knowledge area is risk which focuses on increasing the probability and impact of positive events and decreases the probability and impact of adverse events. There are a total of six processes, risk management planning, risk identification, qualitative risk analysis, quantitative risk analysis, risk response planning, and risk monitoring and controlling. Our final knowledge area is procurement which manages the purchasing activites of the project and life cycles of the procurement contracts. This knowledge area also has six processes, plan purchases and acquisitions, plan contracting, request seller responses, select sellers, contract administration, and contract closure. These processes are concerned with purchasing or acquiring products, services, or results from outside of the project team. I've mentioned the PMBOK course series a few times already, Part 2, 3, and 4 are divided by knowledge area. For example, Part 2 covered integration, scope, and time. Part 3, which is this course, will cover cost, quality, and human resource, and Part 4 will complete the review by covering communications, risk, and procurement. By the way, Part 1 set the foundation for the entire course series. It provides a high level review of the entire PMBOK Guide. And that concludes our snapshot review of the nine knowledge areas. Now that we've gone through a refresher, we're ready to dive into our first knowledge area of this course, which is cost.