Nine PMI Standards

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Lets' take a closer look at information from various sources, which you can draw on for your final response:

RESPONSE:

There is a general consensus about the important of managing knowledge, given the importance of knowledge as a basis of competition and operational effectiveness (http://www.providersedge.com/docs/km_articles/What_is_a_KM_Project.pdf). And, given this recognized importance, the Body of Knowledge (PMBOK Guide) was introduced to the management world, which is an effective project management guide, which is an internationally recognized standard, that provides the fundamentals of project management as they apply to a wide range of projects, including software, automotive, construction and others. (http://standards.ieee.org/reading/ieee/std_public/description/se/1490-2003_desc.html). Therefore, PMI standards are often adopted in organizing and managing its projects.

Project management is "the application of knowledge, skills, tools, and techniques to project activities to meet project requirements" (http://www.tutorialspoint.com/pmp-exams/project_management_processes.htm). Information and knowledge are not the same. Whereas information is defined as a flow of messages, knowledge is the combining of information and context in a way that makes it actionable. Therefore, knowledge management has several characteristics that differentiate them from traditional information management or information systems projects. In one study, for example, of companies who apply the nine PMY standards and the five group processes, the authors found some common characteristics of knowledge management projects: Goals emphasize value-added for users , support operational improvement and innovation , adds value to content by filtering, synthesizing, interpreting, pruning content, usually requires ongoing user contributions and feedback and balanced focus on technology and culture issues in creating impacts (http://www.providersedge.com/docs/km_articles/What_is_a_KM_Project.pdf).

The PMBOK Guide identified certain characteristics that are typical of almost all projects-44 processes that fall into five basic process groups and nine knowledge areas. Specifically, the nine knowledge areas include the following: Project Integration Management, Project Scope Management, Project Time Management, ...