What Is PMBOK in Project Management? Understanding PMBOK Methodology

What Is PMBOK in Project Management?

PMBOK stands for Project Management Body of Knowledge, and it is the entire collection of processes, best practices, terminologies, and guidelines that are accepted as standard within the project management industry. PMBOK is considered valuable for companies as it helps them standardize practices across various departments, tailor processes to suit specific needs, and prevent project failures. 

Because the body of knowledge is constantly growing as practitioners discover new methods or best practices, it must be regularly updated and disseminated. This is an effort that is overseen by the Project Management Institute (PMI), a global not-for-profit member association of project management professionals. You can find a more in-depth discussion on PMBOK in Wrike’s Project Management Guide.

What is the PMBOK methodology?

PMBOK is technically not a methodology but rather an industry framework that incorporates best practices in project management. It is often associated with the waterfall methodology, which aligns project stages in a sequential approach, but it is also compatible with newer methodologies such as Agile. The PMI does not advocate for any particular methodology as the processes of PMBOK can be tailored to suit a variety of project management situations — managers select what they need for their respective companies, teams, and projects.