Capital Project Management, Volume I

CHAPTER 5

Principles of Project Management

Introduction

One of the unsung advantages of any standard technology is how much innovation it stimulates, that is, innovation that complies with the standard. As discussions about dominant designs pointed out, once one appears, innovation that does not comply with the standard tends to drop precipitously. Not until a radically different idea comes along, does the standard become replaced or, at least, radically revised. This is true about just about any kind of standard.

The closest thing to a standard approach to project management is that of the Project Management Institute (PMI) in the United States. It publishes and periodically revises A Guide to the Project Management Body of Knowledge, or PMBOK, ...