Project Management Principle is a term that is used to define the set of practices and techniques used for project-based work. These principles are essential for the successful execution of a project, as they provide direction and guidance on how to effectively plan, manage, and deliver a successful project. The Project Management Body of Knowledge (PMBOK) is the official definition of the principles of project management. The PMBOK outlines five key project management processes: initiating, planning, executing, monitoring and controlling, and closing. These processes are the fundamental building blocks for successful project management and provide the framework for planning, organizing, and managing all aspects of a project.
In addition to the five project management processes, the PMBOK also outlines nine knowledge areas, which are the fundamental elements of a project. These areas include project integration management, project scope management, project time management and project cost management.