ABSTRACT
The Project Management Body of Knowledge is a US-based program supported by the Project Management Institute. It provides a set of standard terminology and guidelines. In order to truly understand how Lean concepts and Agile techniques can be applied to project management, it is important to understand the accepted basics of project management. To summarize the steps or phases in the cycle, the term initiation refers to selecting the goal. Planning the project involves estimating resources and time, identifying the order of tasks, determining the execution schedule, and performing a risk assessment. A key performance indicator (KPI) is a business metric used to evaluate factors that are crucial to the success of an organization and can vary from organization to organization. Strongly promoted KPIs can be extremely powerful drivers of behavior and may be addressed in this phase of the cycle.
