ABSTRACT
In order to truly understand how Lean concepts and agile techniques (Lean and agile) can be applied to project management, it is important to understand the accepted basics of project management. Most PMs are surprised to learn that there are three primary recognized bodies of knowledge for project management: PMBOK®, PRINCE2®, and ISO 21500. The Project Management Body of Knowledge (PMBOK) is a US-based program supported by the Project Management Institute (PMI). It provides a set of standard terminology and guidelines. Projects in Controlled Environments, version 2 (PRINCE2) is a program that began as a joint venture between the UK government and a private company, Capita. ISO 21500:2012, Guidance on Project Management is an international standard developed by the International Organization for Standardization (ISO). One commonality in all three primary bodies is the concept of a project life cycle (PLC). The PLC refers to a series of activities that are necessary to fulfill project goals or objectives.
