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Guide to Manage Project Knowledge - PMBOK Seventh Edition

Importance:
The 'Manage Project Knowledge' process is vital in PMP as it supports project teams in managing and utilizing the project’s knowledge, experience, and information. It aids in ongoing learning, decision-making, and improvement on both current and future projects.

Concept:
'Manage Project Knowledge' is the process of creating, capturing, storing, and sharing knowledge to improve project processes and outcomes. It includes lessons learned, best practices, and other relevant knowledge.

How it works:
This process promotes knowledge sharing through activities like documentation, meetings, workshops, brainstorming sessions etc. Capturing the gained knowledge and storing in an organized, accessible method is a key part.

Exam Tips - Answering Questions on Manage Project Knowledge:
1. Understand how lessons learned and best practices contribute to project success.
2. Be familiar with how knowledge is captured, stored, and shared in a project.
3. Know the importance of a lessons learned register.
4. Remember that each project’s knowledge should be stored for future projects to use as reference.
5. Understand that managing project knowledge is not just about data collection, but also about using that data to improve project outcomes.
6. Know that managing project knowledge involves both explicit (documented) and tacit (experiential) knowledge.
7. Usually, the right answer includes a proactive approach to knowledge management.

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Manage Project Knowledge practice test

Manage Project Knowledge is a critical process in Integration Management that involves creating, capturing, sharing, and retaining relevant knowledge achieved throughout the project lifecycle. This process ensures that valuable experiences, lessons learned, and best practices are documented and made available to team members and other stakeholders, enabling them to benefit from past experiences and avoid making the same mistakes. It also helps to enhance the decision-making capability of the project manager and the project team by providing systematic access to relevant information and reducing the impact of knowledge loss due to staff attrition.

Time: 5 minutes   Questions: 5

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Project Management Professional Preparation Package (2024)

  • Earn 35 PDUs needed for your PMP certification
  • 12955 Superior-grade Project Management Professional practice questions.
  • Accelerated Mastery: Deep dive into critical topics to fast-track your mastery.
  • Unlock Effortless PMP preparation: 5 full exams.
  • 100% Satisfaction Guaranteed: Full refund with no questions if unsatisfied.
  • Bonus: If you upgrade now you get upgraded access to all courses
  • Risk-Free Decision: Start with a 7-day free trial - get premium features at no cost!