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I have a question regarding PMP implementation in our projects. Should we apply all methodology/approaches mentioned in PMBOK/study guide in our projects?

In my career I have seen estimation is not done properly in so many projects and if done, its not accurately done.

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Don't throw every technique in the PMBOK at a project just because they're available. Part of the skill is knowing what tools and techniques you should use for which situations.

From the pocket edition:

"What is it not? it is definitely not a 'project management recipe book'. the project manager and the team remain ultimately responsible for deciding what good practices shall be applied to the specific project at hand"

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Couple of things -

    • there's no such thing as a "PMP implementation". The PMP is a credential/certification, not a method.
    • the actual name is A Guide to the Project Management Body of Knowledge. This title was chosen because it was understood that no book could include the entirety of project management, so the goal was to create a guide to the most common/good practices found. But as David pointed out, it's a Body of Knowledge, not a methodology.
    • the first page of the first chapter states "Good practice does not mean that the knowledge described should always applied uniformly on all projects; the project team is responsible for determining what its appropriate for any given project."

Last - regarding estimating - if it's done poorly, throwing more methods at it will only make it worse. You need to step back and figure out WHY the estimates are poor, and then correct that. Inexperienced estimators, no historical data, optimistic estimates, etc. There are any number of potential causes. You need to identify what's at issue for your particular situation, and then address that. Like anything else, estimating is a skill. You get better at it with time and experience.

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The PMBoK defines no methods or approaches. It is a body of knowledge. It is not meant, nor should you use it, as a method. The PMBoK, and other sources, can serve to inform your method, i.e., use components of it to develop your methods. So the answer to your question has to be "no" since it does not fit.

And to answer the intent of your question, the answer is also a no. Even if you had a well thought out method, you would never deploy it without some tailoring to fit the project at hand, in that environment, at that time. A non tailored deployment is evidence of a marginally capable PM and would threaten success. As a side benefit, the tailoring you do would serve as your method evolution, too, meaning the process of tailoring may cause a change that gets adopted as method.

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