▁product , ▁service , ▁or ▁result . ▁ ▁Project ▁account ing ▁Is ▁the ▁practice ▁of ▁creating ▁financial ▁reports ▁specifically ▁designed ▁to ▁track ▁the ▁financial ▁progress ▁of ▁projects , ▁which ▁can ▁then ▁be ▁used ▁by ▁man agers ▁to ▁aid ▁project ▁management . ▁ ▁Project ▁char ter ▁is ▁a ▁statement ▁of ▁the ▁scope , ▁object ives , ▁and ▁participants ▁in ▁a ▁project . ▁ ▁Project ▁Cost ▁Management ▁A ▁method ▁of ▁man aging ▁a ▁project ▁in ▁real - time ▁from ▁the ▁estim ating ▁stage ▁to ▁project ▁control ; ▁through ▁the ▁use ▁of ▁technology ▁cost , ▁schedule ▁and ▁product ivity ▁is ▁monitor ed . ▁ ▁Project ▁management ▁: ▁The ▁complete ▁set ▁of ▁tasks , ▁techniques , ▁tools ▁applied ▁during ▁project ▁execution '. ▁ ▁Project ▁Management ▁Body ▁of ▁Know ledge ▁( PM BO K ) ▁: ▁The ▁sum ▁of ▁knowledge ▁within ▁the ▁profession ▁of ▁project ▁management ▁that ▁is ▁standard ized ▁by ▁ISO . ▁ ▁Project ▁management ▁office : ▁The ▁Project ▁management ▁office ▁in ▁a ▁business ▁or ▁professional ▁enter prise ▁is ▁the ▁department ▁or ▁group ▁that ▁defines ▁and ▁maintain s ▁the ▁standards ▁of ▁process , ▁generally ▁related ▁to ▁project ▁management , ▁within ▁the ▁organization . ▁The ▁P MO ▁st riv es ▁to ▁standard ize ▁and ▁introduce ▁econom ies ▁of ▁repet ition ▁in ▁the ▁execution ▁of ▁projects . ▁The ▁P MO ▁is ▁the ▁source ▁of ▁documentation , ▁guidance ▁and ▁metrics ▁on ▁the ▁practice ▁of ▁project ▁management ▁and ▁execution . ▁ ▁Project ▁management ▁process ▁is ▁the ▁management ▁process ▁of ▁planning ▁and ▁cont rolling ▁the ▁performance ▁or ▁execution ▁of ▁a ▁project .