PMP Exam Cram™ 2

Socioeconomic and Environmental Influences

As the world becomes more global, international, and complex in its economic perspective, a multitude of factors can influence a project. These include government regulations and industry standards, which are viewed as ways to safeguard society from inappropriate business practices. Many of these are a result of unprofessional situations that have been identified after they have occurred—for example, the Enron and WorldCom stock market problems, where investors were defrauded of millions of dollars. The PMBOK defines these attributes as follows:

• Standard— A standard is “a document approved by a recognized body that provides for common and repeated use, rules, guidelines, or characteristics for products, ...