In nearly all phases of life, and regardless of what task or activity that particular life phase may entail, it is a well known fact that the most effective way of assuring that the individual or group is as well prepared as it can be is to practice. Practicing essentially referring to the act of simulating the actual task or endeavor that is anticipated to be undertaken in hopes of refining, enhancing, or improving the performance of the individual or group when and if the opportunity for that individual or group to participate in a real instance of that task. In terms of project management, the definition is entirely similar. In project management, practice refers specifically to a scenario in which the project management team and or the project management team leader employs the participation in a specific type of professional or management type activity for purposes of improving execution of a process and that may use employment of one or more management tools of techniques.
This term is defined in the 3rd and the 4th edition of the PMBOK.