Final answer:
The correct term for the area of project management knowledge that refers to the domain or industry application is 'contextual.' It involves understanding industry-specific nuances and integrating this knowledge into project management practices.
Step-by-step explanation:
The contextual area of project management knowledge refers to the domain or industry to which project management is applied. This encompasses understanding the nuances and requirements specific to different domains such as construction, IT, healthcare, etc., and integrating this knowledge into project planning and execution. It's about having an awareness of the environmental factors that affect the project and shaping processes and practices to fit within these domains.
For example, in industrial psychology, which is focused on workplace behaviors, an understanding of the context is crucial in measures such as job satisfaction. Similarly, when examining data for trends, analytical intelligence is used most, which involves the ability to understand the context within which the data exists. Context can also refer to distinct domains of activity like residential or commercial segments within a certain industry.