The Standard of Project Management and PMBOK 7

The Standard of Project Management and PMBOK 7 (“The dawn of a new era!) (Download)

The Seventh Edition is a whole new beast. We are really focusing not so much on the outputs like we have seen before. We are focusing more on the outcomes. By Cyndi Dionisio, member of PMBOK 7 team

PMI published the exposure draft for the new Standard for Project Management on 15 January 2020 for one month to be reviewed. The Standard for Project Management is part 2 of the PMBOK. The current standard of project management with PMBOK 6 covers 5 project management process groups i.e Initiating, Planning, Executing, Monitoring and Controlling, Closing.

PMBOK 7th edition is expected to be released in Q4 of 2020!

In PMBOK 7th edition, project management standards are primarily based on principles instead of processes, a paradigm shift from a process-based approach. The current knowledge areas comprising techniques, tools, inputs, and outputs are not included in the recent edition. The book focuses on the principles that are typically accepted and practised in project management. The transforming project dynamics emphasize on ultimate outcomes rather than deliverables. It is quite evident that this diverse field comes with great uniqueness which keeps on focusing on evolving aspects.

Why is PMBOK® Changing?

Until now, PMBOK predominantly highlighted the waterfall project management techniques. With the transforming technology, competition is getting tough than ever before. Product life cycles are relatively short while the requirements keep on changing over time with the ongoing progress of the project. Considering the conventional project management strategies, it is unlikely to welcome quickly modifying project requirements.

Subsequently, agile project management techniques and approaches have emerged in the 2000s. The agile guidelines were highly adaptable in project management more specifically to the IT and software industry. The major change in the PMBOK 7th edition is the dramatic shift from process-based project management to principle-based project delivery. Therefore, it supports every type of project delivery. Another noticeable change is the shift in scope that addresses project delivery apart from the project management. This approach is more practitioner-friendly or action-focused.

Let’s go through the two fundamental aspects influencing modifications in PMBOK 7th edition.

Value Delivery System

Value Delivery System is an all-inclusive approach through which projects accomplish business value. Corporate value is typically associated with tangible and intangible advantages received by users, employees and other business professionals. Projects are considered the key vehicle that delivers business value by reaching corporate objectives. The 7th Edition put forth an effective strategy for intended business value. This is primarily achieved by defining corporate strategies and identify objectives that later turn into practical initiatives. The Organization system, strategies, missions or objectives decides the next portfolios or investments

These enterprises produce deliverables improving competencies of the organization and offering tangible and intangible outcomes. Eventually, these benefits are transformed into business value. The system allows the smooth flow to the value delivery system in the organization. This is particularly important by effectively propagating information and feedback through the predefined channels. The value delivery mechanism mainly comprises of programs, operations, and portfolios to allow workflow and support decision-making.

Project Delivery Principles 

This defines the “What” and “Why” of project management that focuses on the thought process and behavior of people involved in project delivery. If you are still unsure about the delivery and outcome, the latest PMBOK is expanding. Take a look at the 12 principles defined in the Standard for Project Management.

1. Be hard-working and respectful
2. Create a culture of responsibility
3. Actively engage stakeholders to comprehensively understand the interests and requirements
4. Emphasize on value
5. Acknowledge team interactions and respond accordingly
6. Encourage, influence, teach and learn
7. Customize the delivery strategy
8. Ensure quality into procedures and outcomes
9. Take notice of complications involved in knowledge and experience
10. Report prospects and threats
11. Be flexible
12. Allow change to accomplish the predicted future state

You might be aware of the idea that the new syllabus introduced in the year 2019 focused on Agile and Hybrid project management strategy. These approaches have made their way to mainstream content along with the predictive delivery methodology. Above we have discussed the fundamental changes influencing PMBOK.

PMI declared the PMBOK® 7th Edition exposure draft in January 2020 for the evaluation of the project management community. If you are looking forward to PMP certification, PMBOK is the most important resource to get yourself fully prepared for the PMP exam. Most PMP training providers comprehensively prepare PMP study materials and resources centered on the content of PMBOK. For that reason, PMBOK 7th edition will thoroughly guide you for PMP and CAPM certification. The training providers will update the materials based on these modifications.

When PMBOK 7th Edition Will Be Published?

The recent PMBOK 7th Edition is planned for issue in Q4 2020.

For the latest PMBOK 7th edition, knowledge areas will be no longer a part of it. The publication will primarily about performance domains. You will come across the advanced digital platform – Standards Plus associated with PMBOK. The recent edition will highlight the emerging and upcoming project delivery practices that can be used by project practitioners.

PMP exam and PMBOK

It is important to note that PMP exam is for the Profession of Project Management and PMBOK Guide doesn’t serve as the syllabus of the PMP Exam. To be able to attempt the PMP Exam successfully you should begin the process from Exam content Outline 2019.

PMBOK Versions

1. PMBOK 1 – 1996 – ( 9 KA, 37 Processes)
2. PMBOK 2 – 2000 – ( 9 KA, 39 Processes)
3. PMBOK 3 – 2005  – ( 9 KA, 44 Processes)
4. PMBOK 4- 2008 – ( 9 KA, 42 Processes)
5. PMBOK 5- 2013 – ( 10 KA, 47 Processes)
6. PMBOK 6- 2017 – (49 Processes, 10 KA and 5 Process Groups)
7. PMBOK 7 – Q4 2020 (12 Principles and 8 performance Domains)

All editions of the PMBOK Guide till version 6 have been process-based, meaning that the primary, fundamental building blocks were processes, with their inputs and outputs connecting them and creating an integrated network that can be effective in projects. Process-based perspective is limited to what is considered in the standard. This does not mean that process-based approaches are not relevant or useful anymore. Many organizations and project management practitioners continue to use conventional project management delivery methods. Conventional approaches remain relevant in the context of PMBOK 7th Edition as well.

The standard of Project Management: PMBOK 6 vs PMBOK 7

The Guide: PMBOK 6 vs PMBOK 7

Project Delivery Principles and PMBOK 7 References

References

1. PMI.org
2. #PMPExamChallenge