The Project Management Body of Knowledge (PMBOK) is a detailed guide for project management pros1. The 7th edition of the PMBOK Guide, by the Project Management Institute (PMI), marks a big change from the 6th edition1. It now focuses on delivering value, using a principles-based method, and tailoring management to today’s fast-paced business world2.
Key Takeaways
- The PMBOK 7th Edition is set to launch on August 1, 2021, representing a major update from the previous 6th Edition1.
- The new edition focuses on value delivery, a principles-based approach, and tailored project management practices2.
- PMBOK 7 introduces 8 Project Performance Domains, replacing the previous 10 Knowledge Areas3.
- The PMBOK standards offer guidance based on consensus, openness, and due process1.
- PMBOK 7 places a focus on inclusive content, practitioner flexibility, and adaptability to different methodologies1.
Introduction to the PMBOK Guide
The Project Management Body of Knowledge (PMBOK) is a key standard in the project management world. It offers a detailed framework of best practices and terms4. Companies find it valuable for standardizing processes and tailoring procedures to fit their needs. It helps avoid project failures.
The PMBOK is often linked with the waterfall method. Yet, it works well with newer methods like Agile too. This is because PMBOK processes can be adjusted for different project management styles4.
What is PMBOK in Project Management?
The PMBOK comes from the Project Management Institute (PMI), founded in 1969. It was created to share knowledge and discuss project management5. The PMI introduced the PMP certification in 1984, and the first PMBOK Guide draft came out in 19945.
Since then, the PMBOK Guide has seen many updates. The latest, the 7th edition, is set to be released in August 20215.
The History of PMBOK
The 6th edition of the PMBOK Guide had 700 pages. The 7th edition will have just 250 pages, showing a big size reduction5. The new edition will focus on project outcomes, not just deliverables5.
The 7th edition will introduce 12 Project Management Principles. These will cover important areas like Team, Stakeholders, and Value5.
The new edition will have 8 Project performance domains instead of the old knowledge areas and process groups5. It will also include a wider range of tools, like situational leadership and data analysis5.
The PMI has set August 1, 2021, as the official release date for the PMBOK 7th edition5. The PMP exam, launched on January 2, 2021, will still use the 6th edition of the PMBOK5. The CAPM exam will also stick to the 6th edition, as stated in the Exam Content Outline54.
What is the Key Focus of the PMBOK 7th Edition?
The PMBOK 7th Edition focuses on delivering value to the organization and its stakeholders. It uses a principles-based approach to project management6. This edition moves away from the old process focus. It now emphasizes tailoring project management to fit the project’s specific needs7.
The PMBOK 7th Edition has 12 foundational project management principles to guide project professionals and stakeholders8. It introduces 8 project performance domains to cover all aspects of project execution. This change marks a significant shift from focusing on technical processes to focusing on principles for better outcomes7.
The PMBOK 7th Edition’s Value Delivery System highlights the importance of communication and information flows. It aims to maximize the value in project work7. It also focuses on stakeholder engagement, teamwork, value delivery, systems thinking, leadership, risk management, adaptability, quality, complexity management, and change facilitation for successful project outcomes8.
The PMBOK 7th Edition marks a big change in project management. It moves from focusing on technical processes to a more principles-based, value-driven, and tailored approach to project delivery7.
“The changes in the PMBOK® Guide 7th Edition encompass performance domains, tailoring, and models, impacting the representation of the project management discipline.”
PMBOK Content Shift
The PMBOK 6th Edition had 10 knowledge areas for project management. These included Integration, Scope, Schedule, Cost, Quality, Resource, Communications, Risk, Procurement, and Stakeholder1. Each area had its own processes, inputs, tools, techniques, and outputs. This made a detailed framework for managing projects1.
PMBOK 7 Performance Domains
The PMBOK 7th Edition changed to eight performance domains. These are Stakeholders, Team, Development Approach and Life Cycle, Planning, Project Work, Delivery, Measurement, and Uncertainty1. This new focus is on the whole project, not just parts. It’s about delivering value, not just following rules1.
| PMBOK 6 Knowledge Areas | PMBOK 7 Performance Domains |
|---|---|
| Integration, Scope, Schedule, Cost, Quality, Resource, Communications, Risk, Procurement, Stakeholder | Stakeholders, Team, Development Approach and Life Cycle, Planning, Project Work, Delivery, Measurement, Uncertainty |
The PMBOK 7th Edition is a big change from the old process-based standard. It now focuses on principles, marking a new era in project management1. This edition also gives clear advice on tailoring management for different situations. It’s designed to be more flexible and adaptable1.
“The PMBOK 7th Edition presents a more holistic and value-driven approach to project management, focusing on the interdependencies between different aspects of the project lifecycle.”
PMBOK 7 Tailoring
The PMBOK 7th Edition introduces a new framework called “Tailoring.” It encourages project managers to adapt the project management approach, processes, and governance. This is to meet the specific needs of the project, organization, and stakeholders9. Tailoring means understanding the project context, goals, and environment. Then, it involves selecting and customizing the right development and delivery approach9.
The PMBOK 6th Edition focused on tailoring the project management approach. But the 7th Edition goes further by dedicating a whole section to it9. This shows how complex our changing world is, especially with the VUCA (Volatile, Uncertain, Complex, and Ambiguous) environment9.
Tailoring in project management means adapting the approach, governance, and processes to fit the project context9. It makes sure the project outcome methods and tools meet the unique needs of the project, organization, and stakeholders9. This process is ongoing and happens throughout the project lifecycle9.
To help project managers tailor, the PMBOK 7th Edition offers a lot. It includes10 2442 top-quality Project Management Professional (PMBOK 7) practice questions10. There are also 5 full exams and a special test on “What to Tailor: Processes.”10 Plus, a 7-day free trial is available for the premium features10.
“Tailoring the project approach is a critical aspect of the PMBOK 7th Edition. It ensures the project management methodology fits the unique project context and stakeholder needs.”
PMBOK 7 Models, Methods, and Artifacts
The PMBOK 7th Edition focuses on Models, Methods, and Artifacts. It gives project managers the tools they need to succeed11. These areas offer many frameworks, techniques, and documents for the project life cycle.
Models
The Models section in the PMBOK 7th Edition offers various frameworks for different project needs11. It includes 22 models in 7 groups to help with complex situations11.
Methods
The Methods section lists many techniques for project managers11. This includes Data Gathering and Analysis, Estimating, and Meeting Management11. The PMBOK 7th Edition has 60 methods in 4 subgroups, giving managers a wide range of tools11.
Artifacts
The Artifacts section in the PMBOK 7th Edition covers project management templates and documents11. It has 76 items in 9 categories, used 210 times in the guide11. “Artifact” includes many project management documents and plans11.
The guide also shows how models, methods, and artifacts relate to tools from earlier editions11. This helps project managers understand how these elements support effective management11.
“Models are crucial thinking strategies to explain processes, frameworks, or phenomena, while methods are the means for achieving outcomes, results, or product deliverables. Artifacts refer to templates, documents, outputs, or product deliverables.”
Project Management Standards
The Project Management Body of Knowledge (PMBOK) guide is a key standard for project management. The PMBOK 6th Edition outlined five main domains: initiating, planning, executing, monitoring and controlling, and closing12. These domains offer a clear framework for project managers to ensure project success.
PMBOK 6 Standards
The PMBOK 6th Edition detailed the processes for managing projects. It covered the lifecycle stages from start to finish12. This made it easier for teams to manage their projects through each stage.
PMBOK 7 Standards
The PMBOK 7th Edition moved away from the 6th Edition’s process focus. It introduced 12 new principles1. These principles focus on Stewardship, Team, Stakeholders, and more, aiming to guide project managers in delivering value.
The PMBOK 7th Edition also introduced a “Value Delivery System” to better integrate projects and operations1. It has a new layout with colorful images and tables, making it more engaging than previous versions12.
“The PMBOK 7th Edition emphasizes outcomes over deliverables and values for stakeholders.”
The PMBOK standards have evolved to focus more on principles and value creation1. Project managers now face a more dynamic environment. They must focus on delivering outcomes that benefit their organizations and stakeholders.
PMBOK 7 Value Delivery System
The PMBOK 7th Edition introduces a new concept called the “Value Delivery System.”13 It combines projects and operations, seeing them as part of a larger system. This system includes portfolios, programs, products, and operations, all working together to deliver value to stakeholders13. This change marks a big shift from seeing projects and operations as separate things.
The Value Delivery System puts a big focus on benefits management and value for project managers13. It also introduces the FLEKS methodology, which blends Portfolio, Program, Project, and Product Management with value at its core13. The PMBOK 7th Edition has added the “System for Value Delivery” to the ANSI Standard for Project Management13, showing more emphasis on value in project management.
The FLEKS Model shows how its approach can work at different levels, from enterprise to product, with a strong focus on value13. It defines value as the relation between benefits and total cost, measured in money13. It also calculates relative value as the ratio of total benefit to total cost13, giving a clear way to measure the value of projects and operations.
The PMBOK 7th Edition also highlights the importance of value delivery by adding new terms to its glossary13. It mentions financial methods for measuring value, like Simple Payback and ROI13. This shows the need for a detailed approach to value assessment.
In the end, the PMBOK 7 Value Delivery System changes how we see project management1314. It shows that success is about delivering value to stakeholders13. This change comes from understanding that investors want to see the benefits of their investments, making value delivery key in project management13.
| Metric | Description |
|---|---|
| Simple Payback | The time required to recoup the initial investment |
| Payback Period | The time required to recoup the initial investment, considering the time value of money |
| ROI (Return on Investment) | The ratio of the net benefit to the cost of investment |
| ROCE (Return on Capital Employed) | The ratio of operating profit to capital employed |
| CBA (Cost-Benefit Analysis) | A systematic process for calculating and comparing the benefits and costs of a project |
| PV (Present Value) | The current worth of a future sum of money or stream of cash flows |
| NPV (Net Present Value) | The difference between the present value of cash inflows and the present value of cash outflows |
| IRR (Internal Rate of Return) | The discount rate that makes the net present value of all cash flows equal to zero |
The PMBOK 7 Value Delivery System is a big change in project management, combining projects and operations for the best value1314. It emphasizes benefits management, value delivery, and a detailed approach to value assessment. The PMBOK 7th Edition is set to change how organizations manage projects and achieve lasting success.
Inclusive and Digitized Content
The updated PMBOK® 7th Edition content is more inclusive. It acknowledges that project managers use many methods to achieve results15. It’s also in a digital format, making it easy to use as an on-the-job reference15.
The PMBOK® Guide Seventh Edition was released in August 202115. It’s more user-friendly and fits with “Predictive, Adaptive (agile), and Hybrid” methods15. It’s organized into Eight (8) Performance Domains and Twelve (12) Project Delivery Principles15.
The PMBOK® 7th Edition content is now more digitized and inclusive for project practitioners15. This change meets the need for on-the-job reference materials. It supports the wide range of project management methodologies used today15.
“The updated PMBOK® 7th Edition content is designed to be more inclusive, recognizing that practitioners may use a variety of methodologies and approaches to deliver project results and value.”
With the PMBOK® Guide Seventh Edition, project managers have a detailed and digitized resource. It supports their diverse project management practices. This helps them handle the complexities of modern project delivery better15.
Practice Standards and Frameworks
The PMBOK Guide is supported by Practice Standards and Frameworks. They give advice on using the PMBOK Guide’s principles and standards1. These manuals help project managers use the tools and processes from the PMBOK Guide effectively1.
The PMBOK Practice Standards focus on specific project management areas. They offer deep insights and best practices for tasks like risk management and scheduling16. These standards are great resources for project managers, giving them the skills to apply PMBOK Guide principles16.
The PMI also has Project Management Practice Manuals for different project management areas. These include portfolio management, program management, and organizational project management16. These manuals help project managers deliver projects successfully, aligning with organizational goals16.
Using the PMBOK Practice Standards and Project Management Practice Manuals can improve project managers’ skills. This leads to better project delivery and more value for their organizations116.
“The PMBOK Practice Standards and Frameworks provide project managers with the essential tools and guidance to effectively apply the principles and standards outlined in the PMBOK Guide.”
By using these practice standards and frameworks, project managers can ensure their projects meet PMI’s best practices. This helps their organizations succeed116.
Key Takeaways
- The PMBOK Guide is complemented by Practice Standards and Frameworks that provide detailed guidance on applying the PMBOK principles and standards.
- PMBOK Practice Standards offer comprehensive insights and best practices for specific project management disciplines, such as risk management and scheduling.
- Project Management Practice Manuals cover a range of project management aspects, including portfolio management and organizational project management.
- Leveraging the PMBOK Practice Standards and Project Management Practice Manuals can enhance project managers’ skills and knowledge, leading to more effective project delivery and greater value creation.
| Program Name | Course Duration | Coding Experience Required | Skills Learned |
|---|---|---|---|
| PMP® Certification Training Course | 90 days flexible access to online classes | No | 8+ PM skills |
| PMP Plus | 36 months | No | Various project management skills |
| Post Graduate Program in Project Management | 6 months | No | Various project management skills |
Choosing the Right Project Management Program
Aspiring and experienced project managers can boost their skills by picking the right program. Options include the PMP® Certification Training Course, the PMP Plus program, and the Post Graduate Program in Project Management. Each offers a detailed curriculum to help professionals lead successful projects and meet organizational goals1718.
The PMP® Certification Training Course is a top pick for project managers. It matches the PMBOK® Guide – 7th Edition and gets you ready for the PMP exam. The course covers eight key areas, including Organizational Strategy and Governance, and Project Work Management19. It requires 35 hours of prep and 180 questions for the PMP exam, offering a thorough way to learn project management17.
For deeper training, the PMP Plus and Post Graduate Program in Project Management are great choices. The PMP Plus includes an online PMP exam simulator with over 2,000 questions. The Post Graduate Program covers various project management methods, including Agile and hybrid, which are half of the PMP Exam content1719.
Choosing the right program is key. A good study plan and practice questions can help pass the PMP exam17. Investing in a quality program helps professionals grow in their careers and deliver successful projects.
| Program | Key Features | Exam Preparation |
|---|---|---|
| PMP® Certification Training Course | Aligns with PMBOK® Guide – 7th Edition, Covers 8 performance domains | Minimum 35 hours of preparation, 180 exam questions |
| PMP Plus | Includes online PMP exam simulator with 2,000+ practice questions | Comprehensive exam preparation |
| Post Graduate Program in Project Management | Covers Agile, hybrid, and traditional project management methodologies | Prepares for PMP Exam with 50% Agile and hybrid content |
By picking the right program, professionals can improve their skills and pass the PMP exam. This boosts their career in project management18.
Conclusion
The PMBOK 7th Edition marks a big change in project management. It focuses on value delivery, a principles-based approach, and tailored project management. This is to meet the changing needs of today’s business world202115.
This edition shifts the focus from processes to performance. It gives project management pros a flexible framework. This helps them tackle modern project challenges and achieve success for their teams and stakeholders.
The key focus of the PMBOK 7th Edition is to help project managers align with their organization’s strategic goals. It ensures project outcomes add real value for stakeholders20. The guide’s 12 principles of project management and 8 project performance domains offer a detailed roadmap. They guide practitioners in customizing their project management strategies for each project’s unique needs2021.
As businesses face fast-changing landscapes, the PMBOK 7th Edition offers a timely framework. It empowers project management pros to achieve successful outcomes and support their organization’s strategic goals21. By adopting the principles-based and value-centric approach of this edition, project managers can handle today’s project complexities. They can make a lasting impact for their organizations.
FAQ
What is the key focus of the PMBOK 7th Edition?
The PMBOK 7th Edition focuses on delivering value. It uses a principles-based approach. It also tailors project management to today’s business needs.
What is PMBOK in Project Management?
PMBOK stands for Project Management Body of Knowledge. It’s a guide for project management pros. It’s the top standard in the field, offering best practices and more.
What is the history of PMBOK?
PMBOK started with the Project Management Institute (PMI) in 1969. The first PMP certification came in 1984. The first PMBOK Guide draft was in 1994.
What are the key changes in the PMBOK 7th Edition?
The PMBOK 7th Edition focuses more on tailoring project management. It uses a new “Tailoring” framework. It also has eight performance domains instead of 10 knowledge areas.
What are the PMBOK 6 Knowledge Areas and PMBOK 7 Performance Domains?
The 6th Edition had 10 knowledge areas. The 7th Edition has eight performance domains. These include Stakeholders, Team, and more.
How does the PMBOK 7th Edition introduce the concept of “Tailoring”?
The PMBOK 7th Edition introduces “Tailoring.” It lets project managers adapt to project needs. This involves understanding the project context and goals.
What are the new Models, Methods, and Artifacts in the PMBOK 7th Edition?
The PMBOK 7th Edition has a section on Models, Methods, and Artifacts. It offers resources like articles and templates. These help project managers deliver projects effectively.
How has the PMBOK 7th Edition shifted from the process-focused standards of the 6th Edition?
The PMBOK 7th Edition has 12 new project management principles. It focuses on concepts like Stewardship and Team. It’s a big change from the 6th Edition.
What is the PMBOK 7th Edition’s “Value Delivery System”?
The PMBOK 7th Edition introduces the “Value Delivery System.” It integrates projects and operations for the best value. It sees projects as part of a larger system.
How is the PMBOK 7th Edition content designed to be more inclusive and digitized?
The PMBOK 7th Edition content is more inclusive and digital. It recognizes various methodologies and approaches. It’s also available digitally for quick reference.
How can project managers enhance their skills and knowledge with the PMBOK Guide?
Project managers can improve by choosing the right program. Options include the PMP Certification Training Course. These programs offer a comprehensive curriculum for success.
