The Project Management Body Of Knowledge (PMBOK) is a guide released by the Project Management Institute (PMI). The Guide assists aspirants of PMP certification with their preparation. Launch of the first PMBOK Guide was in 1994. Radical changes in project management led to the print of different PMBOK Guide versions. The 7th edition of PMBOK released in 2021 is the latest guide for PMP candidates.
Changes seen in 7th edition of PMBOK Guide
The latest edition of the PMBOK guide is the foundation for individuals taking up the PMP exam. The 7th edition focuses on the system for value delivery initially released in the 6th edition.
Summary of changes:
The process groups under the title of “The Standard for Project Management” are replaced with 12 principles of PM.
Under the title of “A Guide to the Project Management Body of Knowledge”, the 10 knowledge areas are replaced with 8 project performance domains.
PMP aspirants need PMP Certification Training course, to gain knowledge of the changes mentioned in the PMP Exam content outline. This helps individuals to gain a comprehensive understanding of 12 principles and 8 domains. With the expertise of highly qualified trainers in the project management field PMP candidates can clear the exam easily.
How to acquire PMBOK Guide?
The PMBOK guide is available as a paperback and a digital copy. To access the free digital copy an individual must be a member of PMI. The paperback is available in several bookstores and on Amazon.
What does the PMBOK Guide consist of?
Every PMP aspirant has to be thorough with the following sections to clear PMP Exam. Listed below are the elements covered in the PMBOK Guide-7th edition.
Standard for Project Management
System for value delivery
Project Management Principles
Project Performance Domains
Models Methods and Artifacts
Standard for Project Management:
The standard to be followed irrespective of the size, industry, location, and delivery methods is described here. Stakeholders, project practitioners, and any individual accountable for the progress of the project refer to this standard for handling projects.
System for value delivery:
This section defines how project managers can create value for organizations and stakeholders; a governance system to measure the value created; a list of operations for supporting the project; the influence of external and internal environment on the project, and the interconnection of projects, portfolios, programs, and products.
Project Management Principles:
As the new PMP syllabus highlights the key areas of processes, people, and business environment. Project management principles focus on providing guidelines to project managers for managing people. These principles include:
Stewardship: Being a diligent, caring, and respectful steward
Team: Creation of collaborative environment for the project team
Stakeholders: Engaging with stakeholders
Value: Focusing on value
Holistic approach: Recognizing, responding, and evaluating system interactions
Leadership: Demonstrating the different leadership behaviors
Tailoring: Tailor the project development approach based on the project
Quality: Devising quality into processes and deliverables
Complexity: Navigate the complexities of the project
Opportunities and threats: Optimizing risk responses
Adaptability and resilience: Embracing adaptability and resiliency to project team
Change Management: Enabling change to achieve the visualized future state
This part describes the link between the standard of project management and PMBOK guide.
Project Performance Domains:
The domains mentioned here establish an integrated system for delivering projects with the desired outcomes.
Stakeholder: PMP aspirants learn the methods of performing stakeholder analysis to maintain a healthy relationship.
Team: Activities related to managing people who produce end results whilst initiating interpersonal skills come under this domain.
Development approach and lifecycle: Tasks that assist in developing products or services by following project lifecycle are described under this element.
Planning: This domain lists out the plan for organizing and collaboration of activities necessary for delivering the results.
Project work: Procedures, resources to be acquired and creating a learning environment for the project team come under this domain.
Delivery: Tasks related to the delivery of scope and quality that the project intends to achieve on completion are listed here.
Measurement: Evaluation and control measure tasks for maintaining a standard level of performance are described here.
Uncertainty: Activities associated with risks and uncertainties arising out of the project are listed under this element.
This part is the new section in PMBOK guide. It assists project management professionals (PMP) to make changes in the procedures followed for project management. This in turn helps to tailor PM practices as per project and organization needs.
Tailoring can be applied to different elements of project management such as project lifecycle, processes, stakeholder relations, models, and artifacts. This benefits the organization and project managers in many ways.
Models, methods, and artifacts:
PMP aspirants master the commonly used methods, models, artifacts for managing projects. It enables the project team to select the best tools from the wide range of options available. This helps in setting strategies and achieve desired outcomes.
With the help of the PMBOK Guide, PMP aspirants gain a clear understanding of PM and the latest practices, tools, and techniques. PMP certified professionals can effectively manage their project-related tasks with this knowledge. PMBOK Guide helps in speeding up the process of acquiring the gold standard of Project Management Institute’s Project Management Professional (PMI-PMP) Certification.