ProThoughts brings the 1st Insights for you – Everything you need to know about the new changes in the PMBok guide.
The PMBoK 7th Edition looks remarkably different from the current 6th edition. PMI has released the exposure draft of 7th edition and if you are a PMI member, you can view the exposure draft. They have released the 1st three chapters and hopefully, they will be releasing the entire edition slowly in parts.
Why the exposure draft of the 7th edition?
PMI is addressing multiple things with this exposure draft. For one definitely, it is receiving feedback from the practitioners all around the world on their views on this upgrade of content in the 7th edition. For beginners with PMBoK editions, PMI revises edition of PMBoK every 3 – 5 years as project management practices evolve and they try to incorporate the best practices from all around the world. Currently, project management practices are getting a lot of importance and many practitioners have started believing that good practices do yield strong results. PMI has tried to inculcate this philosophy always and have done so in the upcoming edition – the 7th edition of PMBoK.
Further, besides getting the much-required feedback from the practitioners and experts, PMI also smartly is creating a buzz on the new upgrade among the fellow project managers. Something new and exciting is always welcome and in this rapidly changing world, being relevant is something that we all like to be.
Thirdly, the exposure draft gives a candid overview of the new PMBoK and the direction in which project management is moving.
Let’s take a peek inside the new PMBoK edition. We will be updating on the new topics as PMI introduces new topics in its new edition and also, some behind the scenes updates. Stay tuned.
- Creating Value through Project Management
There is more emphasis on creating VALUE. Not that, it was not there earlier and projects are meant to deliver business value. However, in the new edition, there has been a focus on Value and linking it with the Strategic objectives of the organization. Projects are always meant to do that.
In the 7th edition, they are introducing “Value-Based Delivery” in the current changing dynamic world of project management.
This will be a collection of strategic business objectives aimed at building, sustaining and/or advancing an organization. The Value-based Delivery system emphasizes a broad application of concepts, practices, and techniques for producing value in an increasingly complex business context.
In the new edition, the synergies between Portfolios, Programs, Projects, and Operations has been more pronounced and spelled out more effectively.
The above diagram clearly articulates the relationship between strategy and the various components of Project Management. While Projects rely on business outcome and Programs should rely on creating benefits from the outcome, Operations focus on Benefits realization.
To further illustrate the point, the Value Delivery System spans out as following:
It operates within the constraints and context of both the internal environment and the external environment.
The change as we see in the 7th Edition it is the Value Delivery System majorly in the 1st two chapters. The rest of the things are as they were in the earlier sections which are Roles in Project Management (although more detailed), Enterprise Environment Factors and Organization Process Assets.
- 12 Principles of Project Delivery
Another major change what 7th Edition brings out is the 12 Principles of Delivery – very akin to Agile Principles. The number surprisingly is also the same – 12. In our opinion, these principles are given when one practices project management; however, PMI proposes to make it a standard commentary across the delivery of a project. There is a good amount of literature surrounding these 12 principles. Although, we could not understand the purpose and intent of introducing these 12 principles. It does look like a building a mindset and approach, very similar to Agile and perhaps taking this approach head-on with Agile approach and practices.
The 12 principles are as follows:
- Be a diligent, respectful, and caring steward
- Build a culture of accountability and respect.
- Engage stakeholders to understand their interests and needs.
- Focus on value.
- Recognize and respond to systems’ interactions.
- Motivate, influence, coach, and learn.
- Tailor the delivery approach based on context.
- Build quality into processes and results.
- Address complexity using knowledge, experience, and learning.
- Address opportunities and threats.
- Be adaptable and resilient.
- Enable change to achieve the envisioned future state.
So far the 7th edition is spanning out good and is a welcome change as we intend to keep relevant in the world of project management. We would be closely following what’s coming next.
Check out this space for more details – your 7th edition will be summarized effectively