Corporate value is typically associated with tangible and intangible advantages received by users, employees and other business professionals. Value Delivery System is an all-inclusive approach through which projects accomplish business value. Let’s go through the two fundamental aspects influencing modifications in PMBOK 7th edition. This approach is more practitioner-friendly or action-focused. Another noticeable change is the shift in scope that addresses project delivery apart from the project management. Therefore, it supports every type of project delivery. The major change in the PMBOK 7th edition is the dramatic shift from process-based project management to principle-based project delivery.
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The agile guidelines were highly adaptable in project management more specifically to the IT and software industry. Subsequently, agile project management techniques and approaches have emerged in the 2000s.
Considering the conventional project management strategies, it is unlikely to welcome quickly modifying project requirements. Product life cycles are relatively short while the requirements keep on changing over time with the ongoing progress of the project. With the transforming technology, competition is getting tough than ever before. Until now, PMBOK predominantly highlighted the waterfall project management techniques. It is quite evident that this diverse field comes with great uniqueness which keeps on focusing on evolving aspects. The transforming project dynamics emphasize on ultimate outcomes rather than deliverables. The book focuses on the principles that are typically accepted and practised in project management. The current knowledge areas comprising techniques, tools, inputs, and outputs are not included in the recent edition. In PMBOK 7th edition, project management standards are primarily based on principles instead of processes, a paradigm shift from a process-based approach. PMBOK 7th edition is expected to be released in Q4 of 2020! The current standard of project management with PMBOK 6 covers 5 project management process groups i.e Initiating, Planning, Executing, Monitoring and Controlling, Closing. The Standard for Project Management is part 2 of the PMBOK. PMI published the exposure draft for the new Standard for Project Management on 15 January 2020 for one month to be reviewed.
By Cyndi Dionisio, member of PMBOK 7 team We are really focusing not so much on the outputs like we have seen before. The Seventh Edition is a whole new beast. The Standard of Project Management and PMBOK 7 (“The dawn of a new era!) (Download)