With the rapid advancement of technology, competitiveness is fiercer than ever before. Product life cycles are shortened, and product or project requirements might vary over time based on the project’s development.
Traditional project management methodologies make it impossible to accommodate quickly changing project needs. That is why, in the 2000s, agile project management methodologies and approaches arose. Many firms began to use agile frameworks in project management, particularly IT & software industries.
PMP is the most renowned project management credential with approximately one million PMP-certified professionals worldwide. The PMBOK Guide is the foundation for the PMP certification exam. Because the dynamics of project management, popular frameworks, and trends are evolving, PMBOK must also be pertinent to the changing market dynamics of the project management profession. That is the primary reason why the PMBOK is updated every 3 to 5 years.
PMBOK 7th Edition – Updates
PMBOK 7th edition is focused on principles instead of procedures, and it is substantially shorter than the previous Edition.
Project managers use a variety of ways while managing projects, which depend on the project’s features, industries, stakeholder requirements, and organization. Agile, predictive, hybrid, or waterfall techniques are all possible. The key idea is that project management guidelines must not favor one technique over another. Project management guidelines must prioritize project success & value delivery.
The PMP exam is based on the PMP Certification Exam Content Outline (ECO) instead of the PMBOK Guide or other reference sources. The Exam Content Outline highlights the research that went into developing the PMP exam and contains the most important activities that project managers must complete to master their profession.
The present Exam Content Outline (January 2021) was meant to be applicable for the near future, and PMI will notify the public in advance before launching a new ECO and related exam.
- The PMBOK Guide 7th Edition will now be used as a resource to inform the formulation of the exam. However, before each approved exam item is introduced to the exam, it is subjected to a detailed review & field-testing process. This procedure takes several months to complete.
- The PMBOK Guidebook 6th Edition’s key learnings and principles are still valued and are cited in parts of the 7th Edition’s guide.
- PMBOK 6th Edition has three introductory chapters and ten subject areas. Instead of those subject areas, there will be performance domains in the PMBOK 7th Edition. There will also be chapters on Tailoring, Models, Methods, & Artifacts.
- The PMBOK 6th Edition divides project management into 5 process groups: initiating, planning, executing, monitoring & controlling, and closing. These are also known as the 5 stages of a project’s development cycle. Processes from these process groupings exist for each knowledge field. For example, the estimate costs procedure is part of the planning process group & the cost management knowledge area.
- The process-based technique is replaced with a principle-based technique in the PMBOK 7th Edition. There will also be 12 Project Delivery Principles as well as a Value Delivery System. The Value Delivery System will prioritize producing valued outcomes over fulfilling deliverables. Projects are crucial parts of the Value Delivery System, and principles will assist Project Managers, Team Members, & stakeholders in accomplishing desired outcomes to create value for the company and stakeholders.
Read a Blog post: Why it is important to have your team PMP certified?
New Platform Coming with PMBOK 7th Edition
The Models, Methods, & Artifacts portion of the Standards Plus interactive digital content platform will be connected to the PMBOK 7th Edition. This platform will provide “how-to” information on existing, developing, and future practices, methodologies, artefacts, and other important information. Standards Plus intends to begin with ITTOs from the PMBOK Sixth Edition and include new resources as project management evolves.
Project Delivery Principles
The PMBOK 7th edition will include 12 principles that describe the “what” & “why” of delivery of the project. Project delivery principles are descriptive rather than prescriptive, describing a core fact, standard, or value. Project team members must adhere to these principles to achieve the desired objectives of the project delivery. The 12 principles are as follows.
- Stewardship: Be a good steward by being vigilant, courteous, and caring.
- Team: Create an environment of accountability & respect.
- Stakeholders: Consult with stakeholders to learn about their interests and requirements.
- Value: Emphasize value.
- Holistic Thinking: Identify & respond to the interplay of systems.
- Leadership: Motivate, influence, coach, and learn as a leader.
- Tailoring: Adjust the delivery strategy dependent on the situation.
- Quality: Incorporate quality into procedures and outcomes.
- Complexity: Deal with complexity by knowledge, experience, and learning.
- Address Opportunities and Risks: Address both opportunities and threats.
- Adaptability and Resilience: You must be adaptive and resilient.
- Change Management: Facilitate change to attain the desired future state.
Considering the trend of past Exam Content Outline releases, the ECO updates every 3 to 5 years following the introduction of a newly issued edition of the PMBOK guide. As a result, we anticipate that the next ECO will be released around 2024-2025.
However, there is a possibility that the PMP test will be upgraded sooner. Historically, the certification examination has been changed every two years or after presenting an enhanced version of the ECO or the PMBOK for six months. As a result, we may expect the PMI to update the test in 2022 or 2023 to reflect the new terminology and ideas provided in the PMBOK 7th Edition.
These are only projections; likely, the PMI will not follow the same trend that it has developed over the years. However, they normally provide a 6-month gap before making any modifications to the test to allow instructors to update their training materials and PMP candidates to choose which exam version to take.
Learn PMP with Cognixia and upskill yourself
The Project Management Professional (PMP) certification is the most sought-after project management qualification. PMP certification enables project managers to operate remotely across several sectors and from anywhere in the globe.
The training course is created by active professionals and then evaluated by the project management community before being released to ensure that it always represents the current status of the profession. Organizations are now emphasizing the development of leadership, negotiations, and dispute settlement abilities, in addition to conventional IT and technical talents. We give the most up-to-date training suited to the industry’s need for workers with the necessary capabilities through our globally recognized PMP certification.
This PMP online training includes a variety of concepts. It explains the distinctions between project management & operations management. Cognixia’s PMP Certification Training has been intended to assist managers/professionals manage projects more efficiently and effectively by utilizing the Project Management Life Cycle.
This online PMP training covers the following concepts –
- Manage conflict
- Lead a team
- Support team performance
- Empower team members and stakeholders
- Ensure team members/stakeholders are adequately trained
- Build a team
- Address and remove impediments, obstacles, and blockers for the team
- Negotiate project agreements
- Collaborate with stakeholders
- Build shared understanding
- Engage and support virtual teams
- Define team ground rules
- Mentor relevant stakeholders
- Promote team performance through the application of emotional intelligence
- Manage project changes
- Integrate project planning activities
- Plan and manage scope
- Plan and manage the quality of products/deliverables
- Plan and manage schedule
- Plan and manage budget and resources
- Engage stakeholders
- Assess and manage risks
- Manage communications
- Execute project with the urgency required to deliver business value
- Plan and manage procurement
- Manage project artifacts
- Determine appropriate project methodology/methods and practices
- Establish a project governance structure
- Manage project issues
- Ensure knowledge transfer for project continuity
- Plan and manage project/phase closure or transitions
- Plan and manage project compliance
- Evaluate and deliver project benefits and value
- Evaluate and address external business environment changes for impact on the scope
- Support organizational change