Competitive interactions are becoming more fierce because of the rapid advancement of technology. The product life cycle is shorter as well as the requirement for a project changes over time based on what it requires. A traditional project management methodology is not helpful for this task because of all the changes that it has to go through. That's why, in the 2000s, agile project management methodologies and approaches arose due to all the changes in projects from the software and IT industries.
PMBOK 7th Edition – Updates
The 7th edition of PMBOK is focused on principles instead of procedures and it is substantially shorter than the previous edition. Project managers use a variety of ways while manage projects depending 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.
The present PMP 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 tested thoroughly by leading experts in the field. This process takes several months to complete.
The PMBOK Guidebook is still the go-to guide, even after its revisions. PMBOK guides are cited in parts of the 7th edition, which means they're still valued.
PMBOK 6th Edition contains five introductory chapters and nine subject areas, in addition to performance domains in the new version of PMBOK, PMBOK 7th Edition. These chapters will cover tailoring, methods, models, and artifacts.
If you're interested in getting your hands on the Seventh Edition of the PMBOK, you'll need to get in line.
New Platform Coming with PMBOK 7th Edition
Standard Plus connects to PMBOK 7th Edition content goal of providing instruction on existing, developing, and future practices, methodologies, artifacts, and other important information. Standard Plus will start with ITTOs for the PMBOK 6th Edition, and add new resources as project management evolves.
Project Delivery Principles
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.