Are the changes in PMBOK7, going to be major and complicated?
Are the changes in the new version of the project management body of knowledge going to be massive and difficult to learn?. This is one question that will be looming large in the minds of both PMP credential aspirants and trainers now, because the version 7 of the Project Management Body of Knowledge (PMBOK7) is set to release during January 2021. When I became a PMP the version of PMBOK was 2. Then as a trainer, I trained people through PMBOK versions 3,4,5 &6. Since PMBOK was not covering Agile during those days, I learned agile through my Certified Scrum Master (CSM) and then later PMI-ACP. Based on this experience and scanning through all the information available about PMBOK7, I want to highlight the following;
- The fundamentals of project management will not and cannot change. All projects follow the Deming's Plan-Do-Check-Cycle. Some projects do it spanning the whole project from the start till end where as some projects have shorter Plan-Do-Check-Act cycles. The following are the absolute truths of every project;
- For all projects, scope must be defined
- The scope must be decomposed into a Work Breakdown Structure (WBS)
- The project's Organization Breakdown Structure (OBS) is defined
- The Work packages, which are the lowest element in the work breakdown structure must be estimated for their cost.
- The work packages must be further decomposed into activities.
- Care must be taken to ensure that activities pertaining to all aspects of project management like the following are included in the schedule;
- Integration management
- Scope management
- Schedule management
- Cost management
- Quality management
- Risk management
- Procurement management
- Communications management
- Stakeholder management
- Resource management
- These activities must be estimated for their time and cost.
- Reconciliation between the work package cost estimates and the activity costs must be conducted through a bottom up estimation.
- The activities must be sequenced based on their dependencies.
- Critical path must be established
- Project must be executed as per the project plan
- Project phases including the completion must be formally done.
- I do not see any scope for change in the above sequence, because these steps have not changed from Version 2 till Version 6 and Version 7 will not be an exception.
- In version 6, the success criteria of projects got re-defined as Return On Investment as foretasted, apart from the traditional triple constraints of 'Time, Cost and Scope'. Here after, project managers will be responsible for the profitability of the projects as well. The new Version of PMBOK will be providing lot of thrust on this. Project manager role is becoming more of a leadership role.
- Teams are no more co-located. Most of the project team members are working from home. Hence, command and control style of management is obsolete, and the thrust will be on collaboration and servant leadership.
- In order to achieve faster return on investment and better cash flows, most of the sponsors are demanding phased delivery than big bang deliveries at the end of the project. Hence we can expect lot of emphasis on value delivery and incremental delivery approaches like Agile.
- There will be lot of emphasis on hybrid project management, which is a mix of both predictive project management and adaptive (agile) project management. Though agile was widely used in I.T projects, now EPC projects have also started adopting the agile best practices.
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