Project management professional gave us her opinion about the Project Management Body of Knowledge and it supreme changes occurring from the PMBOK4 to PMBOK5. The important changes occurring in the update to PMBOK5 include; changes in knowledge areas, failure, new and explicit concepts, maturity and project management office.
In the new knowledge areas, the vast communication between management has ensured a split to enhance the stakeholder management. New concepts have been incorporated into the new PMBOK5. The section about business value is completely new and well explained in chapter one. PMBOK5 in chapter three is explained that projects can now be terminated prematurely. In chapter eleven you get to understand about risk management, which now it includes; attitude, threshold and appetite.
PMBOK5 added a newly changed concepts. Now, the project manager is no longer responsible for achieving the project set objectives. In chapter one, the concept of the project manager is being the leader of the project team. Chapter two properly explains the stakeholders where it provides a sufficient information for anyone to perceive oneself as being directly affected by a decision, activity or outcome of a project hence, a proper project stakeholder. The project sponsor role is well accounted for in chapter three where the sponsor is entirely responsible for the project success.
In the terms; maturity, a lot of emphases has been laid on the provision of adequate alignment with the PMI standards. It also requires proper explanation of topics and agitates for practical advice from project management reality. Maturity enhances Precision and optimum performance in projects.
PMBOK5 has further expanded the definition of Project Management Office. They have stratified it into three possible ways of existence:
The clear definition of Project Management Office helps enhance the precision of a project.
The addition of process has also been enhanced in the PMBOK5. The processes added include:
- Plan Scope Management
- Plan Schedule Management
- Plan Cost Management
- Plan Stakeholder Management
- Control Stakeholders engagement
In addition, process changes have been enhanced in the PMBOK5. The changes include:
- Control Risks
- Control Communications
- Manage Communications
- Control Procurements
- Identify Stakeholders
- Direct and Manage Project Work
- Validate Scope
- Plan Quality Management
- Control Quality
- Plan Human Resource Management
- Plan Communications Management
- Manage Stakeholders’ Engagement
In conclusion, the important changes to PMBOK5 are in response to market changing trends and the natural evolution of the project manager role in the global market. It aims at enhancing optimum performance in project management.