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Project Management Institute Practice Standard ... [HOT]

Its services include the development of standards, research, education, publication, networking-opportunities in local chapters, hosting conferences and training seminars, and providing accreditation in project management.

Project Management Institute Practice Standard ...

PMI has recruited volunteers to create industry standards, such as A Guide to the Project Management Body of Knowledge, a guide that sets out the standards that guide project management, and which shapes what is considered to be the PMI method. [1] Also, it has been recognized by the American National Standards Institute (ANSI).[5] In 2012 ISO adapted the project management processes from the PMBOK Guide 4th edition.[6]

In the 1960s project management as such began to be used in the US aerospace, construction and defense industries.[7] The Project Management Institute was founded by Ned Engman (McDonnel Douglas Automation), James Snyder, Susan Gallagher (SmithKline & French Laboratories), Eric Jenett (Brown & Root) and J Gordon Davis (Georgia Institute of Technology) at the Georgia Institute of Technology[8] in 1969 as a nonprofit organization. It was incorporated in the state of Pennsylvania in the same year. PMI described its objectives in 1975 as to "foster recognition of the need for professionalism in project management; provide a forum for the free exchange of project management problems, solutions and applications; coordinate industrial and academic research efforts; develop common terminology and techniques to improve communications; provide interface between users and suppliers of hardware and software systems; and to provide guidelines for instruction and career development in the field of project management."[9]

In the 1970s standardization efforts represented 10 to 15 percent of the institute's efforts. The functions were performed through the Professional Liaison Committee which called on and coordinated with the Technology, Research Policy and Education Committees. The institute participated in national activities through the American National Standards Committee XK 36.3 and internationally, through liaison with an appointed observer to Europe's International Project Management Association, by then called INTERNET.[7] PMI did not deal with the US federal government directly; a number of members were federal employees in agencies involved with project management.[9]

Launched in 1984, PMI's first credential was the PMP. It has since become a de facto standard certification in project management. In 2007 it earned the ANSI/ISO/IEC 17024 accreditation from the International Organization for Standardization (ISO). As of May 2020[update] over one million people held the PMP credential.[12]

PMI, founded in 1969, is actively engaged in setting professional standards, providing a professional career path for project managers, and maintaining a portfolio of globally recognized professional credentials: The Project Management Professional (PMP) certification, with more than 1M active certificate holders, is the leading certificate in the profession. PMI also certifies professionals as Certified Associate in Project Management (CAPM), Program Management Professional (PgMM), Portfolio Management Professional (PfMP), PMI Professional in Business Analysis (PMI-PBA), Scheduling Professional (PMI-SP), Risk Management Professional (PMI-RMP), Agile Certified Practitioner (PMI-ACP), Disciplined Agile Scrum Master (DASM), Disciplined Agile Senior Scrum Master (DASSM), Disciplined Agile Value Stream Consultant (DAVSC), and Disciplined Agile Coach (DAC).

PMI currently has 15 standards in print with multiple translations, making it the leading project management standards development organization in the world. PMI is the only project management association developing standards for people, projects, programs, portfolios, and organizations.

The Practice Standard for Project Risk Management. Published by the Project Management Institute, Inc. The Practice Standard for Project Risk Management is recommended as a study resource for PMI's Risk Management Professional (RMP) examination, along with Rita Mulcahy's Risk Management Tricks of the Trade for Project Managers. Written for project managers, project team members, supervisors and stakeholders, the Practice Standard for Project Risk Management outlines the principles of effective risk management. This practice standard can be used by project management practitioners to validate the risk management process being employed in a specific situation, project or organization.

The Practice Standard for Project Risk Management is recommended as a study resource for PMI's Risk Management Professional (RMP) examination, along with Rita Mulcahy's Risk Management Tricks of the Trade for Project Managers. Written for project managers, project team members, supervisors and stakeholders, the Practice Standard for Project Risk Management outlines the principles of effective risk management:

In October 2006, the CDC Unified Process (UP) published a Practices Guide, Template, and Checklist on Work Breakdown Structure (WBS) that is consistent with the newly released WBS practice standard from PMI. Eric Norman, PMP, the Chair of the WBS 2nd edition core team also presented the PMI WBS Practice Standard to the CDC Project Management Community of Practice (PMCoP) soon after its initial release.

A Project Management Institute (PMI) Practice Standard is a document created by an appropriately diverse group, through an open consensus-building process covering commonly accepted knowledge and/or practice on a particular topic. The document must be consistent with the PMI Standards Program vision, mission, purpose and standards setting process. A standard is not a rule or law nor is it a textbook that describes how practices should be performed.

In October 2006, the PMI released the 2nd edition of the practice standard for WBS. This PMI standard provides an introduction to the WBS concept, defines the WBS and its characteristics, discusses the benefits of using a WBS, and demonstrates how to build a WBS and determine if it is sufficient for subsequent planning and control. The primary objectives of the PMI Practice Standard for WBS were to provide a common ground for understanding the concepts and benefits of the WBS, and to present a standard application of the WBS as a project management tool. The intent is to encourage the consistent development of the WBS as a project management tool and, as a result, improve the planning and control of projects. It provides guidance and universal principles for the initial generation, subsequent development, and application of the WBS using recognized best practice approaches.

One of the more difficult challenges a project manager faces is to determine how much project management and project documentation rigor needs to be applied to their project for it to succeed without expending unnecessary resources and effort.

The Project Management Institute (PMI) Project Management Body of Knowledge (PMBOK) states good practice dos not mean that knowledge described (in PMBOK) should always be applied uniformly on all projects; the project management team is responsible for determining what is appropriate for any given project.

PMBOK Guide stands for the Guide to the Project Management Body Of Knowledge is the most well known PMI standard. Most people confuse the PMBOK Guide to be a book of knowledge. It is a foundational standard for project management developed by the Project Management Institute (PMI).

A foundational standard provides guidelines, rules, and characteristics. The guide specifically addresses the project management field. They are developed and approved under a census-based process. Further, PMI ensures that as the project management profession evolves, so do their standards.

  • Foundational Standards

These are generally recognized standards. They are based on on-going research into practices that have been proven over multiple projects and in multiple industries. They also provide terminology and guidelines.

These are based on up and coming practices that have been recognized in the foundational standards. They tend to be either tools, techniques, or a method. An example is a practice standard for project risk management to address one of the ten knowledge areas.

The PMBOK Guide is PMI's fundamental and the world's most popular resource for effective project management practices. The knowledge in the PMBOK Guide reflects what is actively practiced and historically proven. This guide is consistently updated to reflect the best practices that are evolving within the project management profession. Project managers use PMBOK Guide for project management industry-consistent lexicon and for adopting time-tested practices.

PMI described the role of the project manager in detail in the 6th edition of the PMBOK Guide. This included expanding the role into strategy and leadership. It adopts the PMI Talent Triangle as a model for exceptional project management.

PMBOK Guide 5th Ed: After receiving a considerable amount of recommendations, PMI released the 5th edition in 2013. This guide represented PMI's efforts to continually update and upgrade the body of knowledge of the project management profession.

This edition attempted to include advancements within the project management field. This edition added the stakeholder management knowledge area. These recommendations were added to the PMP certification exam. PMBOK Guide 5th edition pdf is also available as a free download for PMI members.

PMBOK Guide 6th Ed: The 6th edition is the largest shift in PMI's foundational standards since its first edition. It added Agile processes and changed knowledge area names. The project team is now managed as part of human resource management. PMTI has a detailed description of the PMBOK Guide 6th edition changes. Please head over to learn more.

The Standard for Portfolio Management, fourth edition integrates portfolio performance management, portfolio strategic management, and portfolio communication management. Portfolio managers oversee a variety of projects and programs that are grouped together to meet the strategic needs of a business. Being principle-based, this guide is applicable to a broad range of organizations. 041b061a72


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