New PMI Standards of Project Management Updates: 5th edition of PMBOK

Recently, PMI (Project Mangement Institute) announced the publication of new editions of its project, program amb portfolio management foundational standars.

New standars will be pubished in early january 2013, and will cover fifth edition of PMBOK (Project Managements Body of Knowledge), and third edition of “The Standard for Progran Management” and “The Standard for Portfolio Management”.

You can access to complete information clicking on:

• A Guide to the Project Management Body of Knowledge (PMBOK^® Guide )—Fifth Edition
• The Standard for Program Management—Third Edition
• The Standard for Portfolio Management—Third Edition

I want to highlight of new PMBOK edition 3 important aspects:

• A 10th Knwoledge Area: Project Stakeholder Management. I was sure this area would be added in the last revison of PMBOK, Fourth Edition. Finally, it is included
• Project data information and information flow have been redefined and aligned with the DIKW (Data, Information, Knowledge and Wisdom) model used in the field of Knowledge Management
• Four new planning processes added to reinforce the concept of the subsidiary plans integrated through the overall project management plan:
  • Plan Scope Management
  • Plan Schedule Management
  • Plan Cost Management
  • Plan Stakeholder Management

In following post I will talk about the new aspects of the remaining two foundation standards.