100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached 4.2 TrustPilot
logo-home
Class notes

PMBOK® Guide 7th Edition Published by PMI

Rating
-
Sold
-
Pages
5
Uploaded on
04-05-2023
Written in
2022/2023

Class notice on PMBOK® Guide 7th Edition Published by PMI

Institution
Course









Whoops! We can’t load your doc right now. Try again or contact support.

Connected book

Written for

Course

Document information

Uploaded on
May 4, 2023
Number of pages
5
Written in
2022/2023
Type
Class notes
Professor(s)
Project mangement
Contains
All classes

Subjects

Content preview

Explains the PMBOK® Guide 7th Edition Published by
PMI
The PMBOK Guide 7th Edition and Its Principles
The PMBOK Guide 7th Edition is not a replacement or contradiction of its previous versions.
Instead, it serves as an overarching concept that can be applied to any project. The guide does
not intend to replace or contradict previous versions, and it does not replace any approach to
project delivery. The 12 principles of the PMBOK Guide are inter-connected, and there is no
specific order ranking or priority among them.

The Principles

• The PMBOK Guide comprises 12 principles that can be applied to any project,
regardless of its type.
• These principles are inter-connected, and there is no specific order ranking or priority
among them.
• The principles are not prescriptive, but they tell you what is important to take care of
in your project.
• The principles do not contradict any approach to project delivery.
• The infographic of the PMBOK Guide is not the most important but is the most
relevant.

The Performance Domains

The PMBOK Guide covers the performance domains that I will discuss in a moment.
However, for now, let's focus on the purple area, which comprises the 12 principles.

The PMBOK Guide 6th Edition and the PMI Standards Plus

The PMBOK Guide 7th Edition does not replace the 6th Edition but is something that goes
on top of it. It is not an upgrade but an addition to the PMI standards. The principles of the
PMBOK Guide are not to be ignored, and they must be adapted to every project.

The Infographic

The infographic of the PMBOK Guide is essential to understand, and it tells us what is
important to take care of in our project. Risk and responsibility are not to be ignored, and the
principles of the PMBOK Guide have the same weight and importance.

This is not meant to replace the PMBOK, but rather to add on top of it. The following table
shows an icon, a word, and a sentence, all taken directly from the PMI standard. The words
are important for memorization and understanding. I created my own icons to identify the 12
principles, followed by personal descriptions, comments, and keywords. This is not an
attempt to cover the entire PMI, but rather to understand their intentions.

, Icon Word Sentence
Responsibility Act with integrity and take responsibility for your actions.
Team Work collaboratively with the team to achieve the project goal.
Engage stakeholders to ensure their needs are met and their expectations
Stakeholder
are managed.

The second principle emphasizes the importance of organizational culture and working
together as a team towards a common goal. Psychological safety is key to creating a
collaborative and effective team.

The third principle is engagement, and it is important to engage with stakeholders to ensure
project success.

It is crucial to avoid conflicts of interest, be transparent, and follow the law. Many people
know what is right, but fail to act on it. Engagement is the key word to keep in mind.

Remember, this is not a replacement for the PMBOK, but an additional resource. These
principles are about demonstrating behavior towards your project, regardless of the delivery
approach. It is about being responsible, collaborative, and engaged.

Stakeholders can both support and oppose your project, and their influence may fade quickly
as the project progresses. Failing to engage with them can create threats and missed
opportunities, increasing risks and challenges. Value delivery is a special principle that
emphasizes the importance of engaging with stakeholders without manipulating them.
Successful projects are all about delivering value, realizing benefits, and outcomes that move
the organization towards its strategic position or decision.

System thinking, a new approach to project management, focuses on outcomes, success,
business results, and benefits rather than schedule and budget. The new PMBOK is based on
the principles of agile and system thinking, emphasizing the importance of delivering value
and focusing on outcomes and benefits instead of being on schedule or budget.

It's crucial to be committed to delivering value and engaging with stakeholders to achieve
project success. Incremental changes can speed up the delivery of value, and it's essential to
focus on the need for a project to be on time and budget while delivering value and outcomes.

Understanding System Thinking

If you want to understand system thinking in a simple way, imagine your project as
something inside water, inside a pen, on the top of a stove in the kitchen. If the water heats, it
will affect your project. If the water cools down or there is no electricity, your project won't
work. Your approach to work may have changed due to the COVID-19 pandemic, and you'll
need to balance internal and external perspectives and be informed about what is going on.
System thinking helps you consider and plan for these interactions and understand that
everything is connected.

• Motivation, focus, self-awareness, and facilitation are critical aspects to align.
• Leadership is essential to get things done, and there is no one-size-fits-all approach to
leadership.
$10.49
Get access to the full document:

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

Get to know the seller
Seller avatar
fawazkhan1

Get to know the seller

Seller avatar
fawazkhan1 PMP
Follow You need to be logged in order to follow users or courses
Sold
0
Member since
2 year
Number of followers
0
Documents
2
Last sold
-

0.0

0 reviews

5
0
4
0
3
0
2
0
1
0

Recently viewed by you

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Frequently asked questions