Overview of PMBOK Edition 7 Principles

Aug 19, 2024

Project Management Body of Knowledge (PMBOK) Edition 7 Overview

Introduction

  • Comprehensive guide to project management principles
  • Encouragement to absorb the material

12 Principles of Project Management

  1. Be a diligent, respectful, and caring steward
  2. Create a collaborative team environment
  3. Effectively engage with stakeholders
  4. Focus on delivering value to the organization or customers
  5. Recognize, evaluate, and respond to system interactions
  6. Demonstrate leadership behaviors and support team growth
  7. Tailor the project based on organizational and product context
  8. Build quality into processes and deliverables
  9. Navigate complexity and optimize risk responses
  10. Embrace adaptability and resiliency
  11. Enable change to achieve envisioned future state
  12. Recognize that projects are fundamentally about change

Structure of PMBOK

  • Three Sections:
    • Project Performance Domains
    • Tailoring Project Performance Domains
    • Models, Methods, and Artifacts

Project Performance Domains

  1. Stakeholder Performance Domain

    • Outcomes:
      • Productive relationships with stakeholders
      • Agreement with project objectives
      • Satisfaction of beneficiaries
    • Key terms: Stakeholder, project manager, governing bodies
    • Engagement Process:
      • Identify, understand, analyze, prioritize stakeholders
      • Use push/pull communication methods
      • Quick feedback loops for effective communication

  2. Team Performance Domain

    • Outcomes:
      • Shared ownership and high-performing teams
      • Leadership displayed by all members
    • Key terms: Project management team, project team
    • Team Management: Monitor effective processes (management) vs. support growth (leadership)
    • Leadership Styles: Centralized vs. distributed leadership
    • Establishing team culture: Psychological safety, trust, collaboration

  3. Development Approach and Life Cycle

    • Outcomes:
      • Consistency in deliverables and stakeholder connections
    • Key terms: Deliverable, project phase, project life cycle
    • Development Approaches: Predictive (waterfall) vs. adaptive (agile)
    • Considerations for selection: Product complexity, team maturity, regulatory restrictions

  4. Project Planning Performance

    • Outcomes:
      • Organized project progress and adaptable planning
    • Key terms: Estimates, schedule crashing, budgeting
    • Planning Variables: Development style, stakeholder requirements, market conditions
    • Estimation techniques: Deterministic vs. probabilistic estimating

  5. Project Work

    • Outcomes:
      • Effective project performance and continuous learning
    • Key terms: Bid documents, explicit vs. tacit knowledge
    • Review processes: Lean methods, retrospectives, cost-benefit analysis

  6. Delivery Performance Domain

    • Outcomes:
      • Alignment with business objectives and stakeholder satisfaction
    • Key terms: Requirements, delivery value, definition of done
    • Importance of quality assurance in deliverables and the cost of quality

  7. Measurement Performance Domain

    • Outcomes:
      • Reliable project status understanding and actionable data
    • Key terms: Metrics, dashboards, KPIs
    • Measurement pitfalls: Vanity metrics, misusing data, correlation vs. causation

  8. Uncertainty Performance Domain

    • Outcomes:
      • Awareness of the broader environment and proactive risk management
    • Key terms: Risk, volatility, ambiguity
    • Strategies: Build resilience, explore uncertainty, identify and manage risks

Tailoring Project Performance Domains

  • Purpose of tailoring: Adapt project management approaches to fit project context and organizational capabilities
  • Tailoring processes: Select initial approaches, tailor for organization and project, and implement ongoing improvements
  • Factors: Team experience, project size, organizational governance, and culture

Models, Methods, and Artifacts

  • Models:

    • Situational leadership, communication models, complexity models
    • Change management models (e.g., ADKAR, Kotter's 8 Steps)
    • Team development models (e.g., Tuckman's Ladder)
    • Conflict resolution methods and negotiation strategies

  • Methods:

    • Data gathering methods (e.g., SWOT analysis, benchmarking)
    • Estimation methods (e.g., parametric, analogous)
    • Meeting types (e.g., kick-off, retrospectives, status meetings)

  • Artifacts:

    • Strategic artifacts (e.g., business case, project charter)
    • Logs (e.g., risk register, change log)
    • Plans (e.g., project management plan, communication plan)
    • Visual tools (e.g., Gantt charts, dashboards)

Conclusion

  • Recap of the importance of PMBOK for project managers
  • Encouragement to utilize knowledge for improved project outcomes
  • Thank you and closing thoughts.