Overview of PMBOK Guide 6th Edition

Sep 11, 2024

PMBOK Guide 6th Edition Lecture Notes

Introduction

  • Overview of PMBOK Guide 6th Edition compared to 5th Edition.
  • Lecture will go through the project management process from initiation to closing.
  • PMBOK is a comprehensive reference guide (600-700 pages).

Structure of PMBOK Guide 6th Edition

  • Part One: General Concepts
    • Chapter 1: What is a project?
    • Chapter 2: Organizational structures and leverage in projects
    • Chapter 3: Role of the project manager and PMI Talent Triangle
  • Part Two: ANSI Standard of Project Management
    • New structure; core concepts explained in context of interconnected processes.

Project Initiation

  • Initiating Process:
    • Develop the Project Charter (like a birth certificate for the project).
    • Identify Stakeholders: anyone with interest in the project (positive or negative).
    • Important Note: Stakeholder identification and project charter development occur simultaneously.

Planning Process

  • Planning: Understanding how to deliver project objectives while satisfying stakeholder interests.
  • Integration: The glue that connects the other processes, ensuring balance across all areas (scope, schedule, cost, etc.).
  • Key Planning Areas:
    1. Scope Management:
      • Define how to manage the project's scope.
      • Collect requirements (functional and technical) to define the scope.
      • Create Scope Statement and Work Breakdown Structure (WBS).
    2. Schedule Management:
      • Define rules for managing the project schedule.
      • Create a Schedule (Gantt chart, network diagram, etc.).
    3. Cost Management:
      • Define cost management rules.
      • Estimate costs and develop budget.
    4. Quality Management:
      • Define quality standards expected for the project.
    5. Resource Management:
      • Plan for managing all resources (human, materials, equipment).
    6. Communications Management:
      • Build a communication plan specifying what, when, and how to communicate.
    7. Risk Management:
      • Understand risk tolerance, identify risks, analyze risks (qualitative and quantitative).
    8. Procurement Management:
      • Make or buy decisions and procurement planning.
    9. Stakeholder Engagement:
      • Further engagement strategies after initial identification.

Execution and Monitoring

  • Execution:
    • Implement the project plan, manage resources, and ensure stakeholder engagement.
  • Monitoring and Controlling:
    • Ensure the project is on track by monitoring progress and making necessary adjustments.
    • Integrated change control: Manage changes across all project areas.

Closing Process

  • Close Project or Phase:
    • Validate deliverables, celebrate success, and complete documentation.

Learning Recommendations

  • Download relevant materials available on the instructor's website.
  • Utilize PMBOK Guide in tandem with practical activities to grasp concepts better.
  • Approach project management not as rigid rules but as fluid processes that can adapt to changing conditions.

Key Takeaways

  • Emphasis on interconnected processes rather than rigid waterfall model.
  • Continuous feedback and adaptation are essential in project management.