New PMBOK V5 – My Favorite Change So Far

– PMBOK V5 is the new standard from PMI effective 01/01/2013.

I. The 2 BIGGEST changes in PMBOK V5:

• New 10th Knowledge Area: Stakeholder Management
• 4 new planning processes have been added: Plan Scope Management, Plan Schedule Management, Plan Cost Management & Plan Stakeholder Management.

II. My FAVORITE change so far in the new PMBOK V5:  

• Requirements Management Plan – This output is now shown being created in the new process: Plan Scope Management.

In the prior PMBOK V4, this output used to be created in the “Collect Requirements” process.  This was “putting the cart before the horse,” because   planning requirements should come before the requirements are collected.  So it is much more logical the new way in PMBOK V5, where first we plan how to collect and manage the requirements (in the “Plan Scope Management” process) and then later gather the requirements (in the “Collect Requirements” process)

Much better the new way!

III. When will the PMBOK V5 update affect the PMI exams?

• PMP Exam will be updated to the new version July 31, 2013
• CAPM Exam will be updated one month earlier: July 1, 2013
• PMI-SP will be updated August 31, 2013
• PMI-RMP will be updated August 31, 2013
• PgMP Exam will be updated to the new version July 31, 2013
• PMI-ACP — NOT AFFECTED —

You might also like to see:

• My new interview with Soma Bhattacharya in “Stepping Into Project Management”
• 15 reviews so far of my book: “The Project Management Answer Book”
• Seven 2-minute video interviews I did for Sarder TV: “Learning From Authors” series