We are now well into the process of updating materials and writing new questions based on the PMBOK® Guide 5th Edition – From being something new, the book is now becoming increasingly familiar:
- Our daily question has had a 5th Edition for the last 3 months: you can follow the questions on Twitter: see today’s question
- Updates to our CAPM, PMP and PMI-SP courses are planned and under development – our new Mentored Email™ courses will start in late April.
- Our last classroom course based on the 4th Edition will be at the end of May
- The PMI examination change dates are:
– CAPM 1st July
– PMP 1st August
– PMI-SP 1st September
- The initial rush of people interested in buying the 5th Edition has subsided and we are effectively out of stock of the 4th Edition.
Overall as we become more familiar with the 5th Edition we are finding it to be a significant improvement. There are certainly a few issues and problems highlighted in earlier posts in this series (view the full series) but the enhancements significantly outweigh the odd regression.
One of the minor but important improvements is he ranges for cost estimates are back to the industry standards of -25% to +75% for ROM and -5% to +10% for detailed estimates. This pessimistic shift in the ranges more accurately reflects reality.
The rearrangement of the first three chapters is also significant and is aligned with the standards for Program and Portfolio management:
- Chapter 1 sets the scene with:
– definitions of a project and project management,
– discussion of the relationships between project, program and portfolio management, in the context of organizational project management,
– Discussions of the relationship between project management, operations management, strategy and business value
– the role of the project manager.
- Chapter 2 focuses on organisational influences including the influence of project stakeholders and governance on the project team and the overall project lifecycle.
- Chapter 3 looks at project management processes and the structure of the rest of the PMBOK.
The reorganisation of this front section, facilitated in part by the move of the ANSI standard to Annex A1 is probably the quiet achievement in the standard. The section flows far more sensibly and logically than in previous editions.
In conclusion – the quality of the PMBOK® Guide 5th Edition has been enhanced by hundreds of small changes that make the work of transitioning our course materials hard work and will certainly require some hard work from anyone who has to update their exam preparation.
So a word of warning: If you are trained for the current exam make sure you sit before the change over dates – PMI do not have any flexibility in the timing of the system changes!! This includes re-sits. After the change over date, all new exams are based on the new standards.
But once through these changes we certainly have a better book for the next 4 years and the development team deserve congratulations for a job well done.