Changes in the PMBOK 5th Edition – An important note for PMP Credential holders and PMP Aspirants:

What is New in the PMBOK 5th Edition?

The fifth edition of A Guide to the Project Management Body of Knowledge: (PMBOK® Guide) was published in December of 2012. It is the latest edition of the global project management standard published by the Project Management Institute (PMI)®. The release of this new edition has consequences for anyone who is preparing for the Project Management Professional (PMP) ® exam.

In the 4th Edition of the PMBOK Guide there were 5 process groups and 42 processes. And in the 5th Edition, the number of process groups is same but the processes have been increased to 47.

The major change in this new edition of the PMBOK Guide is an addition of a new Knowledge Area –“Project Stakeholder Management”. In the fourth edition of the PMBOK Guide, this was a part of the Communication Management knowledge area. This new knowledge area has four processes in it.

This change shows that PMI gives importance to stakeholder management and it is very imperative for you to manage them if you want to complete your project successfully.

Five additional processes are as follows:

Four planning processes are added to different knowledge areas (plan scope management, plan schedule management, plan cost management, and plan stakeholder management). These four planning processes bring a consistency to the Project Management knowledge areas. Now, the knowledge areas (that make the Project Management plan) start with a concerned subsidiary plan.

Two communication processes are merged into one process (Distribute Information and Report Performance to Manage Communications).

Two new controlling processes are added (Control Communications and Control Stakeholder Management).

Two processes are relocated to the Stakeholder Management knowledge area.

Some additional changes are as follows:

Verify Scope is changed to Validate Scope.

Administer Procurement is changed to Control Procurement.

Direct and Manage Project Execution is changed to Direct and Manage Project Work.

 

Primavera P6V8.2 key Features

Primavera P6V8.2 is the world’s leading solution for prioritizing, planning, and executing projects, programs and portfolios. It is an integrated Project Portfolio Management (PPM) solution comprising role-specific functionality to match each team member’s needs and responsibilities.

P6 Web client

This tool eliminates the need to load software on to a PC.It is used to manage the EPPM database, functions such as adding users and user access etc. P6 Progress reporter is a time sheet application accessed through a web browser. P6 Team member is a progress update application accessed through a web browser and was extended to provide the ability to update progress via iphone application or email.

New Exclusive Mode You can now open one or more projects exclusively. This enables you to prevent others from updating a project while you run reports, schedule projects, level resources, or take other actions while ensuring the project data do change.

New Location Data

New global enterprise data for locations enable you to create a list of locations, including the street address and the longitude and latitude. If you do not know the longitude and latitude, you can find them if you have geolocation\service connected to P6. You can also find an address based on the longitude and latitude. You can assign locations to projects, resources and activities, and you can report on data by location in P6 Analytics. You can also group, sort, and filter by location in various views. You can also import new locations into P6 from a Microsoft Excel (.xls) file.

New Import/Export Support for Microsoft Project 2010

You can now export P6 projects as Microsoft Project XML 2010 files, as well as import Microsoft Project 2010 files.

Enhanced Scaling Options when Printing                                                          Three new scaling options are available when printing from the Activities, EPS, and Assignments pages.

New Dissolve Activities Support

When you delete an activity, a chain of logical activities might be broken. You can use the new Dissolve option to delete the activity but join the predecessors and successors and create the appropriate relationships between them. The dissolve option is available from the right click menu, Actions menu, and the toolbar of the Activities view when you select a single activity that has both predecessors and successors.

New Copy Issue Forms Support

When you copy projects, create templates, or create projects from templates, issue forms are also copied.

Additional Fields in Predecessor/Successor Tabs

Additional fields are now available in the Predecessor and Successor tabs of the
Activities page to help Project managers better analyze their project schedule. The
new fields are Driving, Critical, Total Float, Free Float, Early Start, Early Finish, Late Start and Late Finish.

Release 8.2 includes the following major features in the web:

  • All administration is now in the web (and not in the client)
  • Schedule checker that performs the  DCMA 14 -point schedule analysis.
  • One dialog for Baseline Management
  • Email links to specific Activity Views
  • Management of all job services now performed from the web
  • Custom toolbars
  • Multi-project resource assignments view (without needing to open projects)
  • Resource assignments Gantt view
  • Users can update their own Personal Calendars and have an ability to synch with other calendar tools
  • Integrated Project Risk Management
  • Web based reporting (BI Publisher is integrated into P6) – reports can be output in different formats, scheduled and distributed via different methods ( printers, file, email, content repository etc.)
  • Integration with Oracle Business Process Management (BPM) for workflows – replaces old workflow approach

Why Is Project Management Important in Today’s Business

Most entrepreneurs are already aware of the dynamic nature of business environment. Every organization, big or small, has to take into account the time, resource allocation, scope and budget required for each project. Only when these factors are well accounted in Project Management, the business will boom and bring good results. So, to effectively meet the dynamic nature of projects, Project Management is a must in business.

In today’s competitive world, delivering quality service or a product is seen as imperative for business survival. If a business fails to show this tendency and repeatedly makes a same mistake again and again, it is certain that it needs a more strategic and flexible approach to survive. It is either through a proper Project Management process or through proper Project Management tool that an organization can become effective.

Also, now-a-days, most clients associated with projects, are very keen to know how their projects are being tackled and developed over time. In fact, some even want to monitor the projects, from the beginning to the end, giving feedback or reviewing each stage. In such cases, Project Management in business becomes more important and managing it through well featured Project Management software is a good option.

Finally, the struggle of many organizations to implement and apply Project Management in business has led to many success stories.

Through Project Management application in business, many organizations are now being able to focus more on project needs by categorizing them into various phases of development, such as project initiation, project planning, defining objectives, project execution and delivery to systematize the entire Project Management process.

Earlier, the most common goal was project completion, rather than fulfilment of needs. Very less emphasis was given on quality standards. But now with more advanced Project Management tools and techniques, things have changed. Many organizations want to have an organized and well structured schedule for entire Project Management process. This has helped businesses build robust clients and deliver quality results.

Project Management is a discipline, which ensures effective communication, collaboration, sharing of progress reports, visibility to expected risk factors for stakeholders of projects. So, Project Management is seen as an essential element for any organization to gain focus on priorities, time constraints, budgets, measurement of performances and become more flexible over time to ensure that all risk factors and errors are rectified correctly.