A Guide to the Project Management Body of Knowledge (PMBOK® Guide)–Fifth Edition reflects the collaboration and knowledge of working project managers and provides the fundamentals of project management as they apply to a wide range of projects. This internationally recognized standard gives project managers the essential tools to practice project management and deliver organizational results.
A tenth Knowledge Area has been added; Project Stakeholder Management expands upon the importance of appropriately engaging project stakeholders in key decisions and activities.
Project data information and information flow have been redefined to bring greater consistency and be more aligned with the Data, Information, Knowledge and Wisdom (DIKW) model used in the field of Knowledge Management
Four new planning processes have been added: Plan Scope Management, Plan Schedule Management, Plan Cost Management and Plan Stakeholder Management: These were created to reinforce the concept that each of the subsidiary plans are integrated through the overall project management plan.
While Lean practices have been successfully implemented into the process industry with excellent results for over 20 years (including the author’s own award winning example at Exxon Chemical), that industry has been especially slow in adopting Lean. Part of the problem is that the process industry needs its own version of Lean. The larger part of the problem is resistance to transformational change, a barrier that can only be overcome with effective leadership and results-oriented planning that engages rather than excludes all stakeholders.More info →