About this Video

• Video Title: The PMBOK Guide Seventh Edition - First Impressions | Episode 470
• Channel: CorneliusFichtner
• Speakers: Cornelius Fichtner
• Duration: 00:57:34

Introduction

This video provides Cornelius Fichtner's initial impressions of the PMBOK Guide 7th edition. He focuses on the shift from a process-oriented to a principles-based approach, explaining the new structure, principles, and performance domains. He also addresses how this change impacts the PMP exam and preparation.

Key Takeaways

• Principles-based shift: The PMBOK Guide 7th edition moves away from process-oriented (how) to principles-based (what) project management.
• 12 Principles & 8 Domains: The 7th edition introduces 12 project management principles and 8 project performance domains, replacing the previous process groups and knowledge areas. These are intended to be high-level guidelines.
• PMI Standards Plus: Detailed process information previously in the PMBOK Guide is now housed on PMI Standards Plus, a digital platform available to PMI members.
• PMP Exam Impact: The PMP exam is not a direct test of the PMBOK Guide but uses it (along with 9 other resources) as a reference for correct answers, based on the exam content outline. The 6th edition remains relevant for 2021 exams.
• Tailoring Emphasis: The 7th edition stresses tailoring project management approaches to specific organizational and project needs.

Based on the transcript, a system for value delivery refers to how an organization is structured to manage projects and deliver value. It encompasses the organization's structure (projects, programs, portfolios), how projects are managed, and ultimately, how the project's output contributes to a larger organizational outcome and creates value for the customer. The system includes operations as well as projects.

The transcript lists these 12 principles from the PMBOK Guide 7th edition:

1. Be a diligent, respectful, and caring steward.
2. Create a collaborative project team environment.
3. Effectively engage with stakeholders.
4. Focus on value.
5. Recognize, evaluate, and respond to system interactions.
6. Demonstrate leadership behaviors.
7. Tailor based on context.
8. Build quality into processes and deliverables.
9. Navigate complexity.
10. Optimize risk responses.
11. Embrace adaptability and resilience.
12. Enable change to achieve the envisioned future state.