It took a bit longer to go through this, but here they are, all the terms that have been added to the 5th edition of the Project Management Body of Knowledge, 5th edition. There are some interesting terms in it, terms that we would have thought were already part of the project management world but that had not been added officially. And who would have thought that Emotional Intelligence finally made it into the PMBOK? 238 new terms while some terms also had to leave our beloved PMBOK. Schedule Activity had to leave the PMBOK already in the 4th edition, but what has S-Curve done to the project world that it did not make it into the 5th edition? [Read more…] about All new terms of the PMBOK 5th edition
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Scope Baseline
Scope baseline is referred to as the approved version of a scope statement, work breakdown structure (WBS), and its associated WBS dictionary, that can be changed only through formal change control procedures and is used as a basis for comparison. Project management plan is the document that describes how he project will be executed, monitored, and controlled.
It integrates and consolidates all of the subsidiary plans and baselines from the planning processes including scope baseline, along with schedule baseline and cost baseline. When closing the project, the project manager reviews all prior information from the previous phase closures to ensure that all project work is completed and that the project has met its objectives. Since project scope is measured against the project management, the project manager reviews the scope baseline to ensure completion before considering the project closed.
Control scope is the process of monitoring the status of the project and product scope and managing changes to the scope baseline. The key benefit of this process is that it allows the scope baseline to be maintained throughout the project. The scope baseline is compared to actual results to determine if a change, corrective action, or preventive action is necessary.
This term is defined in the 5th edition of the PMBOK.
Variation
Variation is a common concept in project management. It is considered as one of the major uncertainties project managers need to monitor as well as deal with all the time. It is defined as the actual condition that is entirely different from the expected condition. The expected condition is usually contained within a baseline plan.
Variations can exist within the project in costs, activity durations, performance level and amount of resources available. Although different types of variations exist, the project plan still remains intact but the variation of the schedule or project can somehow affect the delivery of the project team.
In the context of project management, a lot of variations exists particularly in the quality of the project or deliverables that can affect customer satisfaction. This is the reason why variation needs to be measured. In project management, the Quality Metrics measure the allowable variations of the product, service and result. There are many statistical methods that are available to monitor the variations that exist within a particular project. Examples include control charts, sensitivity analysis, and many other analytical techniques.
This term is defined in the 5th edition of the PMBOK.
Risk Reassessment
Risk reassessment in project management involves identifying new risks and reassessing current ones. It is also involved in closing risks that are outdated and no longer threatening to the project.
This particular project management tool is used in controlling the risks. Regularly creating a schedule for the risk reassessment to determine the kinds of risks present within the project can help project managers identify and control the risks. The number of repetitions of the reassessment also depends on the progress of the project in relation to its objectives.
Most of the work involved in controlling risk is risk reassessment. The project manager needs to have a list of the risk register to be thoroughly reviewed by the risk management team.
There are common actions taken during this particular risk management process. Identifying new risks and analyzing their impact on the project is an important action. This will help the organization develop a risk response plan to mitigate the effects of the risk. It is also involved in identifying risk triggers that have occurred to help develop a contingency plan.
Keeping an updated risk register is an important element in risk reassessment.
This term is defined in the 5th edition of the PMBOK.
Plan Communications Management
The Plan Communications Management is a project management process that is involved in the development of the necessary approach for the project communication based on the needs and requirements pertaining to information. It is also based on the available organizational asset of the program.
This particular process is under the Project Communications Management. The benefit of this particular project management process is that it helps to identify and document the plans, approaches or strategies in communicating effectively with the stakeholders.
To create the Plan Communications Management, necessary inputs are needed such as the project management plan, organizational process assets, and enterprise environmental factors. The project manager also needs to get the stakeholder register to know who the stakeholders are.
It is important to take note that this project management process can be iterated as long as it is triggered by the Control Communications process. This means that this process has a continuous nature and can be triggered by the comparison of the actual and planned schedule, cost, and quality. Lastly, it is crucial for the project manager to evaluate the information to ensure that the right message is delivered to the stakeholders.
This term is defined in the 5th edition of the PMBOK.