The Project Management Institute (PMI) published the first Project Management Body of Knowledge in 1983 as an attempt to document and standardise generally accepted project management information and practices. The current edition, A Guide to the Project Management Body of Knowledge (PMBOK Guide), Fifth Edition, was released in 2012, and it provides a basic reference for project management.
The guide recognises five basic process groups and nine knowledge areas typical of almost all projects. The basic concepts are applicable to projects, programmes and operations. The five basic process groups are:
- Controlling and Monitoring
The Standard for Programme Management is now in its second edition. It is published by PMI and gives guidance on the management of multiple projects and programmes. It is fully aligned with the PMBOK Guide.
It forms the core basis for PMI’s Program Management Professional (PgMP®) qualification and is recommended reading for those taking the PgMP exam.
PMI, in addition to publishing guidance on managing programmes, has also published guidance on managing portfolios effectively. Currently in its second edition, The Standard for Portfolio Management provides guidance and best practices for managing portfolios effectively. The Standard for Portfolio Management, as with PMI’s other standards, is aligned with PMBOK Guide.
OPM3 (Organisational Project Management Maturity Model) was published by the PMI in 2003. It splits the broad concept of organisational project management into three areas for systematic management: projects, programmes, and portfolios. It recognises that organisations implement their business strategies through projects and that, therefore, project management should be a core business capability.
OPM3 is a body of knowledge about project management best practices, and this body of knowledge enables organisations to improve their current organisational project management maturity. The three interlocking elements of OPM3 (knowledge, assessment and improvement) enable organisations to assess their current state of project management maturity and then to map an improvement path to a higher level of maturity. Model components include best practices, capabilities, outcomes and key performance indicators.
Organisational maturity can provide strategic benefits and a potential competitive advantage. PMI’s OPM3 allows enterprises to examine their project management process capabilities from the project to the portfolio level. OPM3 helps organisations measure their maturity against best practices and plan for improvement.
The PMI was founded in North America in 1969 and has grown to become a global advocate for the project management profession, with more than 240,000 members in over 160 countries. It also has nearly 242,000 credential holders worldwide. PMI’s Project Management Professional (PMP®) certification is the most widely recognised in the profession and was awarded ISO 17024 accreditation in 2007.
There are six levels of PMI credentials available:
- Project Management Professional (PMP), initiated in 1984 to demonstrate to employers, clients and colleagues that project managers possess project management knowledge, experience and skills to bring projects to successful completion.
- Certified Associate in Project Management (CAPM®)for project team members, entry-level project managers, and qualified undergraduate and graduate students to recognise their value to project team performance.
- Program Management Professional (PgMP)recognises the advanced skills and knowledge of programme managers. Being awarded the PgMP certification proves that you are competent in the management of multiple projects and are able to juggle resources to achieve strategic business objectives.
- PMI - Agile Certified Practitioner (PMI-ACP®): this certification demonstrates your knowledge of Agile principles, tools and techniques.
- PMI Risk Management Professional (PMI-RMP®) recognises a project management professional's expertise and competency in assessing and identifying project risks. This qualification mitigates threats and capitalises on opportunities.
- PMI Scheduling Professional (PMI-SP®) is a qualification that has been created by PMI to recognise project management professionals' expertise in the field of project scheduling. Gaining this qualification demonstrates your unique competence in creating and maintaining project schedules. Those with the PMI-SP qualification are still are able to demonstrate the foundation knowledge in project management.