Project Management Institute

Last updated

Project Management Institute, Inc.
Formation1969
TypeProfessional Organization
PurposeProject management
Location
Coordinates 39°58′40.3674″N75°25′7.4352″W / 39.977879833°N 75.418732000°W / 39.977879833; -75.418732000
Region served
Worldwide
ServicesCertification, Industry standards, Conferences, Publications
Membership680,000+ (2021) [1]
Key people
Pierre Le Manh, President and CEO [2]
RevenueIncrease2.svg $343.21 million (2021)
ExpensesIncrease2.svg $278.55 million (2021)
Staff721 (2022 Q2)
Volunteers14,000 (2021)
Website pmi.org
[3]

The Project Management Institute (PMI, legally Project Management Institute, Inc.) is a U.S.-based not-for-profit professional organization for project management. [4]

Contents

Overview

PMI serves more than five million professionals including over 680,000 members in 217 countries and territories around the world, with 304 chapters and 14,000 volunteers serving local members in over 180 countries.

Its services include the development of standards, research, education, publication, networking opportunities in local chapters, hosting conferences and training seminars, and providing accreditation in project management.

PMI has recruited volunteers to create industry standards, such as "A Guide to the Project Management Body of Knowledge", which has been recognized by the American National Standards Institute (ANSI). [5] In 2012 ISO adapted the project management processes from the PMBOK Guide 4th edition. [6]

History

In the 1960s project management as such began to be used in the US aerospace, construction, and defense industries. [7] The Project Management Institute was founded by Ned Engman (McDonnell Douglas Automation), James Snyder, Susan Gallagher (SmithKline & French Laboratories), Eric Jenett (Brown & Root), and J Gordon Davis (Georgia Institute of Technology) at the Georgia Institute of Technology [8] in 1969 as a nonprofit organization. It was incorporated in the state of Pennsylvania in the same year. PMI described its objectives in 1975 as to "foster recognition of the need for professionalism in project management; provide a forum for the free exchange of project management problems, solutions, and applications; coordinate industrial and academic research efforts; develop common terminology and techniques to improve communications; provide an interface between users and suppliers of hardware and software systems; and to provide guidelines for instruction and career development in the field of project management." [9]

In the 1970s standardization efforts represented 10 to 15 percent of the institute's efforts. The functions were performed through the Professional Liaison Committee which called on and coordinated with the Technology, Research Policy, and Education Committees. The institute participated in national activities through the American National Standards Committee XK 36.3 and internationally, through liaison with an appointed observer to Europe's International Project Management Association, then called INTERNET. [7] PMI did not deal with the US federal government directly; several members were federal employees in agencies involved with project management. [9]

In the 1980s, efforts were made to standardize project management procedures and approaches. The PMI produced the first Project Management Body of Knowledge (PMBOK) in 1996. [7]

In the late 1990s, Virgil R. Carter became president of the PMI. [10] In 2002 Carter was succeeded by Gregory Balestrero, who directed the institute until his retirement in January 2011. He was succeeded as President and CEO by Mark A. Langley. From March 2019 through December 2021 the president and CEO was Sunil Prashara. Pierre Le Manh was appointed CEO on September 1, 2022. [11]

Certifications

Launched in 1984, PMI's first credential was the PMP. It has since become a de facto standard certification in project management. In 2007 it earned the ANSI/ISO/IEC 17024 accreditation from the International Organization for Standardization (ISO). As of May 2020, over one million people held the PMP credential. [12]

PMI later introduced other certifications. Credential holders do not have to be members of PMI.

To initially obtain a PMI credential, candidates must first document that they have met the required education and experience requirements. They must then pass an examination consisting of multiple-choice questions. To maintain most PMI credentials, holders must earn Professional Development Units (PDUs), which can be earned in a variety of ways such as taking classes, attending PMI global congresses, contributing to professional research, or writing and publishing papers on the subject. Most credentials must be renewed every three years. These are the certifications and credentials offered by PMI: [13] [14]

PMI also provided a Certified OPM3 Professional credential which was officially discontinued on March 1, 2017. PMI no longer allows the use of the credential's designation by individuals who formerly obtained it. OPM3, even though no longer neither a credential nor a publication, remains a registered mark of PMI. [15]

Micro-Credentials

List of PMI Micro-Credentials - subject to change: [16]

Standards

The standards PMI develops and publishes fall into three main categories:

Here is a list of the current standards or guides in each category:

Foundational Standards

Practice Standards and Frameworks

Practice Guides

PMI Lexicon of Project Management Terms [39]

While not a standard, framework, or practice guide, the PMI Lexicon of Project Management Terms offers clear and concise definitions for nearly 200 of the profession's frequently used terms. Definitions in the Lexicon were developed by volunteer experts, and PMI standards committees are chartered to use the Lexicon terms without modification. Version 3.2 contains numerous revised terms based on requests from the 2017 foundational standard committees.

Awards

PMI honors project management excellence in various categories, e.g.: project professionals, organizations, scholars, authors, and continuing professional education providers. [40]

See also

Related Research Articles

Earned value management (EVM), earned value project management, or earned value performance management (EVPM) is a project management technique for measuring project performance and progress in an objective manner.

Project management is the process of supervising the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time and budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet predefined objectives.

<span class="mw-page-title-main">Work breakdown structure</span> A deliverable-orientated breakdown of a project into smaller components.

A work-breakdown structure (WBS) in project management and systems engineering is a deliverable-oriented breakdown of a project into smaller components. A work breakdown structure is a key project management element that organizes the team's work into manageable sections. The Project Management Body of Knowledge defines the work-breakdown structure as a "hierarchical decomposition of the total scope of work to be carried out by the project team to accomplish the project objectives and create the required deliverables."

<span class="mw-page-title-main">Project Management Body of Knowledge</span> Body of knowledge for project management

The Project Management Body of Knowledge (PMBOK) is a set of standard terminology and guidelines for project management. The body of knowledge evolves over time and is presented in A Guide to the Project Management Body of Knowledge, a book whose seventh edition was released in 2021. This document results from work overseen by the Project Management Institute (PMI), which offers the CAPM and PMP certifications.

<span class="mw-page-title-main">Project manager</span> Professional in the field of project management

A project manager is a professional in the field of project management. Project managers have the responsibility of the planning, procurement and execution of a project, in any undertaking that has a defined scope, defined start and a defined finish; regardless of industry. Project managers are first point of contact for any issues or discrepancies arising from within the heads of various departments in an organization before the problem escalates to higher authorities, as project representative.

Program management deals with overseeing a group or several projects that align with a company’s organizational strategy, goals, and mission. These projects, are intended to improve an organization's performance. Program management is distinct from project management.

<span class="mw-page-title-main">PRINCE2</span> Project management method

PRINCE2 is a structured project management method and practitioner certification programme. PRINCE2 emphasises dividing projects into manageable and controllable stages.

Project stakeholders are persons or entities who have an interest in a specific project. According to the Project Management Institute (PMI), the term project stakeholder refers to "an individual, group, or organization, who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project, program, or portfolio. ISO 21500 uses a similar definition.

In organizational studies, resource management is the efficient and effective development of an organization's resources when they are needed. Such resources may include the financial resources, inventory, human skills, production resources, or information technology (IT) and natural resources.

Project Management Professional (PMP) is an internationally recognized professional designation offered by the Project Management Institute (PMI). As of 31 July 2020, there are 1,036,368 active PMP-certified individuals and 314 chartered chapters across 214 countries and territories worldwide.

A project management office is a group or department within a business, government agency, or enterprise that defines and maintains standards for project management within the organization. The PMO strives to standardize and introduce economies of repetition in the execution of projects. The PMO is the source of documentation, guidance, and metrics on the practice of project management and execution.

Agile management is the application of the principles of Agile software development and Lean Management to various team and project management processes, particularly product development. Following the appearance of The Manifesto for Agile Software Development in 2001, organizations discovered the need for agile technique to spread into other areas of activity, including team and project management. This gave way to the creation of practices that built upon the core principles of Agile software development while engaging with more of the organizational structure, such as the Scaled agile framework (SAFe).

PMHUB is a free virtual community of professional project managers who recognise the Project Management Institute's Project Management Body of Knowledge project management standard. Whilst a number of the members have already earned their PMP certification the majority of the community consists of those who aspire to become PMP or CAPM-certified.

A stand-up meeting (stum) is a meeting in which attendees typically participate while standing. The discomfort of standing for long periods is intended to keep the meetings short.

Organizational Project Management is defined as the execution of an organization's strategies through projects by combining the systems of portfolio management, program management, and project management. This definition was approved by a team of hundreds of professionals from 35 countries and was published as part of the Project Management Institute's (PMI's) Organizational Project Management Maturity Model standard in 2003 and updated later to a second edition in 2008 when it also became an ANSI standard. The standard was updated to a third edition in 2013. The term "Organizational Project Management" should be capitalized because the term is a conventional designation for exactly the systems of processes elaborated in ANSI/PMI 08-004-2008, because it is a proper name for that system and that system is definitive and regimented in its application, and because it does not denote generically any project management that is done in organizations.

Certified Associate in Project Management (CAPM) is a credential offered by the Project Management Institute (PMI).

Project Cost Management (PCM) is the dimension of project management which aims to ensure that a project is completed within its approved budget. It encompasses several specific project management activities including estimating, job controls, field data collection, scheduling, accounting and design, and uses technology to measure cost and productivity through the full life-cycle of enterprise level projects.

<span class="mw-page-title-main">Max Wideman</span> British civil engineer (born 1927)

Robert Max Wideman is a British project management consultant. He is the creator of the first edition of A Guide to the Project Management Body of Knowledge, the Project Management Institute's foundational book on the process of project management. Wideman is also well known for his free comprehensive project management knowledge web site. that contains over 12,500 pages, 550 Issacons, and 280,000 links.

The following outline is provided as an overview of and topical guide to project management:

ISO 21500, Guidance on Project Management, is an international standard developed by the International Organization for Standardization, or ISO starting in 2007 and released in 2012. It was intended to provide generic guidance, explain core principles and what constitutes good practice in project management. The ISO technical committee dealing with project management, ISO/PC 236 was held by the American National Standards Institute (ANSI) which had approved four standards that used Project Management Institute (PMI) materials, one of which was ANSI/PMI 99-001-2008, A Guide to the Project Management Body of Knowledge - 4th Edition.

References

PD-icon.svg This article incorporates public domain material from the National Institute of Standards and Technology

  1. ↑ "September 2021 PMI Fact File Stats".
  2. ↑ "Project Management Institute Names Pierre Le Manh As New President & Chief Executive Officer". HRTech Specialist. August 23, 2022. Retrieved December 15, 2022.
  3. ↑ "2020 Annual Report". Project Management Institute. Project Management Institute, Inc. Retrieved November 8, 2021.
  4. ↑ Wickwire, Jon M.; et al. (2002). Construction Scheduling: Preparation, Liability, and Claims. p. 289.
  5. ↑ Van Bon, Jan (2006). Frameworks for IT Management. Van Haren Publishing. p. 206. ISBN   90-77212-90-6.
  6. ↑ "Project Management Institute Commends ISO 21500 Standard for Alignment with PMBOK Guide". Pmi.org. September 6, 2012. Retrieved June 5, 2014.
  7. 1 2 3 Patrick L. Healy (1997) Project Management: Getting the Job Done on Time and in Budget.
  8. ↑ Michele Sliger and Stacia Broderick (2008). The Software Project Manager's Bridge to Agility. Addison-Wesley. ISBN   0321502752 p.26: The five people, who founded the Project Management Institute were James Snyder, Gordon Davis, Eric Jennett, A.E. Engman, and Susan C. Gallagher.
  9. 1 2 Sophie J. Chumas & Joan E. Hartman (1975) Directory of United States standardization activities NBS Special Publication 417. p. 141
  10. ↑ "ASME names new executive director" in: ASME news, May 2002.
  11. ↑ "Project Management Institute Names Pierre Le Manh As New President & Chief Executive Officer". HRTech Specialist. August 23, 2022. Retrieved December 30, 2022.
  12. ↑ "PMI Fact File". PMI Today. Project Management Institute: 4. May 2020. Retrieved July 20, 2020.
  13. ↑ "the World's Leading Professional Association for Project Management". PMI. Retrieved June 5, 2014.
  14. ↑ "Certifications | PMI". www.pmi.org.
  15. ↑ "PMI Advertising Policy - list of marks" (PDF). Project Management Institute. February 2022. Archived (PDF) from the original on July 16, 2024. Retrieved December 10, 2024.
  16. ↑ "PMI Micro-Credentials" . Retrieved May 20, 2024.
  17. ↑ "Foundational Standards". www.pmi.org.
  18. ↑ "Practice Standards and Frameworks". www.pmi.org.
  19. ↑ "Practice Guides for PMI Standards". www.pmi.org.
  20. ↑ "PMBOK® Guide". www.pmi.org.
  21. ↑ "The Standard for Program Management – Fourth Edition". www.pmi.org.
  22. ↑ "The Standard for Portfolio Management – Fourth Edition". www.pmi.org.
  23. ↑ "The Standard for Earned Value Management". www.pmi.org.
  24. ↑ "The Standard for Risk Management in Portfolios, Programs, and Projects| PMI". www.pmi.org.
  25. ↑ "The Standard for Organizational Project Management | PMI". www.pmi.org.
  26. ↑ "The PMI Guide to Business Analysis". www.pmi.org.
  27. ↑ "Practice Standard for Project Estimating - Second Edition". www.pmi.org.
  28. ↑ "Practice Standard for Scheduling". www.pmi.org.
  29. ↑ "Practice Standard for Work Breakdown Structures". www.pmi.org.
  30. ↑ "Practice Standard for Project Configuration Management". www.pmi.org.
  31. ↑ "Project Manager Competency Development Framework". www.pmi.org.
  32. ↑ "Benefits Realization Management Practice Guide | PMI". www.pmi.org.
  33. ↑ "Agile Practice Guide".
  34. ↑ "Requirements Management Practice Guide | PMI".
  35. ↑ "Governance of Portfolios, Programs, and Projects | PMI".
  36. ↑ "Business Analysis Practice Guide | PMI".
  37. ↑ "Navigating Complexity Practice Guide | PMI".
  38. ↑ "Managing Change Practice Guide | PMI".
  39. ↑ "PMI Lexicon of Project Management Terms". www.pmi.org.
  40. ↑ "Awards | Project Management Institute".
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