What’s New in the 7th Edition of PMBoK? – ProThoughts

The new PMBoK 7thEdition is quite different from the PMBOK 6thedition. Anything new and exciting is always welcomed and in this rapidly changing world, it is important to remain relevant.
History of PMBOK
Below is a history of PMBOK revisions starting in 1996, when PMBOK Version 1 was released. Project management Institute has been revising the PMBOK version every 3 to 5 years since then. Below is the reason for this periodic revision every 3 to 5 years.
Many professions have seen the evolution of technology change how they work, including project management. Based on feedback from project managers in different industries and around the globe, it was determined that the structure and content could be improved to reflect current working methods. Practitioners now have to identify the best delivery approach (predictive or adaptive, hybrid) to accomplish the task and deliver value. Regular PMBOK(r), Guide updates are required to keep the guide current and meet all the needs of the stakeholders.
PMI had made the exposure draft of PMBOK Edition 7in 2020 available to all active PMI members. This is no longer available after the launch PMBOK 7 on Aug 1, 2021. This was done for multiple reasons:
Make sure to create buzz about the upcoming launch.
Give a candid overview of the new PMBoK, and the direction that project management is heading.
Ask for feedback from experts and practitioners before you launch the final version

PMBOK 7 is available now, before the launch, and can be downloaded by all PMI active members who are paid from PMI Website. It is a concise book of 370 pages that is not meant to replace the PMBOK 6th edition (794 pages). It is a more comprehensive approach that adds value to project management. PMBOK 6th Edition is the foundation of all PMI exams. PMBOK 6 can also be downloaded from the same place on PMI Website mentioned above.

Let’s take a look inside the new PMBOK 7th Edition updates, as well as some behind-the scenes updates.
PMBOK 7th Edition is applicable to all projects at all times, in contrast to earlier versions which were most relevant to most projects most of time.
PMBOK 7 can be divided into 2 sections:

The Standard for Project Management
A Guide to the Project Management Body of Knowledge
The focus is shifting from Creating Deliverables to creating Value (PMBOK Standard)
49 Processes and 5 Process groups to 12 Principles (PMBOK Standard)
10 Knowledge Areas to Eight Performance Domains (PMBOK guide)
600+ ITTOs (Inputs-Tool-Techniques-Outputs) to Models, Methods and Artifacts (PMBOK Guide)
From the simple mention of tailoring, to the creation of a comprehensive tailoring framework (PMBOK guide)

PMIstandards+ – Digital content platform – PMIstandards+: Developed and made available to PMI members to understand and apply all that is discussed in PMBOK 7.

What does Arvind Nahata, ProThoughts expert, have to say about the PMP Exam based upon PMBOK 7th guide & Standards?

PMBOK Standards: Project Management Creates Value
It is important to create VALUE. It is not that it is not important, but projects are intended to create business value. The new edition focuses on Value and links it to the organization’s strategic objectives. This is what projects are meant to accomplish.
In the 7thedition, they are introducing”Value-Based Delivery”in the current changing dynamic world of project management.
This is a set of strategic business goals that are aimed at building, maintaining, and/or improving an organization. The Value-based Delivery system emphasizes the broad application of concepts and practices to create value in a more complex business context.
The synergies among Portfolios, Programs and Projects has been made more clear and clearly in the new edition.

The diagram above clearly shows the relationship between strategy, and various components of Project Management. Projects are based on business outcomes, while Programs should focus on creating benefits from the outcome. Operations, however, should be focused on benefits realization.
The Value Delivery System is further illustrated by the following:

It works within the constraints and contexts of the external and internal environments.
As we can see in the 7thEdition, the change is in the Value Delivery System, which is mainly in the 1st and 2nd chapters. Rest of the information is the same as in the previous sections, which include Roles in Project Management (although they are more detailed), Enterprise Environment Factors, and Organization Process Assets.
PMBOK Standards: 12 Principles for Project Delivery:
7thEdition also introduces the 12 Principles for Delivery, which are very similar to the Agile Principles. Surprisingly, the number is still 12. I