In a recent post, I talked about the updates PMI has included in new PMOBK Standard Version (5th Edition): New PMI Standards of Project Management Updates- 5th edition of PMBOK
I want to share with you, also, the main changes, they have added to Portofolio and Program Management Standards.
The Standard for Program Management—Third Edition includes:
- Program Life Cycle has been assigned its own chapter for the third edition to provide the details of the unique set of elements that makes up the program management phase.
- The third edition highlights the full scope of program management and clarifies the supporting processes that complete the delivery of programs in the organizational setting.
- A more detailed definition of program management within an organization is provided, including the fundamental differences between project management and program management.
And The Standard for Portfolio Management – Third Edition includes:
- Three Knowledge Areas were added to address Portfolio Strategic Management, Portfolio Performance Management, and Portfolio Communication Management.
- The Defining Process Group was added to address defining processes
- The Authorizing and Controlling Process Group replaced the Monitoring and Controlling Process Group.