Project Management Institute Explained

Project Management Institute, Inc.
Type:Professional Organization
Formation:1969
Location:Newtown Square, Pennsylvania, United States
Key People:Pierre Le Manh, President and CEO[1]
Region Served:Worldwide
Purpose:Project management
Services:Certification, Industry standards, Conferences, Publications
Revenue:$343.21 million (2021)
Expenses:$278.55 million (2021)
Volunteers:14,000 (2021)
Staff:721 (2022 Q2)
Membership:680,000+ (2021)[2]
Footnotes:[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]

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.

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)., 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:[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

Notes and References

  1. Web site: Project Management Institute Names Pierre Le Manh As New President & Chief Executive Officer . HRTech Specialist . Aug 23, 2022 . 15 December 2022.
  2. Web site: September 2021 PMI Fact File Stats.
  3. Web site: 2020 Annual Report . Project Management Institute . Project Management Institute, Inc. . 8 November 2021.
  4. Book: Wickwire, Jon M.. 2002. Construction Scheduling: Preparation, Liability, and Claims. 289. etal.
  5. Book: Van Bon, Jan. 2006. Frameworks for IT Management. Van Haren Publishing. 90-77212-90-6. 206.
  6. Web site: Project Management Institute Commends ISO 21500 Standard for Alignment with PMBOK Guide . Pmi.org . September 6, 2012 . 2014-06-05.
  7. 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. 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. 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. Web site: Project Management Institute Names Pierre Le Manh As New President & Chief Executive Officer . HRTech Specialist . Aug 23, 2022 . 30 December 2022.
  12. . May 2020. PMI Fact File. PMI Today. Project Management Institute. 4. 20 July 2020.
  13. Web site: the World's Leading Professional Association for Project Management . PMI . 2014-06-05.
  14. Web site: Certifications | PMI. www.pmi.org.
  15. https://www.pmi.org/-/media/pmi/documents/public/pdf/about/press-media/list-of-marks.pdf
  16. Web site: PMI Micro-Credentials . 20 May 2024.
  17. Web site: Foundational Standards. www.pmi.org.
  18. Web site: Practice Standards and Frameworks. www.pmi.org.
  19. Web site: Practice Guides for PMI Standards. www.pmi.org.
  20. Web site: PMBOK® Guide. www.pmi.org.
  21. Web site: The Standard for Program Management – Fourth Edition. www.pmi.org.
  22. Web site: The Standard for Portfolio Management – Fourth Edition. www.pmi.org.
  23. Web site: The Standard for Earned Value Management. www.pmi.org.
  24. Web site: The Standard for Risk Management in Portfolios, Programs, and Projects| PMI. www.pmi.org.
  25. Web site: The Standard for Organizational Project Management | PMI. www.pmi.org.
  26. Web site: The PMI Guide to Business Analysis. www.pmi.org.
  27. Web site: Practice Standard for Project Estimating - Second Edition. www.pmi.org.
  28. Web site: Practice Standard for Scheduling. www.pmi.org.
  29. Web site: Practice Standard for Work Breakdown Structures. www.pmi.org.
  30. Web site: Practice Standard for Project Configuration Management. www.pmi.org.
  31. Web site: Project Manager Competency Development Framework. www.pmi.org.
  32. Web site: Benefits Realization Management Practice Guide | PMI. www.pmi.org.
  33. Web site: Agile Practice Guide.
  34. Web site: Requirements Management Practice Guide | PMI.
  35. Web site: Governance of Portfolios, Programs, and Projects | PMI.
  36. Web site: Business Analysis Practice Guide | PMI.
  37. Web site: Navigating Complexity Practice Guide | PMI.
  38. Web site: Managing Change Practice Guide | PMI.
  39. Web site: PMI Lexicon of Project Management Terms. www.pmi.org.
  40. Web site: Awards | Project Management Institute.

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