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New Standard Announced by the Project Management Institute

by Kristin Bent

May 4, 2010

On April 20th, the Project Management Institute announced a new project management standard: The Practice Standard for Project Estimating.

Just as some background: the Project Management Institute provides PMs around the world with standards, or, in other words, professionally agreed-upon documents (submitted by project managers), outlining best practices and guidelines for project initiatives of all shapes and sizes. Standards are divided into five categories: people, projects, programs, people, organizations and professions.

The Practice Standard for Project Estimating is scheduled for release during Q4 of 2010. As the name suggests, this standard offers guidelines for estimating or predicting project scope, timelines, and budget – a theme that generated a lot of interest among the 2010 Managing your SAP Projects survey respondents (great timing!).

To find out more about this standard, or other PMI guidelines, follow: www.pmi.org/AboutUs/Pages/PMI-Members-In...

Until next time!

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