For any profession, the values and principles serves as the guidelines for the professionals. Following these guidelines, the professionals make decisions, strategize and solve the problems under their domain. Project Management Institute (PMI), USA is considered to be the most prestigious body for project management. In the latest edition of Guide to Project Management Body of Knowledge (PMBOK) 7th Edition, the PMI has defined twelve (12) principles of management for people working on projects. The project management principles are aligned with the core values of the project management profession. These principles intend to guide the behavior of people working on projects.
Principles of Project Management
The twelve (12) principles of project management are following.
- Stewardship: Be a diligent, respectful and caring steward.
- Collaborative Teamwork: Create a collaborative project team environment.
- Stakeholders: Effectively engage with stakeholders.
- Value: Focus on Value.
- System Thinking: Recognize, Evaluate, and Respond to system interactions.
- Leadership: Demonstrate leadership behaviors.
- Tailoring: Tailor based on context.
- Quality: Build Quality into processes and deliverables.
- Complexity: Navigate Complexity.
- Risk: Optimize risk responses.
- Adaptability and Resiliency: Embrace adaptability and resiliency.
- Change: Enable Change to achieve the envisioned future state.
These principles provide guidance for each project performance domain.