Portfolios, Programs and Projects – The NEW Definitions in PMBOK 8th Edition

In the value-delivery system of an organization, all 3 Ps – Portfolios, Programs, and Projects – are integral parts. Interestingly, the definitions of all three have changed in the latest PMI-PMBOK Guide, 8th edition. 

Put differently, in the future it will impact all – aspiring Portfolio Management Professionals (PfMP), Program Management Professionals (PgMP), Project Management Professionals (PMP), and Risk Management Professionals (RMP). Do note that it's not immediate, but in the future. 

Definitions are important because they create a clear and shared understanding. Without precise definitions, communication can become confusing or misleading, as people may interpret the same word in different ways. 

In management as in everyday contexts, definitions act as a foundation for learning, discussion, and critical thinking. They help us to organize knowledge, set boundaries for meaning, and ensure that our arguments or explanations are consistent, coherent, clear, and logical. 

In this article, we will explore these concepts in more detail. In organizations, initiatives typically begin at the portfolio level, so we will first examine the definition of a portfolio, followed by those of a program and a project.

Portfolio Definition

Earlier, we had the following definition:

A collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives.

Now, the definition is significantly changed: 

A collection of programs, projects, and operations managed as a group to maximize overall value delivery and achieve strategic objectives, meet mandatory obligations, or generate income streams.

There are a few noticeable differences here:

1. Subsidiary portfolios are no longer mentioned, but in reality, it’ll be there!
2. Overall value maximization is emphasized explicitly.
3. Generation of income streams are introduced for the first time. 
4. In addition, it can be also about meeting mandatory obligations, e.g., legal, regulatory or others.

Above all, the continued focus on achieving strategic business objectives is there.  

The "generation of income streams" part is completely new. In fact, it has been added for the first time. In a portfolio context, an organization might run multiple initiatives that each create different income streams, so they’re not dependent on just one source of revenue.

Let’s take an example. You’re running a set of initiatives in a SaaS (software-as-a-service) start-up to get recurring revenue from software tools. These projects, within a portfolio, are not related, but can have some commonalities such as technology being used and hence, part of a portfolio. 

Program Definition

Earlier, we had the following definition:

A group of related projects, subsidiary programs, and program activities that are managed in a coordinated manner to obtain benefits not available from managing them individually.

Now the definition is changed to: 

A group of related projects and program activities managed in a coordinated manner to obtain benefits not available from managing them individually. 

Here we have one difference:

1. Subsidiary programs are no longer mentioned, but in reality, it’ll be there!

Programs are always about benefits and hence value. In addition, it's coordinated management of program components to deliver benefits. 

Program has a dedicated domain called Benefits Management, where we do benefits analysis, planning, delivery, transition, and finally, sustainment of benefits. The whole idea of having a program is to have coordinated work in order to deliver benefits/value to organization. 

Project Definition

Earlier the definition of the project was:

A temporary endeavor undertaken to create a unique product, service, or result.

Now the definition has changed and it is: 

A temporary initiative in a unique context undertaken to create value.

This is a real change of words here. The differences are:

1. No longer an endeavor, but an initiative.
2. Context has to be unique.

The initiative word confuses many. It need not be the case. 

As I've written here many times at ManagementYogi, an organization's strategic plan is subdivided into a set of organizational initiatives influenced by the market conditions, customer requests, or obligations etc. to be met. 

Next, a number of initiatives are grouped into a portfolio. In other words, a portfolio can contain proposals for various initiatives such as projects, programs, subportfolios, operations etc. It can also encompass already existing projects or programs within an organization. 

In that sense, the definition of a project is perfectly aligned with portfolio and its management. Because a project is indeed is an initiative within a portfolio. 

The other aspect is the uniqueness of context. It’s possible for two projects to involve constructing two identical buildings, but the context can still differ. For example, the location, technology, and resources may vary between these projects. Isn’t that right? 

The most important one is the final aspect of the definition – creation of value. Project is now about creating value by producing tangible and/or intangible deliverables. 

Figurative Representation 

The following figure outlines portfolios, programs, and projects in an organization.

                                 

As shown above, an organization’s vision, mission and strategic objectives are documented in the strategic plan. This plan is subdivided into a set of initiatives. Initiatives are then grouped into portfolios. 

Portfolios of programs and projects in an organization provide the value delivery system. And, as we just learned, all 3 Ps – Portfolios, Programs and Projects – are about creation, enablement and/or maximization of value delivery.

Conclusion

If you've followed my books and/or used my courses, you'll know that I say the following:

Project creates and delivers. Programs coordinates and guides. Portfolio decides and drives.

For more details, check out this article and also Part 2.

By now, you would have noticed that a shift has occurred across all three Ps toward value delivery. I'll change it from the value delivery perspective. 

Project creates and delivers value. Program coordinates to obtain benefits and value. Portfolio maximizes overall value. 

I can also shorten it further and say:

👉 Project creates value. 

👉 Program coordinates benefits/value. 

👉 Portfolio maximizes overall value.

References:

[1] PfMP Live Lessons - Guaranteed Pass or Your Money Back, by ManagementYogi.com

[2] PMP Live Lessons - Guaranteed Pass or Your Money Back, by ManagementYogi.com

[3] RMP Live Lessons - Guaranteed Pass or Your Money Back, by ManagementYogi.com

The Future of Project Management: PMBOK 8th Edition with Artificial Intelligence

 

For years now, the PMP certification introduced by Project Management Institute (PMI) has seen high acceptance and recognition by the project-program-portfolio (PPP) management community. Various agile approaches have seen wide acceptance in the industry. Since the beginning of this decade, practical hybrid-agile certifications such as CHAMP, and practical scaled agile certification such as CIPSA from ManagementYogi, are used by industry professionals and practitioners.

Enter Artificial Intelligence (AI). It’s going to impact us all. In fact, it’s already impacting us. Specifically, Generative AI, or simply, GenAI has a significant impact.

As project management is industry-agnostic and value-focused, AI will naturally play a big role. AI is also no longer specific to a few large organizations supplying AI “electricity” to all, but many small or mid-sized ones, who provide real value with their own “electricity supply.”

Organizations such as MPUG have already taken AI into their operations and are using AI assistants to help members, customers and keen learners.

In this article, we will focus on the new and upcoming PMBOK Guide, 8th edition, a draft edition available in December 2024. AI contents are now deeply involved. This required me to do a complete revisit from the earlier PMBOK Guide and PMP certification. The PMP exam is not yet impacted with new AI content, but it will be, post the final release of the new PMBOK guide.

Let’s start with understanding the fundamentals of AI.

The AI Onion *** UPDATED ***

Like the Scaled Agile Onion which I’ve explained in this article of Scaled Kanban using CIPSA (see here and here), I visualize the layers of AI as a part of the AI Onion. This is shown below.

Understanding these layers briefly will help while going forward in this article.

At a higher level, we have Artificial Intelligence (AI), which has the abilities of machines to carry out functions and demonstrate behavior that usually need the cognitive power and capabilities of humans.

There are many definitions of AI, which are quite convoluted and complex.

I’ll define AI in simple terms as:

“The ability of a machine to demonstrate human-like intelligence.”

Within AI, we have Machine Learning (ML). It’s a subset of AI. The ability to learn, as shown by humans, is key here, as that demonstrates one aspect of intelligence. It involves machine learning with algorithms. The algorithms take a large amount of trained data into ML models.

Then we have Deep Learning (DL), which is a subset of ML. DL uses neutral network layers and structures to recognize images and to have natural language processing (NLP). Deep Learning’s name comes from the layers of neural networks; the more the neural layers, the more powerful the learning is. For example, it has been successful in recognizing images.

Next, we have Generative AI (GenAI), which is part of Large Language Models (LLMs). It’s called “generative”, because it generates things such as text, audio, image, code, and more. The LLMs are trained with vast and diverse data, usually from the internet. GenAI, a subset of LLM, has practical, real-world examples. For example, taking prompts given by humans to generate human understandable text.

GenAI – An Example 

MPUG’s AI assistant on their site is a simple, yet very good example of GenAI. If you are reading this article intently, you can try it right now! I have.

I’ve used it many times to get the needed information. Here is one real use case. 

I asked MPUG’s AI Assistant a few questions:

“What is Scrum? Any course available?”

It gave me a really detailed response and also contact information for more help. Then I asked it to restrict it to 50 words, which it did. This is shown in the above figure.

You can ask this generative pre-trained text transformer (GPT) with a few prompts, and it’ll give you a response with explanations and links, as well as courses offered, and articles published on the topic. To get the right responses from the LLM, you need to have the proper prompts. 

The new PMBOK Guide has information on various layers of the AI Onion, but before that, let’s get into the guide at a high-level by understanding the building blocks such as process groups, performance domains and processes.

As we proceed with this article, I’ll elaborate on the integration of AI with some of these elements of the new PMBOK Guide.

Process Groups *** UPDATED *** 

In the earlier edition of the PMBOK Guide, the process groups were completely removed, but there was a channel for process-group-based implementation.

As I interact with many aspiring PMPs (see here) and RMPs (see here) frequently, the clear re-introduction of process groups will benefit them all. There was massive confusion with the previous edition of the PMBOK guide. Such confusion will be reduced now; learning will be enhanced to get certified, and application, post certification, will be better.

PMI defines a process group as:

“A logical grouping of project management processes to achieve specific project objectives.”

Simply put, a process group is a group of processes. Yes, as simple as that! For example, when we say Planning Process Group, it will have a group of planning processes.

To understand more clearly, you can refer to the below table. 

As you can you see – there was no process group at all in the earlier edition!

In the new PMBOK Guide 8th edition, the number of processes in every process group is listed in the below table. I expect the number of process groups to remain the same in the final released version, though there might be some changes with respect to the naming and number of processes.

As you can see, we have 40 processes, spread across and grouped into five project management process groups.

Performance Domains

Performance domain, as the name suggests, is the domain of performance for the project, e.g., Project Finance Management.

PMI defines a performance domain as follows:

“A performance domain is a group of related activities that are critical for the effective delivery of project outcomes.”

Performance Domains are interdependent and interact with each other. They are also interrelated and will have outcome-focused measures (see here and here).  These performance domains will have various associated processes, which in turn will have inputs, tools and techniques, and outputs (ITTOs).

The new PMBOK now has seven performance domains (PD). Each PD is a specific one and relates to an identified domain of project management.

Taking another example, now we have a PD called Governance. It’s a fresh introduction when compared to earlier editions of the PMBOK Guide.

To have more clarity, you can refer to the below table for a comparison of performance domains between PMBOK7 and PMBOK8. 

New Process Map *** UPDATED ***

The process map in the PMBOK Guide, 8th draft edition, is quite different compared to the earlier editions.

Following are the key points for the new process map:

• Total number of processes = 40
• Every process is part of a process group and performance domain.
• The earlier processes of Project Stakeholder Management and Project Communication Management from PMBOK6 have been combined. It’s called Project Stakeholders PD.
• Certain processes and activities of Project Procurement Management from PMBOK6 have been pulled into the new Project Finance PD.

The process map is very important to know, along with flow of processes, sequencing among processes, and the clear logic of having them in that way.

To be a PMP, these processes, their sequencing, the flow, and interactions should be on your fingertips. In my sessions and courses, I always emphasize it and aspirants remember the logical sequencing with key ITTOs, in just 1 or 2 hours.

An Example

Let’s take an example of Project Governance PD to understand. The processes in the process map, when considered for this PD, are shown below. 

As shown above, for the Governance PD:

• There are 7 processes in total.
• Each process belongs to a process group and of course, the PD as well.
• Each process serves a purpose. For example, the process of Authorize Project Initiation will indeed authorize the initiation of the project, formally assign the project manager, and allocate the resources for the project work.
• Each will have a set of inputs, tools and techniques, and outputs (ITTOs). For example, the Integrate and Align Project Plans process will have the Project Management Plan in the output.
• Each process will have tools and/or techniques for predictive, adaptive and hybrid approaches. For example, the Direct and Manage Project Execution process has a T&T of Daily Coordination Meetings. In a big team, this is equivalent to CIPSA Daily Scrum while using the CIPSA Scrum Framework for a large team.

The process map is crucial not only for your preparation of the PMP exam, but also to understand the vast content of the PMBOK Guide, in a relatively short time.

PMBOK Guide and Artificial Intelligence *** UPDATED ***

With the above understanding of AI, its layers, and the new PMBOK Guide, now let us understand how they are shown in the guide to be working together.

Application # 1: Direct Use of AI as a T&T

First and foremost, many AI-related tools and techniques will be used across the processes elaborated in the PMBOK Guide. Taking an example, there is an explicit T&T called Artificial Intelligence in the Estimate Activity Resources process of Resources performance domain.

Taking another example, Process Automations is now a T&T in the Scope performance domain. Automation is a usage of AI. As the PMBOK guide notes, AI can go further for assistance such as risk analysis and augmentation such as project business case preparation.

Application # 2: Indirect Use of AI in T&Ts

Usage can also be indirect, yet widely applied. For example, the T&T called Project Management Information System or PMIS, can have vast amounts of data on which AI can be applied.

PMIS is used frequently as a T&T in multiple processes across the performance domains. The initial practical example I gave for MPUG-AI, in fact, sources its response from MPUG’s organizational information system.

To reaffirm, PMIS is used in projects as well as both program management and portfolio management (see here).

Application # 3: Real-time Monitoring of Projects

Monitoring is a very important aspect of project management. AI tools can monitor the project progress in real-time against the planned baselines and give alerts for deviations from the baselines. These can help in corrective actions. AI tools can also generate Change Requests for such corrective actions. There are AI tools which provide such capabilities.

Usage # 4: AI in Risk Management

Risk management goes through multiple processes as this practical, hands-on article explains (see here). Post risk identification, AI tools can be used to suggest and/or automate some risk mitigation actions based on programmed rules.

Conclusion and Three Laws

For years, organizations such as MPUG, ManagementYogi, and PMI have played a big role in imparting project management knowledge and skills. These organizations have made enormous contributions to the field through high-quality articles, practical training using tools like Microsoft Project, webinars, newsletters, and a wide range of certification courses. Experts from around the world have contributed to these efforts.

Now, they are bringing AI learning and content to you. Because right now, and in the future, you will have to manage AI projects.

When done rightly and ethically, AI can be a great companion, bringing to mind Asimov’s Three Laws of Robotics, written in 1940s. I first learned about them while watching I, Robot at Kino Cinema in Yokohama Minato Mirai, Japan, back in 2004:

• One, a robot may not injure a human being, or, through inaction, allow a human being to come to harm.
• Two, a robot must obey the orders given it by human beings except where such orders would conflict with the First Law.
• And three, a robot must protect its own existence as long as such protection does not conflict with the First or Second Law. 

Going forward, for every aspiring PMP and project management practitioner, understanding AI won’t just be important – it will be pivotal. A paradigm shift is on the horizon with AI.

To stay ahead of the curve, you need to familiarize yourself with various AI terminologies, ML models, NLP, LLMs and a variety of AI tools and techniques that will shape the future of project management.

--

This article was first published by MPUG on April 29, 2025. This an updated version. 

Unique Certifications:

[1] Scaled Agile Certification Course: Certified In Practical Scaled Agile (CIPSA)

[2] Hybrid-Agile Certification Course: Certified Hybrid-Agile Master Professional (CHAMP)

Other References

[1] Project Management Body of Knowledge (PMBOK) Guide, 8th edition draft, by Project Management Institute (PMI)

[2] PMP Live Lessons – Guaranteed Pass or Your Full Money Back, by ManagementYogi.com

[3] PMP 35 Contact Hours Online – With Money-Back Guarantee, by ManagementYogi.com

Course Comparison: PMP 35 Contact Hours Vs. PMP Live Lessons

   

This is in continuation of the following posts: 

• PMP Live Lessons, Guaranteed Pass Course – PMBOK7 Content Update
• Sample Videos - PMP Live Lessons, Guaranteed Pass (PMBOK7 Update)
• PMP 35 Contact Hours Online Course – PMBOK7 Content Update

After availability of two new courses on Project Management Professional (PMP) exam - PMP 35 Contact Hours Online and PMP Live Lessons, two pertinent questions are these:

1. Which course to go for - PMP 35 Contact Hours or PMP Live Lessons? 
2. What are the differences?

Do note that both these courses are unique and are ONLY such courses in the world. No one gives moneyback guarantee (but everyone claims to give!), without a number of terms and conditions. Both these courses come with full moneyback guarantee. These are simple, direct and upfront moneyback guarantees. 

Both these courses are now being used by aspiring PMI-PMPs around the world, to clear the PMP exam and/or earn the PMP 35 contact hours certificate.

Fundamental Difference

First and foremost, these two courses vary with their goal(s) and objective(s) with the associated motto. 

For PMP 35 Contact Hours, we have:

• Goal: Get the 35 contact hours with complete satisfaction. 
• Objective: Get the 35 PMP contact hours in 6 months.
• Motto: Don’t just get casually trained for 35 contact hours. Understand fully, learn strongly and prepare well for your PMP exam.

For PMP Live Lessons, we have:

• Goal: You clear the PMP exam. 
• Objectives: 1) Get the PMP Contact Hours Certificate. 2) Crack the PMP exam in 6 months.
• Motto: Learn deeply and use it to crack the PMP Exam.

You can see all the sample videos in this playlist:
Sample Video Playlist for PMP Live Lessons - 43 Videos

Sample Video Playlist for PMP Live Lessons (PMBOK7) - 7 Videos

Note: Some videos from the above playlist are also part of PMP 35 Contact Hours Online Course.

With this background, let's see the other main differences.

Other Main Differences

I’ve outlined other main differences in the below two tables. Actually, it’s one table, but I’ve segregated them into two in order to have better visibility and understanding.

The second part of this table is noted below.

*Note* Price Update [2025]:

• For PMP 35 Contact Hours: $85 USD/ Rs 7,649 (6 months access) [details]
• For PMP Live Lessons: $379 USD/ Rs 34,109 (6 months access) [details]

Conclusion

I’ve enabled many PMPs, who have used my book, I Want To Be A PMP and/or Practical PMP with MS Project, Practical PMP with Primavera P6 courses over years to clear the RMP exam. 

Many have succeed with my PMP Live Lessons - Guaranteed Pass course as well as the PMP 35 Contact Hours Online program. 

You can also read various here: PMP Success Stories.

When you purchase the courses, I’m also involved with you throughout your journey. Many providers can’t do that, because they don’t have the subject matter understanding. They are merely course aggregators.

For these two new courses on PMP, I've informed the goals and objectives. I've also outlined other differences. These, I believe, will help you to choose the course of your choice.

With either of these courses, I firmly believe that you:

• Get the best value for your money.
• Will have the content with the latest project management standards, practice guides (e.g., PG2) and the needed books.
• Will understand the content clearly, which boosts your confidence. 

Above all, if you prepare sincerely, you have a fair chance to clear the PMP exam and be a certified PMI-PMP.

PMP Success Stories:

• PMP Success Stories 2020s
• PMP Success Stories 2010s

PMP Live Lessons - Guaranteed Pass:

• PMP Live Lessons – Guaranteed Pass or Your Money Back

PMP 35 Contact Hours Online Course:

• PMP 35 Contact Hours Online: Full Money Back Guarantee

Book  for PMP exam:

• Book for PMP Exam Prep: I Want To Be A PMP

PMP Live Lessons, Guaranteed Pass Course – PMBOK7 Content Update

 

The PMP Live Lessons - Guaranteed Pass Course has been updated with PMBOK7 and Process Group Practice Guide (PG2) content. Previously, the course had seen a big update in 2021 with Agile content from the Agile Practice Guide (APG) and then released a new Exam Content Outline (ECO). 

With this latest update, the course now offers more than 62 hours of video and covers the complete PMBOK7 content. Many professionals have taken this course, successfully cleared the exam, and a few have shared their PMP Live Lessons Success Stories.

It is a truly unique program – one of its kind, worldwide. The course also comes with a full money‑back guarantee tied directly to your exam success. There are no hidden clauses, no fine print, and no “**, conditions apply” disclaimers at the bottom.

Complete course content is available in the below link with the lessons and videos:

https://www.managementyogi.com/p/pmp-live-lessons.html

Why this Big Update?

As shared by many certified PMPs in 2023 and 2024, questions from PMBOK7 were minimal — in fact, quite a few reported that they did not receive a single question from PMBOK7. This year, however, PMBOK7 content has been added. This reflects my sessions with aspiring PMPs, where I emphasize PMBOK7.

Since PMBOK8 is expected to be introduced later in 2026, now is the right time to become familiar with PMBOK7. Like PMBOK7, PMBOK8 will follow a principle‑based approach. There is no need to wait another year to take your PMP exam — start today, prepare early, and earn your PMP.

The ONE and ONLY goal of this course is for you to clear the exam. 

No other provider in the world offers a money‑back guarantee without hidden terms and conditions, often promoted as “guaranteed.” This course is different: the only requirement is that you attempt the PMP exam twice.  

PMP Live Lessons – Guaranteed Pass or Your Money Back Course 

All updates are free for existing customers of this video course.

What’s New – PMP Live Lessons, Guaranteed Pass Course

Many updates, including this major PMBOK7 update, have been introduced over the years. In fact, there have been 27 updates so far — all documented within the course. The primary content is delivered in video format, and I’ve explained 100s of questions along with strategies to solve them quickly, also in video format.

This course now includes several PMBOK7 exercises presented in video format as well.

Following are the highlights of these updates since 2021. 

1. NEW Videos for 12 Project Management Principles (PRs)

In PMBOK7, for the first time, 12 principles of project management have been added. Exhaustive explanations have been given for all the 12 principles.

Each key point associated with the principles has been explained with bulleted points. It also informs how to remember all the 12 principles in a matter of minutes.

2. NEW Videos for 8 Performance Domains (PDs)

PMBOK6 and Process Group Practice Guide (PG2) have knowledge areas (KA), processes, and outputs. PMBOK7 has performance domains (PDs) and outcomes.

Each PD has been explained in a practical way with a number of examples. More importantly, you'll know how all these 8 PDs interact with each other. It also informs how to remember all the principles in a matter of minutes. Yes, minutes! 

3. NEW Videos for Models, Methods and Artifacts (MMAs) 

Models, Methods and Artifacts (MMAs) are applied to the PDs, which are guided by the PRs. A detailed set of videos, including the new MMAs, has been added.

There are also a number of video exercises for MMAs that you can practice and learn from. This will also help you to remember quickly. 

4. NEW Videos for Tailoring 

Tailoring is a dedicated area in PMBOK7. A set of videos has been added for tailoring.

The PRs, PDs, MMAs, and Tailoring are all part of the new lessons: Lesson 16 – PMBOK7 Management. This lesson has:

• Number of videos: 49
• Duration: 5 hours (approx.)
• A number of lesson-end practice questions with answers

The lesson-end practice questions are excluding the full-length question sets.

5. NEW Exercises for Agile/Hybrid Approaches 

A number of exercises have been added for Agile and Hybrid-Agile. Do note that in your PMP exam, at least 50% of the questions will be from Agile/Hybrid. In other words, you need to be thorough in these areas.

These practice exercises – many in video format – will give you the needed practice and depth.

6. NEW set of Videos for Process Interactions

You are expected to get at least 50% of the questions from Domain II – Process. The remaining 50% of the questions will come from Domain I – People and Domain III – Business Environment.

In other words, process-related questions are very important too. Hence, a number of videos have been added for process interactions and how they work together, because most of your questions will be situational in nature.

7. NEW Videos on Risk Management. 

Risk Management is a complicated area to understand. To make things absolutely clear, a number of videos have been added or updated – particularly on the Risk Register and Risk Report.

These are two key artifacts in PMBOK6. They are also important to know considering the Risk Principles, the Complexity Principle, the Uncertainty PD, and the MMAs of PMBOK7.  

8.  UPDATED information in Before, During, and After the PMP Exam. 

This important document is part of the Guaranteed PMP course and contains numerous tips related to the PMP exam.

This document has been updated in line with the changes to the PMP Exam.

9. ONE NEW Question Set for PMBOK7.

This new Question and Answer Set is entirely based on PMBOK7. It is very different from PMBOK6 and PG2.

This Q&A Set will give you sufficient practice and the confidence you need. It contains 50 questions and answers, excluding the lesson-end practice questions.

10. Multiple NEW Flow (Video) Exercises, across PDs, PRs and MMAs.

These are again unique to the PMP Live Lessons course. To truly understand PMBOK, you need to understand how all the elements interact together.

These videos will help you master PMBOK7 content.

11. UPDATED Formulas in the PMP Exam Formula Gold Cards

Formulas in the PMP Gold Cards have been updated, primarily with respect to new formulas and concepts. 

Note: The formula gold cards from this course can be downloaded.

12. UPDATED Preparation Plan for the PMP Live Lessons Course, i.e., how to Prepare with the Course 

This course has had a preparation plan from the very beginning. As new videos and content have been added, this necessitated changes to the Preparation Plan.

The updated plan will be shared with you when you subscribe.

13. UPDATED with a number of yogic tips and revision tips

A number of yogic vision tips and revision tips are spread throughout the new content. Many successful PMPs have found these to be very useful.

As the course has seen continuous updates, several new tips have been added. For the new Lesson: PMBOK7 Management, a number of tips have been shared – again with video explanations. 

14. UPDATED Course Index for PMP Live Lessons

As the course gets updated, the index file is also updated with clear highlighting for both NEW and UPDATED content. 

How Will I Know about the Updates?

The following points clearly inform how to know about the updates.

1. All changes will be clearly communicated to you via E-Mail. 
2. Green color coding will be there for these changes in the communicated mail.
3. All the previous updated mails are part of the PMP Live Lessons course, so that you are clearly aware of the new changes that have happened. 
4. The index file of the course will also be updated as needed, because that gives you a quick view on the new/updated content. This is important and needed by many to check their progress. 
5. A number of tips and revision reminders are also added along the content in the PMP Live Lessons course. They are also clearly highlighted.
6. As a subscriber of this course, you get the highest priority, because I want you to succeed and be a PMP. I’ve put everything that I know so that you succeed.
7. For any clarification or questions on these updates, you can ask your questions. You will surely get a response in a very short timeframe. 
8. As the highest priority customer, the fresh updates will come FIRST to you. And it will be detailed in nature. 
9. As noted earlier, all the new/updated content will be FREE of cost to you.

Conclusion

With these changes, the PMP Live Lessons – Guaranteed Pass course remains aligned with PMBOK7 and Process Group Practice Guide (PG2). 

As far as I am aware, this is the only course of its kind in the world, and it has created many successful PMPs. These are genuine PMPs, not anonymous or fake social media stories. Read the PMP Live Lessons success stories to see how it enabled them to clear the exam.

For the updated index of the PMP Live Lessons video course, refer to the below link (NEW):

Course Index: PMP Live Lessons - Guaranteed Pass

To all the subscribers and learners of this course, I wish the very best in your journey to be a PMP. 

All with PMBOK7 Updates:

PMP LIVE LESSONS - Guaranteed Pass:

• PMP LIVE LESSONS Success Stories
• PMP LIVE LESSONS: Guaranteed Pass or Your Money Back 

PMP 35 Contact Hours Online Course:

• PMP 35 Contact Hours Online: Full Money Back Guarantee

Book  for PMP exam:

• Book for PMP Exam Prep: I Want To Be A PMP

The Shared Language of Stakeholder and Risk Management in the Art of Project Management

 

As I frequently interact with PMP aspirants, I bring this point on the similarities between Stakeholder Management and Risk Management. Few PMPs have written their PMP Success Stories (usually less than 5% write), and they know these differences. Some even have noted the importance of these two knowledge areas:

• Stakeholder Management, and
• Risk Management.

Do note that, in my classes and courses, I've called Stakeholder Management and Communication Management as the Twins. See here for a detailed understanding. 

I've also said Resource Management is the close Sibling of the Stakeholder Management.  Learn more here.

Such terms are mine and I've used it while explaining various such areas for your PMP exam. See here.

In this post, I'm saying that both Stakeholder and Risk Management have a shared language in the Art of Project Management. Like the twins and siblings before, you’d be hearing it for the first time! 

Indeed, the language understanding and similarities in both these management areas is unique. As a management practitioner, you need to know them. So, let's see them one by one.  

Note: If you are preparing for the Portfolio Management Professional (PfMP) exam, it's good to know the below ones. Stakeholder management will be part of Communication Management knowledge area for your PfMP exam. See here. 

1. Identification of Stakeholders and Risks

Stakeholders are identified, so are Risks. Stakeholder identification happens from the very beginning of the project. In fact, the Project Charter (see here) has the initial list of stakeholders and based on it a detailed stakeholder list is prepared.

Risk identification also happens from the very beginning of the project. Like stakeholders, the project charter has high-level information on project risks.

2. Iterative and Integrative Processes

Many think that after a complete identification and assessment has been done, then the process is no longer used. In reality, both stakeholders and risks change throughout the life cycle of the project. 

Stakeholder identification is continuous in nature and it's an iterative process. As and when new stakeholders are identified, they have to be assessed, analyzed and engaged. Risk identification too is a continuous process and is iterative in nature. 

3. Outputs of Stakeholder and Risk Identification

Stakeholder Register is the key output of the stakeholder identification process. In the real-world, it can be a document or a spreadsheet. It'll have identification, assessment information and stakeholder classification such as being internal or external. 

Similarly, Risk Register is the main output of the risk identification process. Again, in the real-world, it's usually a spreadsheet with various risk attributes including the risk id, name, description, probability, impact and risk score. A simple risk register shown below. 

You can learn more here.

4. Outcomes of Stakeholder and Risk Identification

Do note that, I've mentioned outcomes, not outputs. Output is about the end result. Outcome, on the other hand, is about what you actually want to do/have with that end result. 

For example, buying a vehicle is an output of the buying process. But using that vehicle to save time or function more efficiently is the outcome. So, how about the outcomes in Stakeholder and Risk Management?

The stakeholder register is the output. Better stakeholder engagement and stakeholder satisfactions are the outcomes. Similarly, the risk register is the output. On the other hand, credible risk management and optimization of risk responses can be the outcomes.

5. Minimization of Negative Impacts

Here, I'm referring to the minimization of potential negative impacts. 

Stakeholders can be an individual, a group, a community, or even an organization that may affect, be affected by, or perceive to be affected by a project. In other words, they can impact or affect in a positive or negative way. It's the job of the project manager to minimize the negative impact.  

Similarly, the definition of risk (see here) clearly states that a risk can have positive or negative impact on the objectives of the project. Again, it's the job of the project manager to minimize the negative impact of a negative risk (or threat). This is shown below.

6. Maximization of Positive Impacts

This is the reverse of the previous point. I'm referring to the maximization of potential positive impacts. 

Risks can be opportunities as well. Opportunities lead to benefits. In risk management, we try to maximize the positive impact of the opportunities, i.e., we try to increase the probability and/or the impact of the risk. For this purpose, risk responses are employed. See here. 

Similarly, in stakeholder engagement, the focus is to effectively engage stakeholders- especially with high power and interest or influence. This can increase the chance of project success and subsequent outcomes/benefits.  

For example, for the below figure, I've taken two attributes - influence and impact. We want to have the stakeholders to move into high influence (HInf) and high impact (HImp) zone. 

7. Stakeholder Engagement Plan and Risk Management Plan

To manage stakeholders, we create the Stakeholder Engagement Plan (SEP). Similarly, to manage risks, we create the Risk Management Plan (RMP). Both these plans are subsidiary plans of the project management plan.

Both these plans are progressively elaborated and integrated into the consolidated project management plan. 

8. Hidden Stakeholders and Hidden Risks

While stakeholder identification should be exhaustive and continuous, still it's possible that some can remain hidden. Sometimes, these hidden stakeholders, if not identified and engaged, can derail your project. You need to be very careful in such situations.

Similarly, some risks can remain hidden and may not be identified. There are many ways to identify such risks such as assumption analysis, risk analytics, among others. 

9. Stakeholder Attributes and Risk Attributes

Stakeholder attributes such power, interest change. Risk attributes such as probability and impact also change. These are rarely static.

As they change, you’ve to adjust your plans and documents to reflect the changes. For example, a neutral stakeholder can become supportive or resistant over time. In such cases, the engagement strategy has to change.

Similarly, a risk with high probability and high impact can become low probability and medium impact over time. This results in reduction in risk score and the risk could move into the Watch-List. 

10. Obsolete Risks and Dormant Stakeholders

Risks are not always active and primary ones. They can be:

• Obsolete
• Dormant
• Secondary
• Residual, among others.

When a risk becomes obsolete, they are no longer tracked and are usually marked as closed in the risk register. These can later become part of the organization's archives and can be revisited when needed. 

Similarly, stakeholders are not always active and/or primary. As noted earlier, stakeholders' power, influence, interest etc. change over time during the project life cycle. Some stakeholders get passive or even dormant. You need not actively engage with these stakeholders.

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Want to know more? Consider being a subscriber to the PMP Live Lessons course. 

With it, you'll learn more. Considering the similarities in  the language, here are a few more: 

• Stakeholders are prioritized, so are risks. 
• Stakeholders are analyzed. Risk are also analyzed.
• Stakeholder engagement levels are monitored; risks are also monitored. 

A number of PMPs have used this course to get certified. You can be a PMP too. More importantly, you'll know various areas of project management, which no one can or will be able to tell you. 

References

[1] PMP Live Lessons – Guaranteed Pass or Your Full Money-Back, by Satya Narayan Dash

[2] PMP 35 Contact Hours Online Course, Full Money-Back Guarantee, by Satya Narayan Dash

[3] Book, I Want To Be A PMP – The plain and simple way, Second Edition, by Satya Narayan Dash

Webinar: Upcoming PMBOK 8th Edition and Artificial Intelligence (AI) – A Comprehensive Introduction

 

In two articles written in early January, 2025, I’ve briefly outlined how Artificial Intelligence has been introduced into the new and upcoming PMBOK Guide, 8th edition. Currently, the PMBOK Guide, 8th Edition is in draft form and was made available for public comment in December, 2024.

Artificial Intelligence and its usage in project management are beginning to take shape. A number of small to large AI projects are being launched. It's not just by large organizations that will provide the AI “electricity” for everyone, similar to cloud computing.

Rather, as I’ve observed and experienced with various AI tools, mostly large language models (LLMs), AI will also be powered by smaller companies that have their own AI “electricity supply.” I’ve noted it in another recent article on the upcoming PMBOK guide, 8th edition and AI. 

In AI projects, project managers will play an important role. Many areas of project management such as schedule management, cost management, risk management, and resource management etc. can benefit from the support of AI.

The Project Management Body of Knowledge or the PMBOK Guide from the Project Management Institute is one of most widely used guides for project management. If you are a PMP, an aspiring PMP or a project management practitioner, this upcoming event on April 30, 2025, is a must-attend.

In the PMBOK Guide, you not only have Artificial Intelligence as a specific tool and technique (AI) but also related ones.

In my upcoming webinar, we are going to cover many aspects of PMBOK and will see the entry of AI into the guide. It’ll be a comprehensive introduction. This will be conducted by Master Projects for Unlimited Growth (MPUG). 

Join us in this webinar to know more on PMBOK Guide, 8th edition and its integration with AI related content.

The links are noted below. Registration is closed. 

Webinar: The New PMBOK Guide and Artificial Intelligence – A Comprehensive Introduction

• Date: April 30, 2025
• Time: 12:00 PM - 1:00 PM EST/EDT, US
               09:30 PM - 10:30 PM, IST, India
• Duration: 1 hour (60 minutes)
• Registration: https://mpug.com/event/the-new-pmbok-guide-and-artificial-intelligence-an-introduction/

You will learn the followings:

• The Upcoming PMBOK Guide, 8th edition - What's New?
• PMBOK Guide, 8th Edition – Principles 
• PMBOK Guide, 8th Edition – Performance Domains
• PMBOK Guide, 8th Edition – Process Groups
• The New Process Map in the PMBOK
• Artificial Intelligence (AI)
• PMBOK and AI - How do they fit together?

It’ll have face-to-face question and answer (Q&A) session. 

Quick Note: The image at the top-left of this teaser was generated by an AI model using a recent photo of mine. The model created the image in the Ghibli style.

Join us for this webinar on the PMBOK Guide, 8th Edition and Artificial Intelligence. It's the first such webinar in the world.

References

[1] The New PMBOK Guide – 8th Edition, Project Management and Artificial Intelligence, by MPUG.com 

[2] Project Management Body of Knowledge (PMBOK) Guide, 8th edition draft, by Project Management Institute (PMI)

[3] Article: PMBOK8 – First View and Analysis: Process Groups, Performance Domains and Addition of Artificial Intelligence (AI), by ManagementYogi.com

[4] Article: PMBOK8 – First View and Analysis on Agile, Hybrid and More of Artificial Intelligence (AI), by ManagementYogi.com