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Project Management Institute

Founded	1969
Type	Professional Organization
Focus	Project Management
Area served	Worldwide
Method	Certification, Industry standards, Conferences, Publications
Members	285,000+
Key people	Gregory Balestrero, President and CEO
Revenue	84.4 MM (budget 2007)
Employees	51-200 employees
Website	www.pmi.org

The Project Management Institute (PMI) is a non-profit professional organization with the purpose of advancing the state-of-the-art of project management. The company is a professional association for the project management profession.

Overview

The Project Management Institute Inc. (PMI) sets standards, conducts research, and provides education and professional exchange opportunities designed to strengthen and further establish professionalism. This institute provides services to advance the careers of practitioners and enhance the performance of business and other organizations. This is done by hosting conferences and training seminars, and by running and maintaining credentials in project management:

• the Program Management Professional (PgMP).
• the Project Management Professional (PMP),
• the PMI Scheduling Professional (PMI-SP),
• the PMI Risk Management Professional (PMI-RMP),
• the Certified Associate in Project Management (CAPM), and
• the Organizational Project Management Maturity Model Certified Consultant (OPM3-CC).

To serve its members and the profession, 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). PMI also issues several professional certifications, produces industry and research publications, offers involvement in local chapters and holds four conferences, called “global congresses” around the world each year.

History

The Project Management Institute was founded in 1969 at the Georgia Institute of Technology by five volunteers: James Snyder, Gordon Davis, Eric Jennett, A.E. Engman, and Susan C. Gallagher. There initial goal was to establish an organization where members could share their experiences in project management and to discuss issues. In 1999 the PMI has been accredited by the American National Standards Institute (ANSI) as an Standard Development Organization (SDO).

In 1996 the first edition of A Guide to the Project Management Body of Knowledge (PMBOK® Guide) was published. This book outlines project management knowledge areas, processes, and practices, and became a standard for generally recognized good practices in project management. The second edition published in 2000 is recognized by ANSI as standard ANSI/PMI 99-001-2000, and the third 2004 PMBoK Guide as standard ANSI/PMI 99-001-2004. In 2008, with its third edition, the PMBOK® Guide has sold more than a million copies worldwide.

From 1997 to 2002, the president of PMI was Virgil R. Carter, under whom PMI experienced a 350 percent net growth in membership to 90,000-members and expanded its global component organizations in 120 countries. Carter also spearheaded PMI's financial growth from an $8 million budget in 1997 to $30 million in 2001.

Carter was succeeded in 2002 by Gregory Balestrero. PMI almost tripled the number of members again in the next seven years. Balestrero's two primary goals for PMI are building a superior project management practice and gaining global acceptance for the profession. During his tenure, PMI has grown from 93,000 in 2002 to over 260,000 members in 2008 in over 150 countries worldwide.

In 2008 the organization reported it has more than 260,000 members in more than 171 countries. PMI also has offices in Washington, D.C., and Beijing, China, as well as Regional Service Centres in Singapore, Brussels, Belgium and New Delhi, India. Recently, an office was also opened in Mumbai, India.

Certification

Its first certification offered was the PMP certification, which was launched in 1984. Nearly 260,000 people now hold the PMP certification. In 2007, it earned the ANSI/ISO/IEC 17024 accreditation from the International Organization for Standardization (ISO). Credential holders do not have to be members of PMI.

To maintain most PMI credentials, holders must earn Professional Development Units (PDUs) which can be earned a variety of ways such as taking classes, attending PMI global congresses, contributing to professional research or writing and publishing papers on the subject.

Standards

PMI standards are targeted at projects, programs, people, organizations and the profession. Currently, some of the published standards are:

• A Guide to the Project Management Body of Knowledge (PMBOK Guide)
• Construction Extension to the PMBOK Guide, Third Edition
• Government Extension to the PMBOK Guide, Third Edition
• The Standard for Program Management
• The Standard for Portfolio Management
• Practice Standard for Earned Value Management
• Organizational Project Management Maturity Model (OPM3)
• Practice Standard for Project Configuration Management
• Practice Standard for Work Breakdown Structures—Second Edition
• Project Manager Competency Development Framework—Second Edition

According to PMI, standards are developed by volunteers in a three step process including an exposure draft process that allows the public to view the standard draft and include change suggestions.

References

1. The USD $80.4 million is the operating budget for 2007, approved the "PMI 2007–2008 Program Plan and Budget", approved by the PMI Board of Directors. (Source: PMI Board of Directors Meeting Minutes Summary 19-20 October 2006, Seattle, WA USA).
2. Jon M. Wickwire et al. (2002). Construction Scheduling: Preparation, Liability, and Claims. p. 289.
3. ^ Sebastian Nokes, Sean Kelly (2007). The Definitive Guide to Project Management: The Fast Track to Getting. p.331.
4. ^ Jan Van Bon (2006). Frameworks for IT Management. Van Haren Publishing. ISBN 9077212906. p.206
5. ^ Michele Sliger and Stacia Broderick (2008). The Software Project Manager's Bridge to Agility. Addison-Wesley. ISBN 0321502752 p.26.
6. "ASME names new executive director" in: ASME news May 2002. Accessed 2 December 2008.
7. ^ NASA Project Management Challenge 2007.. Accessed 2 December 2008.

External links

• PMI official website

• Business and finance professional associations
• Project management
• Standards organizations