What is Episode 542 of The Project Management Podcast about?

Insights on PMBOK Guide 8 explain how updated definitions, principles, and performance concepts strengthen modern project management, with expert context provided by Jesse Fewell.

Why do project teams need updated definitions for project work in PMBOK Guide 8?

According to Jesse Fewell, updated definitions in PMBOK Guide 8 help practitioners align project work to value creation instead of focusing only on deliverables.

What is the new definition of a project in PMBOK Guide 8?

The new project definition describes a temporary initiative in a unique context undertaken to create value.

How can project managers apply the PMBOK Guide 8 focus on value in daily work?

Project managers apply the PMBOK Guide 8 value focus by validating stakeholder expectations throughout delivery to ensure value alignment.

Why does project success in PMBOK Guide 8 emphasize perceived value?

Project success emphasizes perceived value because value perception reflects how stakeholders judge outcomes beyond cost or schedule.

Episode 542: Inside PMBOK Guide 8: What Project Managers Must Know

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Episode Summary

The eighth edition of the PMBOK Guide has dropped and it represents another significant evolutions in PMI’s standards. This conversation takes listeners directly inside its development. Jesse Fewell, who chaired the PMBOK Guide 8 effort, offers a detailed look at how tens of thousands of data points, practitioner feedback, and extensive review cycles shaped the newest edition. He explains how the standard brings greater clarity, a more intuitive structure, and practical guidance that aligns with the way projects actually unfold rather than how we might idealize them on paper. This episode also highlights major updates, including a fully revised definition of a project and a modernized view of project success that emphasizes value, perception, and consensus across stakeholders, even when budgets or schedules are challenged.

Cornelius and Jesse walk through the table of contents, from the ANSI-accredited standard to the PMBOK Guide and supporting material. Jesse explains why certain long-standing elements remain, why others changed, and how the team reduced duplication while strengthening universal principles such as value focus, sustainability integration, and accountable leadership. He also shares behind-the-scenes details about the double-blind volunteer structure, how review teams handled more than fifteen thousand comments, and why principles were streamlined from twelve to six for clarity and usability. The Sydney Opera House example even makes an appearance to show how a "failed" project can still be a success when the delivered value resonates strongly with stakeholders.

The conversation also touches on predictive, adaptive, and hybrid development approaches, how performance measurement now includes both delivery and value components, and that the new edition does not introduce new lifecycle models. Jesse provides context on the inclusion of emerging AI concepts in an appendix, noting that rapid industry changes made it impossible to codify specifics in a lasting way. The episode closes with updated definitions for "project" and "project management," which reflect a more modern understanding of temporary initiatives, context, and value creation.

In This Episode, You Will Learn:

The major structural and conceptual changes introduced in PMBOK Guide 8, including updated definitions and streamlined principles.
How ANSI accreditation influences the renewal cycle and why regular updates are required for global standards.
The difference between the standard and the PMBOK Guide, and why practitioners benefit from reading both sections.
How project success is reframed around consensus and perceived value, supported by real-world examples.
Why predictive, adaptive, and hybrid approaches remain familiar, and how they align with the updated principles.

Resources Mentioned

PMBOK Guide, Eighth Edition - The latest edition of PMI’s standard and guide. https://www.pmi.org

Quotes from This Episode

"The PMP exam is not a test of the PMBOK Guide." - Cornelius Fichtner
"Value perceived is value achieved." - Jesse Fewell
"Project management of the twentieth century was get it done. Project management of the twenty-first century is was it worth it." - Jesse Fewell

Connect with Jesse Fewell

LinkedIn: https://www.linkedin.com/in/jessefewell/

Time-Stamped Show Notes

[00:00] - Opening hook, welcome, and excitement about the release of PMBOK Guide 8.
[01:39] - Introduction of guest Jesse Fewell and his role as chair of the PMBOK 8 development team.
[03:37] - How the 8th edition was developed and why certain changes were made.
[10:01] - Clarifying the difference between the Standard and the Guide, and why both matter to practitioners.
[11:07] - Deep dive into value delivery and the modern definition of project success.
[18:14] - Walkthrough of the six project management principles and why these were chosen.
[24:57] - Examination of predictive, adaptive, and hybrid approaches and how they integrate with the principles.
[31:51] - Transition into the PMBOK Guide section and how processes, domains, and structures have evolved.
[40:52] - Discussion of the AI appendix, its intent, limitations, and the future of AI guidance from PMI.
[46:06] - Updated definitions of project and project management, and what misconceptions they aim to correct.
[52:22] - Where to get the PMBOK Guide and closing remarks with final takeaways.