Project Management Institute Invites Comments on New PMI Standard, Set for Release in Q4 2010

--Draft of The Practice Standard for Project Estimating now available for comment--

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Apr 20, 2010, 08:00 ET

NEWTOWN SQUARE, Pa., April 20 /PRNewswire/ -- Project Management Institute (PMI®), the world's leading professional membership organization for project managers, announces that it will release a new practitioner standard, The Practice Standard for Project Estimating, during the fourth quarter of 2010. As part of its standards development process, project managers can add their voice to the exposure draft, which will be available until 13 May 2010. This latest standard draft can be accessed in multiple formats for ease of commentary. Non-members of PMI are also invited to provide input by becoming a registered user on the PMI Web site and can then access a variety of additional resources.

Through its Global Standards Program, PMI works to develop standards for the profession that are valued by members, the marketplace and other stakeholders. All PMI global standards are established by consensus, taking into account the knowledge, opinions and experiences of the standard project teams, subject matter experts and other project management practitioners. The organization's standards and credentials are internationally recognized and are found in top business schools, corporate training centers and on the desks of hundreds of thousands of working project managers in all industries all over the world. PMI® global standards stand out from other texts because they undergo three review and approval steps:

Each standard is created or updated by a global group of volunteers currently working in project management.
Standards Program Working Sessions enable these volunteer teams to receive feedback from professionals in the field.
Prior to publication, standards are made available to the general public for input through the exposure draft process.

The Practice Standard for Project Estimating will join PMI's library of 12 standards, six of which are specifically designed for practitioners.

About Project Management Institute (PMI)

The world's leading professional membership organization for project managers, PMI shares knowledge with more than a half million members and credential holders in over 180 countries. Since 1969, PMI has impacted more than one million practitioners, businesses, governments, students and training organizations. Today, PMI's products and services range from world-class standards for project, program and portfolio management to five professional credentials, including the gold standard Project Management Professional (PMP)®. PMI's exclusive Global Corporate Council and European Corporate Networking Group engage large multinationals and government organizations in endorsing the value of project management. The only project management association with an established academic research program, PMI has invested more than US$14 million in support of dozens of research projects since 1997. Learn more at PMI.org.

SOURCE Project Management Institute