Set for release at the end of 2010, the Practice Standard for Project Estimating draft is now available for comment.
Project Management Institute (PMI) 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 May 13, 2010.
The latest standard draft can be accessed in multiple formats for ease of commentary. Non-members of PMI are also invited to provide input, but must register at www.pmi.org.
PMI global standards undergo three review and approval steps: 1) each standard is created or updated by a global group of volunteers currently working in project management; 2) working sessions solicit feedback from professionals in the field; and 3) 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, including Work Breakdown Structures, Scheduling, Project Configuration Management, Risk Management, Earned Value Management, Risk Management and Program Management.