PMI says the next edition of the PMBOK Guide will be released in very early 2013. I have reviewed it and found nothing dramatic. Here are some of my observations:

• Of course, some revisions were for alignment with other PMI standards and practice standards.
• Desire to align with the newly emerging standard ISO 21500.
• There is one new knowledge area and number of processes is up from 42 to 47.
• The new knowledge area is Stakeholder Management. The two stakeholder processes from Communications Management are moved over and expanded to four processes.
• Four new processes displaying an emphasis on the “subsidiary management plans”: Plan Scope Management, Plan Schedule Management, Plan Cost Management, and Plan Stakeholder Management.
• Process names: Verify Scope changed to Validate Scope with unchanged meaning, and several other minor process name changes.
• More on life cycles and phases, including description of predictive (waterfall), incremental and iterative, and adaptive (agile) life cycles.
• More on tornado diagram.
• More on contingency and management reserves.
• Coverage of statistical process control is reduced.

Related changes to the PMP examination will be implemented approximately July to September 2013.