Project management is now big business. According to the Anderson Economic Group study commissioned by the Project Management Institute, over 24.4 million employees were participating in projects in 11 major economies in 2006. By 2016, this demand will exist to support 32.6 million employees in the same countries.

ISO 21500 provides high-level description of concepts and processes that are considered to form good practice in project management. New project managers as well as experienced managers will be able to use the project management guidance in this standard to improve project success and achieve business results.

Miles Shepherd, Chair of the ISO project committee that developed the new standard, states: “ISO 21500 enables people in any organization to understand how the discipline fits into a business environment. It is also intended to be used as a basic guide, aimed at the informed reader without an in-depth knowledge of project management.”

• • Encourage transfer of knowledge between projects and organizations for improved project delivery
• • Facilitate efficient tendering processes through the use of consistent project management terminology
• • Enable the flexibility of project management employees and their ability to work on international projects
• • Provide universal project management principles and processes