Article of the Month

An interview with Steve Fahrenkrog, Vice President, Regional Development,
Project Management Institute
Publications: Maekyung Economy
Summary of the article:

It's important to have Korean voice when establishing the international standard.  

 › Brief background information about Steve's trip in Korea

› Steve's personal background in the project management and mentioning that he is the key driver of ISO 21500 establishment

› Benefits of establishing international standard in the project management - especially for the global project

› Status of the progress- Steve's quote '”The standardisation is nearly 60 percent done (agreed) and ISO 21500 will complete the earliest in 2017and at the latest 2022'”

› South Korea government formed a committee of ISO 21500 under the Ministry of Knowledge and Economics last Sep, yet it is not sufficient to voice out to the international society as it has not been prepared long enough

Steve's advice to Korean firms

› '”Common and/or agreed standards amongst 14 countries will be most likely to be reflected to the international standard, so it's better to prepare in advance in line with the agreed contents”

› “It's urgent (for the firms) to foster/recruit PMP credential holders. There are only 11,338 PMPs in South Korea, whereas, China plans to foster 5 million PMPs and Japan does 2 millions within next 3 years. Thus, South Korea should have at least 500,000 in accordance with its size of economy. ' The companies who prepare after ISO 21500 will be lagged behind in the global environment'”