Shortfall in the PMBOK Framework
I believe there is a major shortfall in this framework - the lack of the concept of Governance
, which might be an addendum to the 'control' lozenge. Most PMs success is measured on delivering projects to time cost and quality, delivery though is the key differentiating factor. A project may be delivering perfectly to TC&Q, but if external business environmental factors have shifted, and the project is no longer viable to deliver the product that then delivers the benefit needed, the project manager now has a conflict of interest... I believe you need governance that ultimately owns projects or programmes, that remove the PM conflict of interest. It is the Governance that can decide to shut down a project, because it can no longer meet the original benefits case.