PMBOK
Global standard for project management principles and practices
MAS TRM
Singapore guidelines for financial sector technology risk management
Quick Verdict
PMBOK provides voluntary project management principles globally, while MAS TRM enforces technology risk controls for Singapore FIs. Organizations adopt PMBOK for delivery excellence; MAS TRM for regulatory compliance and cyber resilience.
PMBOK
PMBOK® Guide – Eighth Edition
Key Features
- Tailors practices to project size, complexity, delivery model
- Six core principles focusing on value and leadership
- Seven performance domains for governance and outcomes
- Hybrid guidance for predictive, agile, hybrid approaches
- Standardized tools like EVM, WBS, risk registers
MAS TRM
MAS Technology Risk Management Guidelines
Key Features
- Board and senior management accountability
- Proportional risk-based implementation
- Third-party service risk management
- Comprehensive cyber defence layers
- Annual penetration testing for internet systems
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
PMBOK Details
What It Is
PMBOK® Guide – Eighth Edition, published by the Project Management Institute (PMI), is a comprehensive global standard and framework for project management. It codifies principles, performance domains, processes, and practices to deliver value through projects across industries. The approach emphasizes tailoring, value focus, and adaptability in predictive, agile, or hybrid contexts.
Key Components
- **Six Core PrinciplesHolistic view, value focus, quality embedding, accountable leadership, sustainability integration, empowered teams.
- **Seven Performance DomainsGovernance, scope, schedule, finance, stakeholders, resources, risk.
- Legacy elements: 5 Process Groups (Initiating to Closing), 10 Knowledge Areas.
- Tools/techniques: WBS, EVM (CPI/SPI), risk registers, stakeholder matrices.
- Aligned with PMP® certification.
Why Organizations Use It
- Predictable delivery, reduced overruns, faster decisions via common language.
- Mitigates contractual, audit, reputational risks.
- Strategic edges: hybrid agility, AI/PMO integration, competitive differentiation.
- Builds stakeholder trust, talent retention through standards alignment.
Implementation Overview
Phased framework: executive alignment, gap analysis, tailoring/design, capability build, pilot, rollout, continuous improvement. Suits all organization sizes/industries; 12-24 months for enterprise. Focuses on PMO, training, tools; no org certification required.
MAS TRM Details
What It Is
MAS Technology Risk Management (TRM) Guidelines (January 2021) are supervisory guidance issued by Singapore's Monetary Authority of Singapore (MAS) for financial institutions. They provide a principles-based framework focused on governance, cybersecurity, resilience, and third-party risk to ensure confidentiality, integrity, and availability (CIA) of systems and data. The risk-proportional approach emphasizes outcomes over rigid rules.
Key Components
- 15 sections covering governance, risk frameworks, SDLC, IT service management, resilience, access controls, cryptography, cyber operations, assessments, and audit.
- Synthesised into 12 core principles like board accountability, asset classification, secure engineering, and layered defences.
- No fixed control count; built on defence-in-depth and continuous improvement.
- Compliance via supervisory review, no formal certification.
Why Organizations Use It
- Meets MAS supervisory expectations for licensed financial institutions.
- Enhances cyber resilience and operational stability amid digital threats.
- Builds stakeholder trust through robust governance and risk metrics.
- Enables proportional scaling for innovation while mitigating fines/enforcement.
Implementation Overview
- Phased: governance setup, asset inventory, control design, testing, monitoring.
- Targets MAS-supervised FIs; scalable by size/risk.
- Involves board approval, training, audits; 12-24 months typical.
Key Differences
| Aspect | PMBOK | MAS TRM |
|---|---|---|
| Scope | Project lifecycle, processes, performance domains | Technology/cyber risk governance, controls, resilience |
| Industry | All sectors globally, any organization size | Singapore financial institutions only |
| Nature | Voluntary global standard, no enforcement | Supervisory guidelines, enforcement via fines |
| Testing | Pilot projects, maturity assessments, audits | Annual pen tests, vulnerability scans, DR tests |
| Penalties | None, reputational or contractual risks only | Fines, license revocation, executive prohibitions |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about PMBOK and MAS TRM
PMBOK FAQ
MAS TRM FAQ
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