PMI has put a lot of work into this version. Compared to the 1996 version this one reads better, shows clearer relationships between knowledge areas, and has been greatly expanded in some of the knowledge areas - most notably risk management and earned value project management. The CD ROM version that I am reviewing has additional refinements that make this media easier to work with. The 1996 version in electronic format was a collection of standalone Adobe Acrobat files, this version is a single Acrobat file that makes good use of Acrobat's navigation features.
If your reason for buying the PMBOK 2000 is to prepare for the Project Management Professional certification you have two choices: CD ROM or book, because this is the primary source of test questions. Heed the previous reviewer's comments that the 2001 examinations will also use the 1996 version as a basis for test questions. If you are buying this book to implement project management processes that conform to the PMBOK and work in the computer industry I recommend that you also look at Information Technology Project Management by Kathy Schwalbe. That book presents a project management approach for IT projects that is closely aligned to the PMBOK.
What it contains: this CD ROM is identical in format and content as the hard copy versions of the PMBOK 2000 edition. Its 211 pages are divided into four sections that are comprised of 12 chapters and seven appendices.
Section I consists of three chapters that introduce the guide and briefly describes terms and definitions. It also provides an overview of the nine knowledge areas and 39 processes embodied in the project management framework. Chapter 2 adds a brief piece on the role of project offices, which was not in the 1996 edition. Chapter 3 appears to have taken a few ideas from the British PM standard, PRINCE 2 (PRojects IN a Controlled Environment) because more attention appears to be given to phases and interactions among phases. Another interesting thing I noted about Chapter 3 is the inclusion (although brief) of iterative development. If you are in IT/IS you will recognize how this can be aligned to the Rational Unified Process or other iterative development approaches.
The nine chapters in Section II address each of the nine knowledge areas and their associated processes. The knowledge areas are: project integration management, scope management, time management, cost management, quality management, human resources management, communications management, risk management and procurement management. The knowledge areas and processes in the 2000 edition have undergone some refinement and expansion from what is in the 1996 edition: Chapters 4 and 10 have a lot more material on earned value (I recommend Earned Value Project Management, 2nd edition as an augment to the PMBOK because the authors of that book were instrumental in adding earned value to the PMBOK), Chapter 6 touches on theory of constraints (a good book that extends this is Project Management in the Fast Lane by Robert Newbold), and Chapter 11, risk management, has been expanded to include six processes instead of four that were covered in the 1996 edition.
Section III is a collection of seven appendices, of which Appendix G, Summary of Project Management Knowledge Areas, is the most valuable. Section IV is a glossary and index.
It's a given that if you are pursuing PMP certification the PMBOK is a must. The burning question is whether or not you should get the hard copy or CD ROM version. I personally prefer the hard copy version because of the way I read (not to mention the eyestrain from reading off a monitor). However, the CD ROM version is a lot more portable, and you can print out the entire PMBOK or selected sections for offline reading. There is also something to be said for the way the CD ROM version is hyperlinked, making it a convenience. I have it in both formats, but you will have to decide which is most convenient for you - or spend the extra money and get the book and CD ROM.
On the other hand I do not like the book for reading and learning. It feels like reading a book on income taxes regulations, though a good one.