Final answer:
The Project Management Institute (PMI) was founded in 1969 and is the international professional society for project managers. Professional societies like PMI and the International City/County Management Association (ICMA) contribute to the development of standards and recognition of various professions.
Step-by-step explanation:
The Project Management Institute (PMI) is an international professional society for project managers that was founded in 1969. Over the years, professional societies and trade organizations have played a significant role in the advancement and recognition of various professions. Similar to the Project Management Institute, the International City/County Management Association (ICMA) supports local government leaders by offering networking opportunities, professional development programs, and valuable statistical data.
The initiation of trade organizations dates back to the nineteenth century when they were primarily established to fortify the engineering profession. The American Society of Civil Engineers was created in 1852, signaling the commencement of a series of professional associations designed to address training and practice standards in engineering. Moreover, these organizations frequently collaborated with institutes of higher education to shape both the theoretical and practical components of engineering curriculums.
The institutionalization of such societies, including the PMI, has not only assisted in creating formal standards and certifications for acknowledging qualified professionals in various fields but has also enhanced the reputation and standards of professions as a whole. The efforts made by these societies are reflected in the contemporary professionalization and specialization within the workforce.