What's New in Project Management

PMI is about to issue two new standards - one for Program Management and one for Portfolio Management. These appear to be very similar to the long-heralded PMBOK, but adapted to Programs (groups of connected projects) and Portfolios (an organization's entire collection of projects and programs). I've read both in draft form and participated in the development of the Portfolio standard. They seem to be fairly concise. BUT ...

Are these two documents the first step in developing new certifications?

Will they further dilute the prestigious PMP?

OR

Will they be used by the industry to track a career path for project managers?

Clearly, the latter is the preferred route. Long needed in the project management profession is a common career path. Maybe having standards that track to a path will help that process. As I see it,:

CAPM - for the beginner

PMP - the career professional

Program - the the sub-enterprise level PMO type

Portfolio - for senior PMs in PMOs

What do you think?

I'd like to hear your responses.

Chuck