The statement that PMBOK guide identifies that subset of project management body of knowledge generally recognized as good practice is mainly to highlight the aspect that it is left to the discretion of the project manager what is actually correct and important to the project context. Thoroughness with PMBOK does not make you a project manager but, it definitely is a guideline to see where you stand and you are following the correct process.
|Purpose of the PMBOK® Guide - Part 1|
|Purpose of the PMBOK® Guide - Part 2|
A Project is a temporary endeavor to create a unique product, service or result.
Temporary here means definite beginning and ending. Here how long is the duration is not important, It is just about having a definite begin and end dates.
Endeavor means an attempt. So, a project is just an attempt. Not necessary it needs to be successful although the intent is to be successful. A project need not be successful, can get cancelled midway or maybe foreclosed for some other reason.
Unique because the team working on it might be different, the timeline might be different even if the team is same. So, there is something unique about the whole combination. So, the end-result as such is stated as unique.
The project can result in a product, service or result. A result is research finding, which again might result in a product or service.
|What is a Project? - Part 1|
Again, presence of repetitive elements like a reusable component or the same set of team, does not change the uniqueness of the end-result since the timeline would be different or people involved will be different. A project need not be done by a team, it can be done by a single person or by an organizational unit. I build pm-prep35.com as a personal goal. My personal objective is driving this project. It is unique in terms of many aspects. It is built by me, it is the first free site, the approach followed in creating the tests is unique. So, the project as such is unique.
|What is a Project? - Part 2|
A project becomes operational once people start using it. pm-prep35.com is currently operational in terms of people being able to take the chapter tests any number of times after they register.
|What is an Operation?|
Portfolio management involves multiple programs. It is used just to group work based on common seller, buyer or technology. It is similar to a bucket. If you have one client who gives you data entry work, technical work and operational work, call it a portfolio and expand it with proper allocations as more work comes.
|Portfolios, Programs and Projects - Part 1|
|Portfolios, Programs and Projects - Part 2|
|Portfolios, Programs and Projects - Part 3|
The portfolio manager is more interested in the strategic objectives. What is the return on investment, profit of the account, how to improve it? how to handle customer requirements, give the best options to the customer, maintain customer relationship, ensure portfolio is aligned with organizational objectives etc.
Normally project management is first-level. program management is mid-level management and portfolio management is senior-level management.
Project manager - operational
Program manager - tactical
Portfolio manager - strategical
|Portfolios, Programs and Projects - Part 4|
|Portfolios, Programs and Projects - Part 5|
|Portfolios, Programs and Projects - Part 6|
|Project Management Office (PMO) - Part 1|
Refer Chapter 1 in ITTO Section for different types of PMOs like Supportive, Controlling and Directive.
|Project Management Office (PMO) - Part 2|
|Project Management Office (PMO) - Part 3|
|What is Project Management? - Part 1|
|What is Project Management? - Part 2|
|What is Project Management? - Part 3|
|What is Project Management? - Part 4|
|What is Project Management? - Part 5|
|What is Project Management? - Part 6|
|What is Project Management? - Part 7|
|What is Project Management? - Part 8|
|Match the following|
|Match the following (Answers)|
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