What is a project?
A Project is defined as a temporary endeavor which has a definite beginning and ending. It creates:
– A unique product, service or result.
– Result in an item, an enhancement in existing system or create a component.
– Service or capability to perform a service.
It can involve a single person, multiple persons, single organization or multiple organizations which work towards defined goal.
What is Project Management?
Project management is application of knowledge, skills, tools and techniques to meet the project requirements and accomplish the result by meeting the project objectives:
PMP guide describes 47 Project management processes which are packaged in 5 process groups.
4. Monitoring and controlling
Project Management tasks
Following are the typical project management tasks
– Identify requirements
– Address need, concerns and expectations of stakeholders
– Setting up, maintaining and carrying out clear communication
– Balance project constraints: Scope, quality, Schedule, Budget, Resources and Risks.
Projects are typically part of Programs which may contain multiple projects with common goal. Portfolio describes all the investments that an organization has with its Programs and Projects collectively.
Program management is about managing multiple related projects. It enables program managers to achieve the maximum benefit by using common resources in multiple projects.
Project Managers report to a Program Manager which in turn reports to a Portfolio Manager.
Project Management Office
PMO supports Project Managers by coaching, mentoring and training them as per requirement. PMO is responsible for Project audits and develops process and procedures. PMO work in following ways:
Supportive – consultative role, creates/provides templates, trainings
Controlling – Assures compliance through well defined frame works, specific forms and templates. Looks for proper governance
Directive – Can directly manage the projects and control the project life cycle.