The Project Management Institute (PMI) defines a portfolio as a collection of projects, programs, subsidiary portfolios, and operations managed as a group to achieve strategic objectives. Portfolio Management, then, is the discipline of managing this portfolio to achieve organizational goals. The components of the portfolio can be projects, programs (series of projects … [Read more...]
A program is a group of interrelated projects, subsidiary programs, and program activities that are managed in a coordinated way to obtain benefits not available from managing them individually. Program management is often confused with Portfolio management. The main difference is that a program has a defined end point, since it is a series of related projects each … [Read more...]
Every successful project, from building skyscrapers to launching software, hinges on a framework that keeps chaos at bay. That's where the PMBOK Guide's five process groups come in, a central foundation of project management theory. Although relegated to one of many project 'models' in the PMBOK version 7, they’re the backbone of project management, guiding teams from … [Read more...]
Managing projects is like steering a ship—success depends on a steady hand, a clear course, and the ability to navigate unpredictable waters. Whether you’re launching a product, building a team deliverable, or tackling a complex initiative, effective project management keeps everything on track and moving toward the destination. In this "Guide to Project Management," … [Read more...]
Projects don't manage themselves. Professional project management requires the development of a plan that outlines how it will be managed. According to the Project Management Body of Knowledge (section 4.2), the project management plan fulfills this purpose. Although it includes any and all items that define the management of the project, there are certain standard … [Read more...]
In the Project Management Body of Knowledge (PMBOK) the process groups are the chronological phases that the project goes through, and the knowledge areas occur throughout any time during the process groups. The process groups are horizontal, and the knowledge areas are vertical. They are the core technical subject matter of the project management profession, and they … [Read more...]
Every successful project—whether it’s launching a product, building a bridge, or organizing an event—starts with a solid foundation. That’s where project management fundamentals come in. These core principles guide teams through planning, execution, and delivery, turning big ideas into tangible results. In this article, we’ll explore the essential building blocks of … [Read more...]
Project management can feel like herding cats while riding a unicycle and juggling flaming torches—all at once. But it doesn’t have to be a circus act. The Project Management Body of Knowledge (PMBOK), developed by the Project Management Institute (PMI), offers a structured framework to bring order to the chaos. But it’s not just a dusty textbook for earning your PMP … [Read more...]
Human beings are naturally predisposed to resist change because of the risks it entails. Maybe the change will fail. Maybe it will reduce business or personal income. And maybe it will result in a loss of job security. We'd rather the devil we know, than the devil we don't. But process improvement is often an exciting step forward that makes an … [Read more...]
The International Project Management Association (IPMA) provides an excellent standard for measuring project success. It's called the Project Excellence Model (PEM), and it establishes an analytical system of points for various categories. It is used in the selection of the IPMA Project Excellence Awards every year. It is documented within the Project … [Read more...]
