BUSINESS ACUMEN FOR PMs-206 ASSIGNMENT 1

PMI Talent Triangle

Gurasis Singh (200537154)

Graduate Certificate in Project Management

Georgian@ILAC, Toronto

PRJM 1011- Business Acumen for PMs

Eileen Aday

November 15, 2022

ASSIGNMENT 2

Assignment: PMI Triple Triangle

Project managers are individuals with skills, they are indispensable to the team, having

numerous skills, talents, and competencies. PMI institute laid down an ideal skill set for them

called Talent Triangle. The triple triangle has three sections: Technical Project Management,

Leadership, Strategic and Business Management. Most project managers can rely on these three

pillars to be successful in the field, it is a combination of skills, mixing elements of business

management, technical skills, and expertise to lead the team. PMI has updated these three focus

areas to Ways of Working (formerly Technical Project Management), Power Skills (formerly

Leadership), and Business Acumen (formerly Strategic and Business Management) (PMI,

para.3). Ways of working as names suggest meaning the knowledge of how to do, basically

technical of the projects. A project manager can lead and carry out a project if he or she knows

how and what to do. These include, but are not limited to, Agile Practice, Performance

management, Risk management, Scope management scheduling, budgeting, timelines, cost

estimations, industry knowledge, etc. PMI describes coaching, mentoring, leading, influencing,

brainstorming, and interpersonal communication skills as part of the leadership qualities, to be

possessed by a project manager. A PM knows how to do it, but he or she should also know how

to communicate with the team, and how to lead and collaborate with the team to influence them

to achieve the best outputs with efficient goals. They should motivate the team, and integrate

them with the team. The third leg of PMI’s Triangle is focused on Broad business and operations

goals and their management. PMs apply their knowledge and leadership skills to fulfill the

company’s business objectives, its strategic goals. They should have the skills to know how to

manage these goals. These include business acumen, market awareness, competitive analysis,

legal compliance, and operational and financial aspects.

ASSIGNMENT 3

References

PMI. PMI Talent Triangle [Article]. https://www.pmi.org/learning/training-development/talent-

triangle