Professional Documents
Culture Documents
Management Skills
Second Edition
Larry Richman
American Management Association
Project Management
Foundation
MBA Program
Dunya University
Kabul Afghanistan
The Core Concept
PM Vocabulary
Success requires that the project manager should serve as a
focal point of effective, timely and accurate communication
Words and terms used in context of planning, scheduling and
controlling projects.
A project is “temporarily endeavor undertaken to create a
unique product, service or result”
Temporarily = definite start date and definite end date
Unique = product, service or result is different in some
distinguishing way from product, service or result.
PM Vocabulary - continues
Project Management = The application of knowledge, skills, tools
and techniques to project activities to meet the project requirements.
Program = Multiple projects grouped and managed together to obtain
benefits and control not available from managing them individually.
(In Mature firms)
Portfolio = Multiple programs grouped and prioritized into portfolios
aligned around larger strategic organizational objectives.
Portfolio Management = Centralized management of one of or more
portfolios which includes identifying, prioritizing, authorizing,
managing and controlling projects, program and other related work to
achieve specific strategic business objective.
Why Project Management
Project Management stems from the need to plan and
coordinate large, complex and multifunctional efforts.
Project Management is the solution for practical problems.
Higher quality products
More customized products
Shorter time to market
Global competition
Easier information access
Technology growth
Global organization seeking uniform practices
Classic Functions of PM
Planning = Understanding of current situation and the desire
future.
Directing = Communicating the plan
Questions Documentations
What is to be done? Scope definition documents
Why should we do it? Business case or rational
How should we do it? Strategy and Work Breakdown Structure