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PMI’s PMBOK 5th Edition Project Management VS Operations Management

Project Management is not the same as Operations Management. They’re quite different.

Project Management is temporary having a beginning and end, while Operations Management is permanent, continuous.

The goal of PM is to create unique products, services or results. The goal of OM is to produce a repetitive product or service.

A product in PM (a new electric car) is not the same as a product in OM (mass production of that new electric car).

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PMI’s PMBOK 5th Edition Project, Program and Portfolio

Project is a temporary endeavor to produce a product, service or result. Example: an operations systems for the freight forwarding division of a company.

Program is a group of projects that together may work towards the same objectives. Example: the previous project, plus a system to manage the rail transportation business unit, a system to digitalize any image into the company repository, and a mobile app for truck drivers. All of them are related between them, are for the same customer.

Portfolio is a group of programs and single projects, not related to each other. All the projects executed by a software factory company for all its customers.

In short: a portfolio can have several programs and projects, a program can have several projects, and a project is just a project.

PMI’s PMBOK 5th Edition 10 Knowledge Areas

The PMI’s PMBOK 5th Edition 10 Knowledge Areas are:

  1. Integration Management
  2. Scope Management
  3. Time Management
  4. Cost Management
  5. Quality Management
  6. Human Resources Management
  7. Communications Management
  8. Risks Management
  9. Stakeholders Management
  10. Procurement Management

There are different activities within each process, each one having their own inputs, outputs, tools and techniques.

An Introduction to PMBOK Guide 5th Edition: Knowledge Areas, Processes and Process Groups

100+ Tips on PMP Certification Training & Study by 100 PMPs

My Journey to Earning the PMP Certification

PMI’s PMBOK 5th Edition 5 Processes Groups

The PMI’s PMBOK 5 Processes Groups are:

  1. Initiation
  2. Planning
  3. Execution
  4. Monitoring and Controlling
  5. Closing

They are supposed to follow the natural flow of activities done througout a project life cycle.