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).
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.
The PMI’s PMBOK 5th Edition 10 Knowledge Areas are:
- Integration Management
- Scope Management
- Time Management
- Cost Management
- Quality Management
- Human Resources Management
- Communications Management
- Risks Management
- Stakeholders Management
- Procurement Management
There are different activities within each process, each one having their own inputs, outputs, tools and techniques.
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The PMI’s PMBOK 5 Processes Groups are:
- Monitoring and Controlling
They are supposed to follow the natural flow of activities done througout a project life cycle.