Project Management: Business Fundamentals

Running head: PROJECT MANAGEMENT BUSINESS FUNDAMENTALS 1
Project Management: Business Fundamentals
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PROJECT MANAGEMENT BUSINESS FUNDAMENTALS
2
Part A
What I have learned from the business basics and life cycle is that it is a progression of a
business and its different phases such as production, sales among others over time. Indeed,
business basics provides offer essential skills such as strategic management, basic accounting,
financial management, management of sales, people and operation management. These skills can
be acquired in several ways such as hiring employees with strong skills in these areas,
involvement in professional business advisory and undergoing training to gain these skills.
Part B
A project management office (PMO) is a special department within an organization that is tasked
with upholding the standards of project management. The role of PMO in organizations is
different depending on the business type as well as the projects needs to be executed. In this
regard, this paper will discuss the role of PMO in a construction organization in general. The key
roles of PMO include providing governance and expert support, performance management, and
supplier management among other responsibilities.
In construction, individuals who are from related technical fields drive the project. Thus,
giving technical advice and governance regarding project management essential is a critical
responsibility of a PMO (Nicholas & Steyn, 2017). The advice include schedule development,
quality management, communications management and governance.
Schedule development: The functions of schedule management is to help the program in
identifying project level milestones and interconnection them to the whole program level design.
The project level design is a summary view of the key project milestones (Kerzner, 2017).
Therefore PMO leverage tools such as Microsoft Project Server to integrate the project schedule