Learn about the Project Management Institute's Talent Triangle, and where strategy and business management fit into your professional development.
- What does it really take to be a good project manager? Well, of course you need to understand the tools, the rules, and the jargon of project management. But to be really good as a project manager, you also need to develop skills and strategy in business management and in leadership. The Project Management Institute, which publishes the project management body of knowledge, describes the skills that a project manager needs to have with a picture called the talent triangle.
One side of the talent triangle is technical project management. This is what differentiates project managers from other types of managers in an organization. Project managers need to master the use of Gantt charts, understand the importance of the critical path, and speak with authority about work breakdown structures and risk assessments. You can find many courses in the library that will help you learn about these project management tools and concepts.
A good example is a course called Mastering Microsoft Project Graphical Reports, by Bonnie Biafore and John Riopel. Courses like this fit into the technical project management side of the talent triangle. The next side of the talent triangle is leadership. How do you motivate people to work effectively towards your goals? Leadership skills are not unique to project managers, but they're especially important because project managers often have to fill gaps in a project.
An important part of leadership for a project manager is being able to see and to fill the gaps that come up. There are many leadership courses on this site too. Including one that I teach called Leading Projects. And the third side of the talent triangle is strategic and business management. Or, as it's also called, business acumen. Business acumen involves learning how organizations work and why they do what they do.
In order for a project manager to understand the decision that their leaders make and to make good decisions of their own, they need to possess strong business acumen. This course focuses on business acumen, which applies to the strategic and business management part of the talent triangle. Project management is a challenging and rewarding career. The best project managers that I know are lifelong learners, and they share an ongoing commitment to professional development.
The talent triangle gives us an easy way to think about the range of skills project managers need to develop throughout their careers. Using the talent triangle will help you focus on growing your skills in technical project management, leadership, and strategic and business management. And that will help to make you and your teams more successful.
Instructor Daniel Stanton begins the course by reviewing the key skills highlighted in the Project Management Institute (PMI) Talent Triangle, and explaining how strategy and business management fit into your professional development. Next, he explains how to align your project with the priorities of your organization, and effectively communicate the goals, benefits, and risks of your project to your stakeholders. Then, he walks through the different business functions in an organization, including marketing and sales, supply chain management, human resources, and information technology. To wrap up, Daniel explains how to leverage your business acumen to collaborate effectively with individuals throughout your organization.
Lynda.com is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Identify the role of business acumen in the PMI Talent Triangle.
- Recognize that projects are how businesses implement changes.
- Explore the characteristics of a SMART goal.
- List several business benefits of good customer service.
- Identify common financial documents.
- Review common financial analysis methods.
- Recall the three common approaches to continuous process improvement.
- Identify the differences between strategic, tactical, and operational goals.