A business is a collection of forms of capital that interact in a self-sustaining way.
The forms of capital are four-fold: people who share understanding of the triggers that arise and how to respond to them, the skills to enact the procedures that are the responses to the triggers that arise, the equipment and raw materials that supports the processes that the procedures implement and the financial ‘capital’ and cash-flow to create and sustain the other forms of capital.
For example for a tea-shop to flourish requires: staff that know how to make tea, a supply of tea, milk, heat and water, probably a kettle and tea-pot, maybe a tea-spoon, possibly a saucer, table and chair but definitely a cup and a customer with money. The owner was the original trigger and converted money into tea and tea-pot etc, the customer is an individual transaction’s trigger. Their request causes a process by which brewed tea is made and transferred out of the system and money is transferred in. Later the owner will distribute some of the cash-flow as wages to the tea-maker and some to replenish the tea-stock and pay the fuel bill for heating the water.
Every organisation, institution, business or other human endeavour is system of capital interactions that together are the portfolio of all routine and all exceptional (cyclic and one-off) activities.
The only thing that projects can change are either the procedures (or rule-sets) by which forms of capital interact, or the forms of interacting capital.
#pmngt is a collection of tools and procedures within a defined but loosely enforced framework that together handle the initiation, conduct and bedding-down of change. #pmngt recognises that success requires support of activity from end2end of an investment’s timeline and from top2bottom of the management hierachty. #pmngt is a product set of business leadership and project management tools that provide governance over equity. #pmngt’s acid test is “is this relevant2reality?” it is not an exercise in exam based ‘cram and forget’ cv building.