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Narender, I'm not really sure what the question is. Your first question I believe is answered by if someone is managing a project (however badly on your view) that is why the industry designates them to be a PM. I think the second question can be answered in the same way. Projects are probably the environment with the largest variety in the world. So it stands to reason that you will get all sorts of PM's, good and bad, appropriately assigned and inappropriately assigned.
As far as I understood your post please let me say that are some kind of confusion there. First of all, what PMI stated into the PMBOK is a guide (as the name explicit said). That means that each time you start a new initiative you have to select the set of knowledge areas/process you will follow (and perhaps some of the tools and techniques) and you have to tied them into a project life cycle (you have to decide about it). So, what you stated about software is not correct. Second, to perform project management you must not follow the PMI or any other guideline. You can perform project management in your own way. What value could be found in following the PMI way? Well, as the PMBOK Guide stated into the first page about what the guide means.
Project management is dynamic and its application cuts across different industries and projects which are obviously unique in their own rights. The guideline provided by PMI cannot address each and every unique need of this industries and projects, but could be adapted for different projects. What I think you should focus on is understanding the nature of your own project, its life cycle and how best you can apply some of the principles/ guidelines provided by PMI to it.
I wouldn't say SLAs are a result. SLAs are a measure of success of the engagement.
AMCs therefore, would not fall under the umbrella of project management. They are operational in nature (even if temporary) and more concerned with maintaining the current level of services rather than creating a new unique product or service.
The managers leading these operations are usually Operations Managers or Technical Quality Managers. The skill-set required is similar to that of a PM, yes, so it should be no surprise that PMP certified folks are brought into such roles.
I don't understand the question properly
Could you clarify your question please ?
Now it is clarified in previous answers by expert here - Sante Vergini, Sergio Luis, Pam and Karan. Thank You all for your valuable inputs.
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