Create an instant diagram by right-clicking on a set of bullet points. On the right-click menu, you’ll find Convert to SmartArt. Choosing this option will reveal some commonly used diagram styles. Choose More SmartArt Graphics … for additional choices. You can easily add to your diagram by using the new Type your text here box. Modify the appearance of shapes, fills and effects on the SmartArt Tools Design and Format contextual tabs.
While you have SmartArt in most of your Office 2007-10 applications, this trick only works in PowerPoint.