Project Management

Definition

Project Management is defined as the application of knowledge, skills, tools, and techniques to project activities in order to meet the requirement of a particular project.

A key factor that distinguishes project management from just ‘management’ is that it has final deliverable and a finite timespan, unlike management which is an ongoing process. Therefore, project management should be carried out by project professionals, which have a wide range of skills; often technical skills, and certainly people management skills and good business awareness.

Sources: www.pmi.org; www.apm.org.uk

Scope of Works

A project management may be conducted from the beginning to the end of a project through these five basic phases.

  1. Initiation Phase

An idea for a project will be carefully examined to determine whether or not it benefits the organization. In this phase, a decision making team will identify if the project can realistically be completed.

  1. Planning Phase

A project plan, project charter and/or project scope may be put in writing, outlining the work to be performed. In this phase, a team should prioritize the project, calculate a budget and schedule, and determine what resources are needed.

  1. Executing Phase

Resources’ tasks are distributed and teams are informed of responsibilities. This phase is a good time to bring up improtant project related information.

  1. Monitoring and Controlling Phase

Project managers will compare project status and progress to the actual plan, as resources perform the scheduled work. During this phase, project managers may need to adjust schedules or do what is necessary to keep the project on track.

  1. Closing Phase

After project tasks are completed an the client has approved the outcome, an evaluation is necessary to highlight project success and/or learn from project history.

Sources: www.projecinsight.net