Project Management

Project Management

A project is a series of tasks that need to be completed in order to reach a specific outcome. A project can also be defined as a set of inputs and outputs required to achieve a particular goal. 

OR it can be defined as:

A project consists of a concrete and organized effort motivated by a perceived opportunity when facing a problem, a need, a desire or a source of discomfort (e.g., lack of proper ventilation in a building). 

Each project will have agreed and unique objectives as well as its own project plan, budget, timescale, deliverables, and tasks. A project may also involve people from different teams within an organization who are brought together to accomplish a specific goal.

The success of any project depends on how well four key aspects are aligned with the contextual dynamics affecting the project, these are referred to as the four P's

• Plan: The planning and forecasting activities.
• Process: The overall approach to all activities and project governance.
• People: Including dynamics of how they collaborate and communicate.
• Power: Lines of authority, decision-makers, and policies for implementation.

Project management is the process of leading the work of a team to achieve goals and meet success criteria at a specified time. The primary challenge of project management is to achieve all of the project goals within the given constraints. Key components of project management are : (a) Time, (b) Cost, (c) Scope, and (d) Quality.

Traditionally, project management includes a number of elements: four to five project management process groups, and a control system. Regardless of the methodology or terminology used, the same basic project management processes or stages of development will be used. Major process groups generally include:

• Initiation
• Planning
• Production or execution
• Monitoring and controlling
• Closing