Project management
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Project management involves planning, coordinating, and controlling tasks to effectively complete projects within time and budget constraints while anticipating potential challenges. It includes five key processes: initiation, planning, execution, monitoring and control, and project closure, each with specific goals and activities. Additionally, project management applies to various fields, including sales, technical disciplines, and management categories.
Project management
- 1. Project Management 1.4: Definition of Project Management Prepared by : Nimesh Soni
- 2. Definition of Project Management • Project Management has evolved to o plan, o coordinate and o control the diverse tasks • of modern industrial, commercial and management change.
- 3. • The purpose of project management is: o to foresee and predict the pitfalls and problems that may arise during the course of the project and to plan, organize and control all the tasks so that the project is effectively completed within the time frame and the budget, in spite of the risks. o The process of project management starts before the first resource is committed to the project and continues till the product or the service is successfully delivered
- 4. 1.4.1 Definitions and Terms • Project Management includes five different processes, -They are: 1) Process of Initiation 2) Process of Planning 3) Process of Execution 4) Process to Monitor and Control Projects 5) Process to Close the Project
- 5. • 1) Process of Initiation: o This process involves clarifying the business needs, identifying the audience and assessing their requirements, defining the expectations from the project, resource and budget allocation • 2) Process of Planning: o This process plans the project and details the scope of the project, allocates resources, sets time frames, analyses risks, as well as approaches to project communication and quality. Also the procurement of the goods and services for the project are managed during this process • 3)Process of Execution: o This process involves managing of the project team, implementing the project plan and communication with the individuals (both management and customer) about the progress of the project • 4) Process to Monitor and Control Projects: o This process involves tracking and measuring the progress of the project plan and taking necessary corrective measures if the activities aren’t progressing in accordance with the plan and ensure that the desired results are achieved • 5) Process to Close the Project: o This process includes wrapping up all the activities of the project
- 6. • Project Management covers nine knowledge areas, • they are:
- 7. 1.4.2 Project Management Application Areas 1. Sales, law, manufacturing, marketing, and any other functional disciplines seen in almost all the companies. 2. Technical disciplines such as mechanical engineering, architectural design, software development, pharmaceutical sciences, bio- sciences etc. 3. Management categories such as consulting, research and development, and community development.