Project Management



Abstract

In this study we try to explore the concept of Project Management in a holistic context. The main focus of the research is on Project Management and its relation with the organization's success. The research also analyzes many aspects of Project Management and tries to gauge its effect on the organization's success. Finally the research describes various factors which are responsible for Project Management and tries to describe the overall effect of Project Management on the success of the organization.

Project Management

Introduction

The term “Project Management” (PM) refers to the planning, controlling and monitoring of the projects in organizations. Many concepts and practices in project management are now well established and standardized. As part of most university programs in engineering, economics and computer science field, basic knowledge of project management is taught. There are some organizations which are dedicated to the field of project management throughout the world.

The processes of project management are fundamentally independent of industry and project content; however, based on these methods, often individual process models are derived, in which specific features of the project product or the type of project (e.g., software development, maintenance, process changes in companies), practices in each company to be considered.

Discussion

Project Management is a set of activities to achieve the main and intermediate objectives in a definite time. It encompasses, inter alia, planning, scheduling, execution and control of the tasks which are necessary to achieve the objectives of the project. Project management is an area dedicated to the effective achievement of project objectives while neutralizing the impact of existing limitations and risks, as well as dedicated to building the project team motivation and proper communication between the participants.

One of the components of project management is the practical knowledge of eliminating the risk of failure of the entire project life cycle. The risk of the project comes mainly from the inability to eliminate the uncertainty associated with future events at each stage of the project resulting from the dynamics of communication between the participants, the variable performance project teams, incorrect planning and external environmental factors (Nokes, 2007).

From another point of view, project management can be defined as the science of defining and achieving targets while optimizing the maximum possible use of resources (e.g., time, money, people, etc.). Project management is a field of activity and responsibility of many people, including the sponsor, the project manager and the project participants.

Due to the scope of authority, responsibility and level of competence required the most distinctive role in the project which is the role of the project manager. The project manager, directly involved in the process of project management, is the coordinator of project tasks among the participants of the project. The project team remains motivated in such a way to achieve the project's goals by eliminating the common problems and risks with the help of the project manager. Important responsibilities of a project manager also contain correct communication with the sponsor of the project and the project participants in order to clearly specify the direction ...