PROJECT MANAGEMENT

Project management



Project management

Introduction

The paper summarizes the concept of the project and project management. It involves the ideas and processes which are crucial to the success of a project.

Project

A project is a temporary endeavor undertaken to create a unique product, service or result. A project is a sequence of unique, complex, and connected activities having one goal or purpose and that must be completed by the time, within budget, and according to specifications.

Project vs. Operations

The major difference between project and operations is that the project is temporary whereas, operations are ongoing. Projects have specified start, and end dates and they are completed when the goals are accomplished. Operations involve work that is ongoing and does not have specified end dates (Kerzner, 2009).

Project Management

Application of knowledge, skills, tools and techniques in order to meet or exceed stakeholders' expectations while using resources efficiently and effectively. The project management team must identify the stakeholders, determine their needs and expectations, and manage and influence those expectations.

Project Management Processes

Initiating the Project- Since the formulation of an idea through to implementation and evaluation of a business case and establishing the priority of an idea for a possible project in relation to plan activities of government / ministry to other organizational priorities and resource limits.

Developing the Plan- It is important to carefully plan the project to ensure the efficient allocation of resources to project activities and implementing them. At this stage, we establish the general structure of the project activities and the work plan and schedule that will provide the basis to the process of project management throughout its life cycle.

Execution- The project activities are executed, monitored and measured according to plan and organizational structure of the project were defined in the previous step.

Monitoring & Controlling- The stage of the project includes not only the completion ...