what is project management

what is project management

The Fundamentals of Project Management: A Comprehensive Guide

1. Introduction to Project Management

Project management activities are applicable to a wide range of business situations. They are redefining job descriptions, modifying the communication network in the company, establishing customer contacts, motivating people and creating teams, and sustaining the perceived “quality” level of projects. Organizations use project management for different motives and results; for example, it is used to obtain new products, developments, or improvements as part of a product development process; to improve total performance; to reduce costs; to increase the level of service rendered over time; to increase the positive feelings towards oneself conveyed by the “counseled” projects, and to reduce the number of non-performing projects and to increase the number of successful projects.

The organization uses project management principles and develops project management knowledge, uses specific management techniques, and follows project management procedures designed to capitalize on project opportunities and minimize risks, aiming to obtain the greatest advantage from the results. Organizations use projects to innovate, respond to customers’ requests and changes in business conditions, resolve important contradictions in their business portfolio, develop new products (services) or processes, introduce dimensions on the market, and implement new policies and procedures initiatives; it deals with re-engineering, territorial marketing, motivation of employees and management, and business process restructuring.

Many recent studies have shown that project management activities are the most appropriate for achieving business objectives and responding to the needs of change affecting the management automation efforts of companies and institutions. Project management is a structured and organized technique for planning and managing business changes and is an instrument often used in today’s increasingly complex and volatile business world. A project is born when an organization believes it is necessary to undertake a sequence of unique activities, which is properly coordinated to achieve specific goals, within defined time, cost, and performance expectations.

2. Key Concepts and Principles in Project Management

A project is a temporary endeavor undertaken to create a unique product, service, or result. This means that the project has a fixed beginning and a deadline. This also implies that it exists independently from the organization; it’s a one-time event. Projects are divided into tasks. To know which tasks are necessary for the project, the main feature of a project is its distinctive character. The purpose of the distinctive character is to bring about the result, which refers to the unique deliverable. A project is not only executed, but it is also managed and controlled from start to finish. The project manager is responsible for the execution of the project, defining the objectives of the project, monitoring progress until the deadline of the project, and keeping in view the project schedule, the budget, and that the project meets. The closing of the project is a crucial task for the project manager.

Project management is an increasingly important area for business as organizations around the world rush to compete. Project management can be used within a business to initiate, plan, execute, monitor, and close projects of any size. This document aims to address the most frequently asked questions about project management and to provide an all-encompassing guide to the most common terms and general concepts used in the field of project management. Our mission is to provide insights and resources to help transform your complex and difficult issues and needs into real actionable plans.

3. The Project Management Process: From Initiation to Closure

The initiation phase is the starting point of a project, followed by the planning stage. It aims at determining the overall objectives for a given project and defining how these objectives will be achieved within a stipulated time frame. The planning stage is crucial for developing the project blueprint and schedules, communicating project goals within the team members, setting quality management standards, and gaining a proactive approach to risk management. Execution follows shortly after the planning stage. This is when the project team performs tasks according to the project plan and schedules. Monitoring and control come into play by comparing whether team members’ performances are aligned with the project plan and subsequently, corrective actions are taken to secure the successful execution of the project. Lastly, the closure phase is the final part where projects are formalized and disseminated.

The project management process typically has several phases that start with project initiation and planning, which are then followed by execution, control, and closure. Typically, project managers will map this process into five stages of the project life cycle, namely initiation, planning, execution, monitoring and control, and closure. This project management process is captured in several process models or standards, and is generally recognized as the standard for managing change in an organization.

4. Tools and Techniques for Effective Project Management

The other key tool in the total project management system is the use of structured project management techniques. Particularly important are critical path analysis and program evaluation review technique (PERT). A simple overview of these particular tools in project management will be presented. The preparation and design of a project plan takes up all available project time and money, and resources are always limited. It cannot, therefore, include all the activities which the organization would like to perform. Choice involves the establishment of priorities and that always requires negotiation and the resolution of conflict. The key project management problem in establishing priorities is the potential conflict between the technical and project managers, also known as the functional specialists.

Structured Project Management Techniques

The second specific technique that can help in an overall project management system is the use of top-notch scheduling software such as Microsoft Project. Many other vendors offer versions of this type of software for almost any type of computer. The major reason for suggesting that a project manager use such software tools is that they automatically impose discipline upon the project manager. They also force the project manager to think through the stages of the project, even though the manager may only have to consider phases of the project one at a time. The subsequent leadership will then automatically follow out of the nature of having set up a workable schedule. The Project scheduling software also helps the manager keep track of all aspects of tasks, resources, and project completion.

Top-Notch Project Scheduling Software

A very important and useful first step in the practical use of project management techniques is the development of a quick and simple summary of the project’s structure. In other words, the tasks that have to be performed and the order in which they must be performed. Most projects can generally be broken down into specific sub-projects. These can, in turn, be broken down into individual tasks, which may only be one or two people tasks. The lists would then result in many summary chart structures. The summary chart would have from three to six levels.

The Work Breakdown Structure

The following discussion deals with each aspect of project management in turn.

– The work breakdown structure – The use of top-notch project scheduling software – Structured project management techniques such as those found in Critical Path Analysis (CPA) and ‘PERT’ (Program Evaluation and Review Technique) – Dealing with conflict in project management – The use of specialists

A number of tools and techniques are useful in project management. These techniques are successful because they demand that the project team break a specific problem down into distinct parts, concentrating more closely or specifically on meeting and maintaining the overall objectives of the project. Tools and techniques include:

5. Challenges and Best Practices in Project Management

Challenges facing Human Resource Management in project-oriented organizations are problems related to team formation, staff mobility, staff instability, lack of training, problems related to temporary work, and abandonment. The lack of a greater approach and best practices promotes failure by a broad margin. Best practical sessions: 1) “Success comes from creating an environment in which original thinking arises and is aware of it”. 2) Resources skilled to intervene in projects have a significant effect on performance, as well as a constant historical commitment, lower costs, and higher retention of employees. 3) Working space flexibility can improve personal performance. 4) Measuring and evaluating the skills required to bridge the gap can ensure that key skills are through training programs. 5) Training requirements should be linked to personal development and learning plans that respond to business needs. 6) Establishment of a series of metric measures to evaluate the saving resources learns the financial effect. 7) Ensure that the right project is allocated to the right project. 8) The best project management practices allow planning to show flexibility to feasibly address risks associated with project execution. 9) The delivery of measurable business benefits is one of the important business goals if you are going to deliver any project value. 10) Assistance, monitoring, and job participation are critical in learning experiences and can gain from learned experiences.

One of the biggest barriers project managers face is completing projects under standard constraints and obstacles. The typical project management innovation team will have a conflict with available resources, expensive training and necessary skills, unreasonable deadlines, to include requirement changes, and large scope. The external project management environment, in addition, includes factors such as unemployment skilled project managers in meeting and leading complex initiatives and programs, presenting enterprise value, variation in technology, reducing the risk of various project-related problems and issues, and organization innovation interest. The organizational environment involves weak competition from the established project management consulting and training market, the deficiency of project management tools, promoting good practices, the need to involve vulnerable personnel, the presence of a project management corporation, and weak project performance.