WHAT IS PROJECT MANAGEMENT

Introduction

Project management is the process of leading the work of a team to achieve all project goals within the given constraints.This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, budget.^[The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives.

The objective of project management is to produce a complete project which complies with the client’s objectives. In many cases the objective of project management is also to shape or reform the client’s brief to feasibly address the client’s objectives. Once the client’s objectives are clearly established they should influence all decisions made by other people involved in the project – for example project managers, designers, contractors and sub-contractors. Ill-defined or too tightly prescribed project management objectives are detrimental to decision making.

A project is a temporary endeavor designed to produce a unique product, service, or result with a defined beginning and end (usually time-constrained, and often constrained by funding or staffing) undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value.The temporary nature of projects stands in contrast with business as usual (or operations),^[ which are repetitive, permanent, or semi-permanent functional activities to produce products or services. In practice, the management of such distinct production approaches requires the development of distinct technical skills and management strategies.

Approaches of project management

aligned with the contextual dynamics affecting the project, these are referred to as the four P’s:

• Plan: A 2017 study suggested that the success of any project depends on how well four key aspects are 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, organograms, policies for implementation and the like.

• There are a number of approaches to organizing and completing project activities, including: phased, lean, iterative, and incremental. There are also several extensions to project planning, for example based on outcomes (product-based) or activities (process-based)

Types of Project Management

Many types of project management have been developed to meet the specific needs of certain industries or types of projects. They include the following:

1. Waterfall Project Management

This is similar to traditional project management but includes the caveat that each task needs to be completed before the next one starts. Steps are linear and progress flows in one direction—like a waterfall. Because of this, attention to task sequences and timelines are very important in this type of project management. Often, the size of the team working on the project will grow as smaller tasks are completed and larger tasks begin.

2. Agile Project Management

The computer software industry was one of the first to use this methodology. With the basis originating in the 12 core principles of the Agile Manifesto, agile project management is an iterative process focused on the continuous monitoring and improvement of deliverables. At its core, high-quality deliverables are a result of providing customer value, team interactions, and adapting to current business circumstances.

Agile project management does not follow a sequential stage-by-stage approach. Instead, phases of the project are completed in parallel to each other by various team members in an organization. This approach can find and rectify errors without having to restart the entire procedure

3. Lean Project Management

This methodology is all about avoiding waste, both of time and of resources. The principles of this methodology were gleaned from Japanese manufacturing practices. The main idea behind them is to create more value for customers with fewer resources.

There are many more methodologies and types of project management than listed here, but these are some of the most common. The type used depends on the preference of the project manager or the company whose project is being managed.

Project management is about knowing exactly what your goals are, how you’re going to achieve them, what resources you’ll need, and how long it will take you to reach that specific goal. In fact, project management’s goal is to make sure that everyone involved in a project knows these and is aware of the purpose of the project.

The discipline itself is an organized manner of managing a project from its beginning to a defined ending. All projects need a structure. Hence, the complexity and length of the project are equivalent to a more advanced and detailed project plan.

Almost every project goes through these five steps during its life cycle:

1. Discover what the client needs to determine the project’s goals.
2. Elaborate a plan that will tell you what needs to be done, by whom, how much it will cost, and when the project should be delivered.
3. Start working.
4. Check if work goes according to the initial plan, identify problems, and make adjustments.
5. Deliver the project and close all contracts once you get the client’s approval.

Sometimes, projects can follow four phases if project execution is done together with monitoring activities. If you’d like to know more about these, check out this The “project manager” is in charge of the planning and execution of a project. He makes sure that everything is following the client’s vision and quality standards. He will also be held accountable for the project’s success or failure. People have been “managing projects” for centuries. They went from using traditional tools such as pen and paper to the use of advanced technologies.

The importance of project management

Why is project management important? Without the concept of project management, a project’s development would be chaotic. The discipline’s main goal is to ensure that everyone involved in a project knows exactly what needs to be done, how much time they have to complete an activity, what resources are available, and whom they should talk to in case they encounter a problem.

If everybody clearly knows what they have to do, there will be much higher chances of meeting the project’s requirements. Also, mistakes that otherwise would require additional time to fix are eliminated from the start. These could lead you to lose important data and resources in the process.

But, what makes project management successful? Its main goal is to ensure the final success of a project. A project is successful once all objectives have been followed on time and on budget and the client is pleased with the quality of the project.

Some key indicators that can show you whether a project is on track include defined goals, an organized project plan, team collaboration and commitment, enough funds and resources, respected deadlines, few errors, and effective mistake correction.

The main benefits of using project management principles in your daily work are:

• You can see what task you’re assigned to and which resources should be used including budget and available tools.
• By tracking your time, you can create timesheet reports, analyze them to find free time for additional tasks, establish the next steps of the project, or estimate deadlines for future projects.
• The monitoring stage of project management allows you to identify errors and mistakes whenever they occur through a detailed look at what all employees are doing and which resources they are using.
• Assign a team member to solve a problem using available resources within the available time frame.
• Different team members can be assigned to a project or task and collaborate in real time to successfully complete it.
• Through project transparency, everyone in charge of a project will be able to see what the team is working on or bring their own contribution to the development of the project.
• Project management allows you to gather information, log data that was not predictable on the go, and use it to make the right data-based decisions.
• Allow your client to see everything that’s going on with the project and suggest improvements whenever something is not going according to the project vision.

Project management might look complicated, but chances are you’ve already been involved in a process such as this one. So next time you’re planning your friend’s birthday, know that you’re actually working on a project and you are your own project manager.

If you’re interested in a project management career or you’re just starting a new PM role, project management software can always help you sort and manage your activities. One such tool is Paymo as it lets you keep all project details and documents in one single place.

FAQ

1.What is project management in simple words?

Project management is the application of processes, methods, skills, knowledge and experience to achieve specific project objectives according to the project acceptance criteria within agreed parameters. Project management has final deliverables that are constrained to a finite timescale and budget.

2.What is project management definition?

Project management can be defined as the discipline of applying specific processes and principles to initiate, plan, execute and manage the way that new initiatives or changes are implemented within an organization.

3. What is project management and its types?

Key Takeaways. On a very basic level, project management includes the planning, initiation, execution, monitoring, and closing of a project. Many different types of project management methodologies and techniques exist, including traditional, waterfall, agile, and lean.

4.What are project management skills?

Project management skills refer to the core abilities that are necessary to successfully bring a project from start to finish. For example, a project manager must be organized, knowledgeable and able to multitask. They must also be a good communicator, strong leader and effective problem-solver.

5.Why do we do project management?

Project management is important because it ensures proper expectations are set around what can be delivered, by when, and for how much. Without proper project management, budget estimates and project delivery timelines can be set that are over-ambitious or lacking in analogous estimating insight from similar projects.

6.What do project managers do?

In the broadest sense, project managers (PMs) are responsible for planning, organizing, and directing the completion of specific projects for an organization while ensuring these projects are on time, on budget, and within scope.

7. What qualifications do you need to be a project manager?

Qualifications needed to be classed as a project manager

• APMP/ APM PQ (practitioner qualification)
• APM RPP (registered projectprofessional)
• PRINCE2 practitioner.
• PMP (certified project managementprofessional)
• CMI diploma in project management.
• 8.Can I be a project manager with no experience?

For those with plenty of informal project management experience, certification can help you transition into becoming a full-time project manager. For those with little to no experience, the education requirements for certification can give you a head start on gaining the knowledge needed to land a project manager job.

9.What is the career path of a project manager?

Often, a project manager begins their career in management at a consulting firm. This firm provides training in management methodology. In many cases, this individual starts as part of the team working under a project manager and works their way up into a management position.

10.Senior Level Positions

ProjectLeader: Just a different title for the project manager, with the same duties and responsibilities. Program Manager: Manages a programof projects or even several programs that are usually related.

11.What are the elements of project management?

       Project Management Training

• Determine customer requirements.
• Identify scope and develop a work plan.
• Break the work down into deliverables and activities.
• Determine the sequence of activities and identify risks.
• Use basic scheduling tools and set realistic schedules.
• Establish milestones and deliverables.

12.What are the three main elements of project management?

There are three main interdependent constraints for every project; time, cost and scope. This is also known as Project     Management Triangle.

13.What are the pillars of project management?

The Four Pillars of Project Management

• A good project managerpromotes an air of collaboration. …
• Respect that each team member starts a projectwith different levels of technical or business understanding or experience. …
• Change Management. …
• Why It Matters.

14.What is the 8 80 rule in project management?

8–80 rule states that work packages must be between eight hours and eighty hours chunks of work. If the projects are big, then work packages can be around 80 hour chunks of work. For small projects the work packages can be around 8 hours, or it could be anything between 8 hours and 80 hou

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