What Is Project Management?

Projects, which are often temporary and specific in scope and design, are important elements in business, the home and life in general. They have a focus and usually occur once and they may be used for an event such as a wedding, starting a new job or service, developing a product or launching a marketing or political campaign. In order to carry out these activities in a well-organized and successful manner, you will need the use of project management. This is the process of putting together the various parts of a project by using techniques, expertise and knowledge.

Regardless of the type of project, there are five basic guidelines or processes that are required in project management. They are:

•Project Definition
This involves detailing what the project will require as well as the goals to be achieved. It also outlines the items necessary for the project and outcomes expected based on the activities involved. The project manager works with other personnel such as business managers and other stakeholders.

•Project Planning
This stage describes all the activities in the project, including a listing of all the tasks and their relationship to each other, the time allotted to each activity and how the activities affect the project deadline. Project planning also details all that is required to complete the job, such as the resources, costs, constraints as well as risks involved.

•Project Execution
The actual work on the project takes place at this stage and it involves allocating the resources such as people, money and time.

•Project Monitoring and Controlling
As changes occur during the project, they need to be updated. Project managers often use project management tools and software to administer and track the progress of the job and to make adjustments where necessary.

•Project Closing
The final analysis of the project's outcome is carried out by the project team, business owners and stakeholders at the closure of the project.

In order for project management to be both efficient and effective, there are several significant components that need to be addressed. These include the scope of the project as it relates to the size, goals and requirements, the cost of the project and the time, duration and schedules. Resources such as people, materials and equipment are key building blocks to the success of project management as well as the quality and procurement of these assets. Communicating and integrating the project components and practicing proper risk management are also essential.

Since some projects may be large and complex, project management tools and techniques are required to successful manage them. These may include Fishbone Diagrams, which looks at cause and effect relationships, brainstorming by offering random and creative ideas as a group and critical path analysis, which is a flow chart showing activities and their interdependence with each other.

Overall, project management provides a roadmap to move from the beginning to the end of a job, using resources and providing tremendous benefits such as structure, flexibility, problem solving, efficiency and customer satisfaction.

----------------------------------------------------
For more information visit http://www.qa.com/

EasyPublish this article: http://submityourarticle.com/articles/easypublish.php?art_id=203191