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Project management is a set of activities which includes initiating, planning, executing, controlling and closing projects. It’s a discipline that gives you principles, techniques, and tools to help you finish things on time and within budget.
“Another definition of Project Management by PMI goes thus : the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet the requirements of a particular project”
Phases of Project Management
- Project conception and initiation : recognising the beginning of the the project or a phase and that one phase can continue into the next one. Initiation process keeps the team focused on the business or halt the project if it fails to meet all the needs and preferences.
- Project Forethought : A project plan, project charter and/or project scope may be put in writing, outlining the work to be performed. During this phase, a team should prioritize the project, calculate a budget and schedule, and determine what resources are needed.
- Project Engineering : Carrying out the processes which are followed by regular information distribution and team development.
- Monitoring and controlling : Controlling the quality of project results, observing significant changes and making necessary adjustments to the project
- Project Closure : When closing the project, the project manager will review all prior information from the previous phase closures to ensure that all project work is complete and that the project has met its objectives.
Benefits of Project Management .
**. Better Efficiency in Delivering Services: Project management provides a “Chart” that is easily followed and leads to project completion. Once you know where to avoid the depression, it stands to reason that you’re going to be working smarter and not harder and longer.
**. Enhanced Customer Satisfaction: Whenever you get a project done on time and under budget, the client walks away happy. And a happy client is one you’ll see again. Smart project management provides the tools that enable this client/manager relationship to continue.
**. Improved development and growth within your team : Positive outcomes from your project will motivate your team and it will keep on looking for approaches to perform in a more effective manner.
**. Better flexibility : The greatest advantage of proficient management is extreme adaptability. It permits you to firmly delineate your methodologies on how you need your projects to get finished.
**. Increased productivity : Increment in quality and superb management will automatically lead to greater productivity.
**. Increased risk assessment : At the point when all project players are lined up and your technique is set up, then all potential risks will bounce out and may slap you in your face. Effective management of projects helps you in evaluating the dangers and cautions you in time, even before you begin working on any project.
** Team Accountability : The project manager holds team members accountable and ensures that they honor their commitments. If there were no one to hold the team accountable, there would likely be schedule slippage and missed dependencies. There are many requests on the team to do other things. The team could easily be distracted or asked to re-prioritize work that could result in risk to the project.
** Clearly defined scope : The project manager works with the customers and team to ensure that the scope is well-defined from the outset. This enables the team to write clear requirements, and everyone has the same understanding of what to deliver at the end of the project.
** Budget and Cost Management : The project manager has her eye on project spending through the course of the project, ensuring that it stays on budget with no surprises.
** Conclusion :
Project management enables team members to run the project from the initial to the final phase in the most cost-effective and efficient way while keeping everyone in the loop.