What is Project Management?
Project management is the application of processes, methods, knowledge, skills and experience to achieve the project objectives.
A project is a unique, transient endeavour, undertaken to achieve planned objectives, which could be defined in terms of outputs, outcomes or benefits. A project is usually deemed to be a success if it achieves the objectives according to their acceptance criteria, within an agreed timescale and budget.
The core components of project management are:
- defining the reason why a project is necessary;
- capturing project requirements, specifying quality of the deliverables, estimating resources and timescales;
- preparing a business case to justify the investment;
- securing corporate agreement and funding;
- developing and implementing a management plan for the project;
- leading and motivating the project delivery team;
- managing the risks, issues and changes on the project;
- monitoring progress against plan;
- managing the project budget;
- maintaining communications with stakeholders and the project organisation;
- provider management;
- closing the project in a controlled fashion when appropriate.
Project management is no small task. It has a definite beginning and end, and is not a continuous process. Project management uses various tools to measure progress and track project tasks. Projects need ad-hoc resources, as opposed to businesses that have dedicated full-time positions.
Project management methodologies consist of four to five process groups, and a control system. Regardless of the methodology or terminology used, project management uses the same basic processes. Process groups typically include:
- Planning and Design.
- Monitoring and Controlling.