Project Management

Project management is one of the many important parts of management. The topic includes a series of activities which work to achieve defined objectives and results within a specific time frame. Every project has a specific beginning and end time. It also, however, has a defined scope and a certain amount of resources. An important feature of a project is that it is unique. What is common to all projects is that they use a specific set of operations (processes) designed to achieve defined results.

Project management processes include these five groups:

1. Initiating - This is the first phase of the project which defines a business case or problem. At this stage, it is necessary to define the goal that is to be achieved and how it can be achieved. A team that is working on this project gets clearly defined directions to be performed within a certain deadline.

2. Planning - The project plan includes many details about how the project work will be carried out. At this stage, it is also crucial to find a way to easily monitor and control all parts of the project and determine how you can make communication among the team faster and more efficiently. You ultimately need to recognize the most critical points of the project and to pay attention to these.

3. Executing – The team who is working on the project needs to know exactly what that project includes, the time frame, and they also need to understand the criteria by which each task in that project is deemed complete.

4. Monitoring and Controlling - Monitoring is a systematic and continuous assessment of the progress of the project, which includes monitoring of all critical parts of the project, such as: costs, time frame, resources etc. Controlling represents a group of actions which are focused on correcting actions and materials which do not meet the standards and need to be re-done.

5. Closing – This is the final stage of the project where it can be formally closed and given a final review. Experience that is collected on this project should be used on every new project. In this way the team working on a similar project will make fewer mistakes and thus save time.

Project management has wide application in all areas of science and business.  We can use project management in sports, civil engineering, biology, and many other areas.

Who is a project manager? This is typically a highly educated person with a bachelor’s or master’s degree in a relevant field such as economics or management. The project manager is the person who manages the project and is responsible for the successful completion of it. 

A good project manager should possess these attributes:

• effective communication skills
• expertise
• enthusiasm
• teamwork orientation
• ability to prioritize
• integrity
• empathy towards team members
• good coping skills under pressure
• ability to solve problems

Why is project management important?

     Project management is important because it helps the organization to complete a project with minimum cost, resources, time etc. It is beneficial to utilize a professional project manager to undertake a specific project.  

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