What Is Project Management - Project Management Zone

Before knowing the question regarding project management.some concepts must be clear on this subject.

what is project managementProject

You might have heard this term in your daily life. Today is the day, where you will actually understand the meaning of this term. Project can be defined as a temporary Endeavor undertaken to create a unique product, result or service.

  • A project has definite starting and ending date.
  • Project is unique output and they deliver change
  • Does not produce something repetitively
  • Project is well defined and has business case

Example of project can be construction of house or building, building a website, developing software or hardware

Management

In simple terms, management can be defined as the method of dealing with or controlling things or people. Mary parker once said about management was “it is the art of getting things done through people”. It is a specific way in which process of planning, organizing, directing and controlling activities for accomplishing the organizational goals effectively. The important 5 M of management mentioned below

  • Methods (must know the right method of doing things)
  • Material(The best possible way in which the material or resources will be used effectively)
  • Machinery(tools with which the management needs to be performed)
  • Money (Money is needed for running the organizational effective in proper way)
  • Man(man power is required, without man power no organization can be successful this is the most important part of management)

Project Management

After understanding briefly about project and management, we now collectively talk about them. In simple terms, project management is the study of knowing exactly what your goals are, what resources you will need in order to achieve your goals, how will you achieve that goal. What will be the duration for you to reach the goal? Project management focuses on the following points

  • Accomplish goals
  • Completing tasks
  • Successfully completing the project within the given scope, schedule and budget

It is carried out through the applications of methods, tools, tactics, skills, leadership, and knowledge

One important thing that needs to be highlighted before moving forward. There are 5 stages of process groups.

  • Initiating
  • Planning
  • Execution
  • Monitoring and controlling
  • Closing

PROCESS GROUPS

Initiating

The initiating process group is defined in the PMBOK (project management book of knowledge). This is the first step where the project is defined. Important part of the project is in the phase of initiation and that is project charter. The charter is the foundation stone of project management. The project charter is formally signed and authorized by someone known as project sponsor. The project charter is the base of the project. The scope, resources, mission, vision, work break down structure, project manager and project sponsor and all the important aspect is mentioned in the project charter. The project manager will also play keen role in guiding the team to successfully carried out the specific task in following the project charter.

Another important part is the stakeholder. In this identifying the people who could be affected by the project or can affect the project outcomes. Stakeholder also plays important role in the project. It can also derail the project objective. Stake holder register is designed to mention their interest, expectations, type of stakeholder, stake holder name.

Planning

Before discussion on the planning phase, very important saying which states that “if you fail to plan properly. You plan to fail” .This shows the important of planning. This is the second phase of the project life cycle. It involves creating set of strategies and plan to facilitate the team through the execution or closure of the project, This will help in managing cost, time ,quality, risk issues to ensure that the project is delivered within the specified time and within the budget . There are basic 10 project planning steps.

1 – Create a project plan

2- Create a resource plan

3- create a financial plan

4- Create a quality plan

5-Create a risk plan

6-Create an acceptance plan

7- Create a communication plan

8- Create a procurement plan

9- Contract the suppliers

10- Perform a phase review

Executing

In this phase we execute the plan through the implementation of identified actions in the plan. This is the longest phase in the project life cycle and it consumes lots of energy along with resources. This process help us you to keep an eye on time, cost, quality.change and risk issues.This is the phase in which the practically implementation starts. Some of its points are mentioned below.

1-perform time management

2- Perform cost management

3-perform quality management

4-perform change management

5- Perform risk management

6- Perform issue management

7- Perform procurement management

8- Perform acceptance management

9-perform communication management

10- Perform a phase review

Monitoring and controlling

The second last phase is known as to be monitoring and controlling. As the project is being executed, the manager of the project and the team should be involved in monitoring and controlling the project task to ensure that all the plans are working out properly and is moving along as defined in the project management plan.

There is one misconceptions that must be clear in this phase is that the monitoring and controlling begins from the moment the project is initiated and continues till project end. It ensures that the approved and authorized project is within the scope, on time and on budget. Monitoring and controlling is constantly performed throughout the life of project .If something is not working in the project then it must be changed and updated.

Closing

Closing is the last phase. In this phase the planned work is fully completed. The project manager will be checking weather all the activities in the project are fully completed or not? Has the project met its objectives? This is the ending phase of project life cycle. The report is than handled to the sponsor. In this all the deliverable are handed over to the customer. 2 important steps are then performed in this phase

  • Perform project closure
  • Review project completion

After performing this step. The project comes to the end and is finally completed.

The most important part in project management is the knowledge areas. The PMBOK (project management book of knowledge).First of all there are 47 processes that is discuss in the PMBOK guide. As we are talking about project management. The knowledge areas are very important. The list of project management body of knowledge areas are mention below.

PMBOK knowledge areas:

Project management knowledge areas Project integration management

      Integration management is a group of all the processes required to ensure that various essential elements of the project are properly coordinated. It provides overview of the following Project charter, Project scope, Project management plan, project execution, project monitoring and change control are part of integration management. Good teamwork is required for good project integration.

Project scope management

Scope can primarily concern with defining and controlling what is and is not included the project. Scope has two different uses. One is of product scope and other is the project scope. Defining and documenting all the task or work comes under scope management. The project team must be aware of the deliverables of the project. All the detail knowledge regarding the scope is described here. The answer of the question such as what to expect from this project is answer in this phase. There are 5 processes in scope management process

 

  • Collect requirements
  • Define scope
  • Create work break downs structure
  • Verify scope
  • Control scope

Project time management

This knowledge area is basically related to skills, tools, techniques used to manage time when trying to accomplish specific task, projects and goals. This is very important knowledge area because there is a famous quote saying “Time is money”. The drawback of not understanding this knowledge area results in delaying the project. It has total six sub processes.

  • Define activities
  • Sequence activities
  • Estimate resource required
  • Develop and control the schedule.

Project cost management

This knowledge area is concerned with planning and controlling the budget of company, project or business. Every project has a defined budget. In this knowledge area activity such as planning, estimating, funding, managing and controlling cost occurs so that the project can be completed within the budget decided. This knowledge area is important. Poor project cost management can cause failure of the project. A good project manager will definaletly keep an eye on the costing .It contains 4 processes.

  • Plan cost management
  • Estimate cost
  • Determine budget
  • Control cost

Project quality Management

Project quality management is the 5th knowledge area within the Project management body of knowledge. In this knowledge area quality is the main focus. The concept of quality and grade is also described in this area. There are 3 processes that are discussed in this part. The more the quality will be, the more the customer will be satisfied. This is important pillar in the project.Id the quality of the project will be good. It will survive for long period of time. At the end, the project should exactly be according to the customer demands and needs in order to be called as high quality project. Its process are mentioned below

  • Plan quality management
  • Manage quality
  • Control Quality

Project human resource management

Project human resource management is the 6th knowledge area within the PMBOK.This knowledge area is ignored most of the time sue to which certain problems during the project arises .this includes the processes to manage, organize, guide and lead the project team. Human resource management refers the process of recruiting, hiring, deploying and managing employees in the organization. Its functions are employee recruitment, learning and training, law and compliance, succession planning .Its processes are mentioned below

  • Develop human resource plan
  • Acquire project team
  • Develop project team
  • Manage project team

 Project communication management

Project communication management is the 7th knowledge area within the PMBOK. Communication is very important in every aspect regarding to the project. If the communication is good, Most likely the chances of the project being successful are really high. Communication is the project’s manager most important skills. Communicating effectively with the team and regular will be best for the project. Here are some steps that project manager need to undergo to ensure continuous communication through the whole project time spam.

  • Identify stake holder
  • Plan communication
  • Distribute communication
  • Manage stake holder expectation and report performance

Project risk management

Project risk management Is the 8th knowledge area within the PMBOK.A situation involving exposure to danger is considered to be risk. There can be many risks in the project. This process is basically a process of identifying, analyzing and responding to any sort of risk that arise during the project or life cycle of the project to help the project to remain stable on its path and meet its objective. Risk can have positive or negative impact on project’s timeline depending upon the situation. Good project manager will have mitigation strategies to overcome risk situations. There are some situations in which minor risk are ignored but due to this these minor risks are then slowly converted into big risks and afterwards problems starts. Here are some activities that project manager will have to undertake in project risk management,

  • Identify the risk
  • Analyze the risk
  • Evaluate the risk
  • Treat the risk
  • Monitor and review the risk

 

Project procurement management

All the aspects related to purchasing and acquiring of product and services needed to complete project effectively manner. This process is usually conducted through contracts or agreement. It is responsibility of project manager to  make this process transparent . The better understanding both the parties have weather if it’s the seller or buyer. It will be benefit for both of them. Techniques known as cost benefit analysis, cost utility analysis are also described in this knowledge area. Its steps are mention below

  • Conduct procurement
  • Control procurement
  • Close procurement

Project Stakeholder management

Stakeholders can be defined as an individual, group or organization that may have an effect on, be affected by decision, activity or outcome of project. Stakeholder plays an important role in the project. A good project manager develops consensus among the stakeholders. Example of stakeholder can be the residents of entire neighborhood area in case of large construction projects .Its processes are mention below

  • Identify stakeholder
  • Plan stakeholder management
  • Manage stakeholder management
  • Control stakeholder management

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