What is Project in Project Management?

Project Management is a critical process that makes a business work. It facilitates coordination between team members and resources for attaining the business objective. As most Projects are complex with multiple aspects, they require careful thought, planning, and execution. It calls for a structured approach that can function within the resource and time constraints. This has given shape to a new discipline called Project Management.

Learn what is Project and be better equipped to handle the multi-faceted elements of a Project across the entire Project lifecycle. Get a handle on Project Management and understand what it means for your career growth. Master the intricacies and learn to navigate the various stages of a business Project.

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The relevance of Project Management today

Project roadmap Management is applied in all industries, from non-profit, governmental, corporate to mid-sized businesses.

It helps boost productivity, enable efficient resource allocation, improve Project transparency, develop team morale, increase quality control, and support higher customer satisfaction. With cloud computing and sophisticated tools to better manage Projects across locations, companies can manage large Projects and reap the benefits of well-planned and executed Projects. The coordinated implementation helps undertake large Projects across company offices, with efficient team management and resource use. Ultimately, companies can complete Projects within the schedule and with minimum obstacles to satisfy customers.

What is a Project

The PMBOK (Project Management Body of Knowledge) 3rd edition defines a “Project” as a “temporary endeavor with a beginning and an end and it must be used to create a unique product, service or result”. A Project is a temporary or transient activity that does not continue indefinitely but has a defined time-frame, budget, and unique deliverable. Deliverables could be quantified as outcomes, benefits, products or services, achieved through planning.

A Project is a unique activity with set criteria and objectives, and thus routine activities cannot be considered Projects. For instance, the building of similar office premises where each individual office is unique in some way.

A Project may also be a series of tasks that has a defined set of inputs and outputs in order to achieve a specified outcome. Projects can be simple or complex, managed by one person who is the Project leader or a hundred Project supervisors spread across departments, enterprise units or offices. The Project leaders manage the team members assigned to the specific Project to administer logistics and implement the Project on time. For better Project efficiency, a Project may be split into manageable chunks with deadlines and accountability for each milestone.

Projects are progressively defined with tasks to be completed in each of the stages and evolve incrementally. So at the outset, a Project is first defined and the same revisited with Project progress, with changes in the implementation and underlying techniques.

Thus, a Project is a planned, organized, and goal-oriented task or series of jobs that simplify complex deliverables by applying processes, techniques, tools, knowledge, skills, and experience to achieve particular Project objectives.

A Project has the following elements:

Time: Every Project has a deadline or fixed timeframe that must be adhered to for Project success and customer satisfaction.

Cost: This sets out the necessary funds, and ways to manage and allocate the finances across the entire Project lifecycle.

Quality: The methods for ensuring quality control are pre-defined, and the same is followed strictly through the various stages of Project implementation.

The Principles of Project Management

Although Projects differ across industries with diverse working styles, certain core principles are uniform. So whether you are a novice or an experienced practitioner, use these principles as the framework to make your Projects successful. No Project plans are the same, and there is no one-size-fits-all approach, but these principles can help you achieve your project milestones and goals.

Principle 1: Build clear Project goals

Project goals must be clear, brief, realistic, reasonably time-framed, and measurable. Setting clear Project goals helps track progress, measure and appreciate team member achievements and complete Projects within time.

Principle 2: Manage risks

Be ready for the unexpected glitch or delay and create fail-safe Project schedules with buffers and team backups to anticipate and mitigate risks. Conduct brainstorming sessions, risk assessments, and design response plan to manage risks.

Principle 3: Create performance criteria

When fleshing out the Project plan, it is necessary to create performance criteria and KPIs (key performance indicators) to measure them. Having a standard helps keep Project elements like cost and time in check and make appropriate adjustments for any changes.

Principle 4: Keep up a healthy communication

A Project involves the inputs of team members, and communication is critical for successful Project Management. An ongoing line of communication with the team and Project stakeholders helps execute the Project efficiently with minimal conflicts and silos.

Principle 5: Describe team responsibilities

By defining the responsibilities of team members, you can manage risks better and avert confusion and communication gaps during the execution stage of the Project. Who is responsible for which task? Who will delegate and review on completion? How will you be in the know about Project progress? One of the most convenient ways of doing so is using an online fax using gmail service provider like CocoFax

What using an online faxare the essential skills for managing a Project

Project Management is a methodology learned and fine-tuned with time and experience. Today there are many tools available for Project managers. Nevertheless, they need to have essential skills to execute their Projects efficiently and manage their teams.

Beginning with leadership and communication skills Project managers, are also required to have critical thinking and good negotiation skills. Patience and tech-savvy are other requirements. The ability to schedule and implement along the baseline, manage risks and budgets, supervise tasks and maintain quality of deliverables are skills required for successful and timely implementation of projects.

Summary

There are various kinds of Project Management techniques and software available today. It is for you to find the method and systems that work best for your Projects.

With the skills to identify and spearhead projects, you can bring positive change to your workplace. Knowledge of Project Management means your employer can include you in Projects where you can display your learning and newly acquired skills.

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