Project management dates back to the early 1950s in its contemporary form, although its roots date back to the latter years of the 19th century. A defined method of project management emerged as companies realized the advantages of organizing job around projects-recognizing the critical need to communicate and coordinate work across departments and professions.
Project management relies mainly on planning, handling and arranging the funds accessible. Some of the components of project management are to direct the project team effectively through all stages and effectively implement the project. Other operations include the identification and efficient management of the life cycle of the project and its implementation in the user-centric development method.
Project Management Institute (PMI) defined Project Management as "the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet the requirements of a particular project."
An easy project management definition involves a few main premises:
Often, a triangle is used to summarize project management, frequently referred to as the "triple constraint." Time, price and range are the three most significant variables. These shape the vertices as the main feature of value.
Generally, there are four key elements in the “triple constraint”:
A project runs through six stages during its lifecycle:
Accountability of the entire project is the role of the project manager. The task of the project manager is to guide, monitor and regulate the project from start to finish. Project managers should not perform the tasks within the project - it is sufficient to manage the project. Here are some of the operations undertaken by a project manager:
A project manager must have a range of competencies:
Projects and project management procedures differ with each project due to their size and complexity. Project managers should gather a thorough knowledge of project demands and implement all stages of project management to perform the project efficiently.
Project management is all about establishing an atmosphere and circumstances for achieving a specific goal or objective with a group of individuals in a monitored way.
If you are acquainted with what project management entails, from the phase to mitigating everything that might (and often does) go right, you will influence the end outcome-whether you are first involved in a project methodology or a trained professional.
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