How Project Management can Save You Time, Stress, and Money.
article source:-Examples of Business value added
More specifically, what is a project? It's a temporary endeavor undertaken to create a unique item, service or outcome.
A project is temporary since it has a defined beginning and end in time, and therefore defined resources and scope.
And also a project is unique in that it is not a routine surgery, but a particular set of operations designed to accomplish a singular goal. Therefore a project team regularly includes people who don't normally work together -- from different organizations and across several geographies.
The development of applications for an improved business process, the construction of a building or bridge, the aid effort following a natural disaster, the expansion of sales to a new geographical market -- all are projects.
And all must be managed to deliver the on-time, on-budget results, learning and integration which associations need.
It has always been practiced , but began to emerge as a distinct profession from the mid-20th century. PMI's A Guide to the Project Management Body of Knowledge (PMBOK® Guide) identifies its recurring components:
Project management procedures fall into five groups:
Initiating
Planning
Executing
Tracking and Controlling
Final
Project management knowledge draws on ten areas:
Integration
Scope
Time
Price
Quality
Procurement
Human resources
Communications
Risk management
Stakeholder management
All management is concerned with them, of course. But project management brings a special focus driven with the goals, resources and schedule of every project. The worth of that focus is proved from the rapid, global growth of project management:
As a recognized and tactical organizational proficiency
As a subject for training and education
As a career route
They are organized, enthusiastic and goal-oriented who know what projects have in common, and their strategic role in how companies succeed, change and learn.
They like the organized adrenaline of new challenges along with the responsibility of driving business benefits.
They operate well under pressure and are comfortable with change and complexity in dynamic environments. They could change readily between the"big picture" and the small-but-crucial particulars, knowing when to concentrate on each.
Project managers cultivate the people skills necessary to develop communication and trust among all of a project's stakeholders: its sponsors, people who will use the project's results, those who control the tools needed, along with the project group members.
They have a wide and flexible toolkit of methods, resolving complex, interdependent activities into jobs and sub-tasks that are documented, controlled and monitored. They adapt their approach to the context and constraints of each project, understanding that no"one size" can fit all of the variety of projects. And they are constantly improving their own and their teams' abilities through lessons-learned testimonials at project completion.
Project managers are located in every type of organization -- as workers, managers, contractors and individual consultants.
And they are in increasing demand globally. For decades, since the speed of economic and technological change has quickened, organizations are directing more and more of their energy into projects rather than regular operations.
Nowadays, senior executives and HR managers comprehend project management as a strategic competence that's indispensable to company success. They are aware that skilled and credentialed practitioners are among their most precious resources.
Does this describe you? Interested in a career in project management?
project management Definition
Project management is the use of processes, processes, abilities, knowledge and experience to attain specific project objectives according to the project approval criteria within defined parameters. Project management has final deliverables that are restricted to a finite timescale and budget.
A key component that distinguishes project management from only'management' is that it's this final deliverable and a finite timespan, unlike management that's an ongoing process. Due to this a project professional needs a vast range of skills; frequently technical skills, and surely people management skills and good business awareness.
What's a project?
A project is a distinctive, transient effort, undertaken to achieve intended objectives, which might be defined in terms of outputs, results or benefits. A project is usually regarded as a success if it achieves the objectives according to their approval criteria, in an agreed timescale and budget. Time, cost and quality will be the building blocks of each project.
Time: scheduling is a selection of techniques used to develop and present schedules that reveal when work will be performed.
Cost: how are necessary funds obtained and finances handled?
Quality: how will fitness for purpose of these deliverables and management processes be assured?
The Way to start in project management
Starting out in Project Management is the essential guide to the basics of project management.
You will learn about the basic features of project management, such as possession of the business case, engaging with stakeholders and realising the all-important benefits of the project, and much, much more.
Project management is geared toward producing an end product which will effect some change for the sake of the organisation which instigated the project. It's the initiation, planning and management of a range of tasks needed to deliver this end product. Projects that need formal management are those who:
Project management is geared toward producing an end product which will effect some change for the sake of the organisation that instigated the project. It's the initiation, planning and control of a selection of tasks required to deliver this end merchandise. Projects that require formal management are such who:
Produce something new or altered, abstract or concrete;
Are likely to be complex in terms of groups or work involved;
Need the management of change;
Require the management of all risks.
Providing a greater likelihood of attaining the desired result;
Ensuring effective and best value use of resources;
Fulfilling the differing needs of their project's stakeholders.
Projects are different from business-as-usual activities and happen when an organisation wants to deliver a remedy to set requirements within an agreed budget and period. Projects require a group of people to come together briefly to focus on specific project goals. As a result, successful teamwork is central to successful projects.
Projects require a group of people to come together briefly to focus on specific project goals. As a result, effective teamwork is essential to successful projects. Project management is concerned with managing discrete bundles of work to achieve certain objectives. The way in which the work is handled depends upon a wide variety of factors.
The scale, significance and complexity of the job are obvious factors: relocating a little office and organising the Olympics discuss many basic principles, but provide quite different managerial challenges. Objectives could be expressed in terms of:
Outputs (such as a new HQ building);
Results (such as staff being relocated from several locations to the new HQ);
Strategic objectives (such as decreasing the organisation's share price in three years).
Who utilizes project management?
Anyone and everyone manages projects, even when they are not formally known as a'project manager'. Ever organised an event? That's a project you handled with a team of individuals, and project management is life skill for all. More formally, projects harvest in all businesses and company:
Transport and Infrastructure
IT
Product manufacture
Building and Structure
Finance and Law
What Is Project Management?
To define project management, one has to define a project. Anything which has a beginning, a finish and creates a deliverable is a project. Project management, consequently, is the method in which a project is planned, monitored, controlled and reported on--in other words, handled.
That's a lot.
They develop a plan which meets the stakeholders' expectations and assembles a project team. The project manager then controls and monitors the execution of the project until a superior deliverable is produced. This is often done with the assistance of project management software.
What Is Project Management Software?
Project management software is a system that helps managers plan, monitor and report on projects; it helps teams manage their work and collaborate, also. Good software empowers project teams, so that they can manage all the details that go into an effective project.
If you need help with your projects, and are looking for a better way to handle your tasks and teams, take a free trial of ProjectManager.com today.
What's the management process?
5 project management stages
Here are just five project management phases you can utilize to deliver a successful project outcome.
Initiation or Definition Phase -- This measure contains the formal start of the project and the extent explanation. Your Stage 1 documentation will include your concept description statement that has the objectives based on the purpose of the project in addition to the desirable outcome in detail. Once you receive approval, you'll draft your proposal including your risk calculations, finalizing everything on your project charter.
Planning Period -- The project manager formulates the best strategy for the team to do the customer objective. It may fall upon the project manager to select his/her team members, in addition to requisitioning different sources. Setting the timeline, schedule and communicating lines would also occur during this phase.
Execution Period -- The project manager will change focus during this stage. He/she will implement and manage all activities that produce the result as outlined in the project plan. Prepare for this stage to take up the maximum time, resources and energy.
Control Phase -- Execution and management happen simultaneously. The project manager monitors the group promising that the projected performance from the preparation stage becomes a reality.
Closure Phase -- Throughout this last phase, the project manager will facilitate the finalization of any administrative tasks, reporting documentation updating and present the resulting deliverable to their executive direction. You can compute your personal managerial and your project team's achievement by answering a single significant question. Did you meet or exceed the customer requirements for the job? Most likely, your client's top priorities include an on-time implementation while your team comes in under budget. The client demand orders all else.
In addition to the 5 phases, the project management process includes a lot of different areas of knowledge with which every project manager has to be familiar. It is correct that each and every manager should have a basic understanding of those 10 topics. However, as applied to a particular project that includes specific goals, adherence to a strict timeline and subjection to a set quantity of funds, project managers have to pay special attention.
Integration -- This knowledge area includes all 5 project phases. Throughout integration, you will develop the plan, assess risks, and make necessary adjustments along the way to ensure a successful implementation.
Scope -- Scope summarizes stakeholder expectations. Comprehending the desirable outcome of your project is fundamental to your success as a project manager.
Time -- They say timing is everything, and keeping your project on track is of extreme importance. Time management experience can allow you to designate activities and set appropriate project milestones to meet deadlines and successfully allocate resources.
Price -- Elements of price management happen throughout the project. Properly estimating all areas of project cost and overseeing expenses throughout the project process will assist you and your staff to remain on budget.
Quality -- Making sure your PSR (product/service/result) meets the client expectations is your objective. Your project falls short in case your deliverable is anything aside from what the client and/or stakeholders require.
Procurement -- It may be that you'll need services that contribute to your project outcome which are beyond the experience of your project team. You should know how to plan for this contingency, choose an external vendor and create/closeout a contract.
Human Resources -- It might fall into you as the project manager to build your team from throughout your company's human capital pool, and possibly to bring in outside contractors too. Irrespective of your project dimensions, you ought to know how to coordinate and lead your team effectively.
Communications -- Communication is not just about the ideal details. You also have to know how and when to provide information along the way. Learn how to craft an effective message, how to get out that message and how to control project comprehension.
Risk Management -- The best laid plans sometimes do not come off without a hitch. Know how to identify and evaluate those things that can derail your project, so that through ongoing response monitoring and planning, you can mitigate delays and source over cost.
You ought to know how to create engagement and management approaches to include your stakeholders at the project outcome.
Wrap-Up
Implementing change efficiently and effectively is the project manager's job. Each project includes a specific time span during which your staff executes multiple pursuits. Your intention is to fulfill with the customer need, whether external or internal, while hitting milestone targets and staying under budget. Expertise in planning, monitoring your team and providing the support they need is the key to your successful project execution. In addition, we have a fantastic collection of posts, read our Project Management Huts.
The PMI provides solutions such as the development of standards, research, instruction, book, networking-opportunities in local chapters, hosting conferences and training seminars, and providing accreditation in project management.
website link:-The Project Management Profession
The PMP Certification
For another step toward further education in the project management area, look into attaining the most recognized accomplishment, PMP Professional Certification. This designation behind your title suggests to companies globally that you are ready and equipped to lead projects as a project manager.
wikipedia reference:-Best Project Management Training Courses online