Project Management is the process by which projects are defined, planned, monitored, controlled and delivered.
Many methodologies are widely practiced in various organizations to deliver the project. From Traditional methods such as Waterfall, PERT & Critical Path Method (CPM) followed by Process Based Methodologies like LEAN, Six Sigma to more recent Agile methodology, all of these methodologies help the Project Manager to deliver the Change in the most efficient and effective way.
pic courtesy – medium.com
As per the Project Management Institute (PMI) the project management includes the following 5 stages, which are widely embraced by the project management community :
- Initiating -To identify and define the goal of the project
- Planning – To develop the roadmap for the project
- Executing – To build the deliverables.
- Controlling – To measure project performance in terms of Safety, Cost, Schedule, Quality
- Closing – Project is completed, handed over to operations and lessons learnt.
Project Management process provides a single point of integrative responsibility i.e. the Project Manager. The Project Manager is the one who steers the Project team during the course of the project. However, the project management expertise is typically spread across the Project Team and delivery of the successful project can never be attributed to a single person but is always a team effort.
Essentially, through effective Project Management we would achieve the following :
- understand the need, problem or opportunity that the project will address.
- determine the success criteria and benefits of the proposed project.
- defining what will be delivered in terms of scope, cost, quality and schedule.
- planning and executing the deliverables.
- utilizing the resources in an efficient and optimum manner.
- delivering the benefit to the project sponsor.
A large project may be divided into sub projects with their own deliverables that will contribute to the overall project deliverable. Such projects are brought together under a programme and managed using programme management.
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