Project Management is a very challenging yet interesting field. In this article, you will read about basic concepts of project management and answers to some queries which usually prompt in mind when you are new to project management. Let’s start with a wise saying:
“Management is, above all, a practice where art, science, and craft meet.”
The process of practicing initiatives, plans, executions, controls, and closing for the sake of achieving targeted objectives is called project management.
The biggest hurdle in achieving project management goals is to manage the project under limited constraints.
These constraints may be resources, time and budget. This discipline revolves around management of these.
Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
Project management is a discipline which involves all the steps needed for an organized execution and maintenance of a project. It is often standardized with PMI standards but in general, every industry has its own specific standards which also vary with respect to the culture of the region.
Project management principles are applicable to almost all sectors of work life such as the IT industry, construction industry, automotive industry, telecommunications, electrical, medical, etc. This is so because every project needs to be managed and executed well to stay into budget constraints.
PMO is an abbreviation of project management office. In large size organizations, PMO is basically a department responsible for improving efficiency and standardizing processes.
Creation of project documents and best practices is one of the key roles of PMOs.
Also, they have to track metrics and offers training as well. Project progress reporting to stakeholders is also a responsibility of stakeholders. PMO helps in prioritizing the project activities.
A project manager has a bucket of activities for which he is responsible for but to be more precise, a project manager is usually responsible for:
PMI is the abbreviation of project management institute.
It is famous for awarding various project management certifications like PMP, PMI-ACP, etc.
The project management institute oversees documentation of PMBOK that is project management body of knowledge which is considered as a project management bible containing best practices as standards of project management.
The integration of tasks, tools, and processes for project transitioning from beginning to end is called the project management framework. More accurately, it refers to the phases involved in project life cycle which are already discussed above.
Agile is basically a software development methodology. It refers to the iterative development in a collaborative environment between cross-functional teams.
Following are the Skills Required for a Project Manager
Following are the Certifications of PMI
There are Total 5 Phases of Project Management They are as follows
It is the very first phase in a project lifecycle. In this phase, feasibility and projects value is measured. To decide, whether a project has to be initiated, usually 2 tools are used:
It is basically the evaluation of timeline, costs and project goals to determine whether a project should be initiated or not.
Business Case Document:
It includes financial advantages as well as justification for the need of the project.
Once the project go-ahead from initiation phase in affirmation then it requires a perfect plan for team management to stay within time and budget constraints.
Procurement, finance and resource allocation, these all parameters depends upon the project plan. Project planning is all about setting the right direction for risks handling, managing suppliers and creating acceptance.
A right project plan also demonstrates the scope, timeframe, and cost of the project. In the planning phase, the first goals are set. A popular method for goals setting is as follows:
In the planning phase, the scope of the project is well defined and the project management plan is prepared.
A Project Manager Has To Prepare Following Documents During Planning Phase:
In this phase, a project manager notes deliverables and then present them in front of customers and key stakeholders.
It’s typically the longest phase in a project’s lifecycle.
A project manager will focus on people management, processes and conveying information to team members, sponsors and stakeholders in this phase.
Multiple processes are implemented for monitoring and control phase. These processes are directly associated with cost, quality, time, issues, change and risk. Also, communications with customers and procurement are affected as a result.
Usually, in small size projects, monitoring and control are considered an easy task.
When it comes to large projects, the importance of this phase becomes very dominant as every step requires monitoring and control to avoid project delay and increased cost.
It should be cleared here that by “MONITORING AND CONTROL”, we mean the integration process.
Outcomes of this phase may include project document updates, project management plan update and Changing requests as well.
This is typically the last phase in the project management cycle. A project is closed and the overall success level is communicated to sponsors and stakeholders.
Project closure activities include documentation passing to business, handling over deliverables to customers, canceling contracts of suppliers, releasing equipment and staff.
In this very first article under the project management category, I tried to give basic knowledge about project management and its relevant terminologies. If you think that I have missed something, please suggest in the comments section.