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What is Project Management?

A project in any organization is a collaboration between departments to achieve a single, well-defined goal. The process of planning, establishing and managing resources to achieve the company goal is called project management.

Project management is essential in the production of goods and services. Each phase can be categorized as an individual project from idea generation to final product or service production. Every project needs a project manager who consistently completes the task. The project manager is responsible for appointing team members from diverse but essential backgrounds to complete the project.

Project Characteristics

Project Management Write For Us

A project is not a regular day-to-day activity of an organization but a specific, non-routine activity of variable duration that affects the company’s long-term profitability. A typical project has the following characteristics:

[Timeline: A project has a defined timeline with measurable start and endpoints.]

[Resources: A project has limited capital and labour capital.]

[Tools: Special tools and techniques are a charity for project management (Gantt charts, etc.)]

[Team: Project management requires a diverse team that spans multiple departments and functions.]

[Project Life Cycle]

A typical project is divided into the following phases. Each phase of the scheme has its position and impact on the general achievement of the project.

• Initiation Phase: In this project stage, customer feedback is analyzed and brainstormed to develop a new product or modify an existing product to meet unique needs.

Project definition phase: In this project phase, an attempt is made to define the solution to the problem posed by the customer.

Feasibility study: In this stage, project planning takes place, and specific milestones are set.

Project Execution: In this stage, all activities and milestones defined in the previous phase are carried out promptly and orderly. This phase uses the maximum of all resources.

Completion of the project: This is the project’s final phase. The final product or service is given to the operations team for profitable production in this phase.

[Project Management Activities]

[Project management actions are mainly divided into three categories: planning, scheduling and control.]

  • Planning: Planning activities include defining the project purpose, resource planning, etc.
  • Planning: Planning activities include the development of detailed project milestones and guidelines. These activities are usually carried out before the actual project start.
  • Control: Control activities include the development of budget and financial control points and measuring planned tasks.

Project management techniques

There are various techniques used for project management. Some of the methods are as follows, and they are mainly used for project planning.

  • Gantt Charts: These charts show project tasks against time. It monitors the progress of individual project tasks and shows any dependencies between them.
  • Network Planning Techniques: These techniques show the association between project activities, project duration, critical path, non-critical activity constraints, and resource utilization. There are two system planning techniques: the Critical Path Method (CPM) and the Program Evaluation and Review Technique (PERT).

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