Project Management

Project managementis termed as a methodology with planned, focused and organized effort to accomplish specific goals at one time. For example, setting up a new production plant, establishing an office, conducting event management etc. The elements of any project management that includes.

• Project plan
• Timeliness
• Resources Materials and people
• Budgets
• Other intangibles etc.

In order to be successful in project planning, it has well planned objectives to accomplish a common achievement at the end of the project schedule. Those objectives have to aligned with S.M.A.R.T principle.

• S - Smart
• M - Measurable
• A - Achievable
• R - Realistic
• T - Time bound

Project management have several national and international professional associations that certify project management and developing the project management profession globally.

• The Project Management Institute(PMI)
• The International Project Management Association(IPMA)
• The Association for Project Management- United Kingdom (APM)
• The International Project Management Commission(IPMC)

• CPM - The International Association of Project and Program Management
• Project Management Professional - PMI Certifications

Project Life Cycle:

• Project initiation phase
• Project planning phase
• Project execution phase
• Project completion

Project Initiation Phase:

• Develop a business case
• Perform feasibility study
• Project charter establishment
• Project team appointment
• Set up project office
• Performance phase review

• The business opportunity or problem will be identified and recommended solution
• Appointment of project team
• Project objectives
• Formation of project charter that includes tasks, schedule, cost and other project deliverables such as vision, scope etc..

At the end of this phase, performance review is made to ensure that essential of this phase been completed.

Project planning Phase:

• Project plan
• Financial plan
• Quality plan
• Resource plan
• Materials resource plan
• Project risk plan
• Communication plan
• Acceptance plan
• Performance phase review

Project Planning Phase, the objectives will be meet up the expectations in the next stage i.e., project execution stage. Almost, all project deliverables are identified and defined to meet a common objective. The deliverables are resources, financials, quality, risks, communication etc.

Project execution phase:

• Build project deliverables
• Monitoring and control
• Performance phase review

Project execution phase is the longest phase in project life cycle in terms of duration. In this phase, all deliverables are physically constructed and shown to the customer for acceptance. The project in-charge will monitor and control the activities to ensure that the customer's requirements are met. At the same time, he/she has to oversee that projects are proceeding as planned by controlling the various project deliverables to accomplish a final task.

Project Completion Phase:

Project Completion Phase is the last phase of a project life cycle process. After acceptance from the customer taking into consideration all the deliverables have met its objectives and then it's ready for formal closure. It must be ensured that the customer has realized the business benefits out of this project been submitted. The overall success is determined that how well the projects have met the core objectives to delight the customers.

project management plays a vital role in todays competitive business world. The right kind of resources, approach and timeliness will give value addition for any projects to be successful. It is a kind of business tool that makes companies to complete projects effectively and efficiently.