Project Management

Today, the information explosion coupled with shrinkage of

time has
made the rate of change unprecedented.
Time has become the most crucial strategic weapon to be the
market
leader.
This should have been done yesterday' is a kind of syndrome
we
are all familiar with.
In this scenario it is becoming more and more important to
manage all
our projects on time and within budget without compromising
quality.

Project Management is the art and science of managing a

project.
It can also be termed as Dream or Change management.
We can say that project management is the art and science of
converting 'vision' into reality and 'abstract' into concrete.
Worldwide, the discipline of project management is regarded
as the
most efficient way of introducing changes, which is most
crucial both at
business and personal levels.

The use of project management is so advantageous that it is

becoming
one of the fastest growing disciplines worldwide.

Project management discipline is

used to:
Successfully manage all projects
irrespective of their size or complexity.
It involves the use and application of
specific knowledge, skills, tools and
techniques to project activities to meet
the aims for which the project was
undertaken.

Project management achieves all this by

following those procedures and processes
which involve:
- making a plan to achieve project objectives/goals
and following this plan.
- managing everything that is required to achieve
project objectives safely within agreed upon time,
cost, quality, technical and other performance
criteria.
- using the most appropriate tools and techniques to
plan, monitor and maintain progress of the project.
- using persons knowledgeable about project
management to manage the project with the
competing demands of scope, time, cost, risk and
quality in the project.

Project team members have to manage all the different

persons such as the client, the customer and the contractor
who are directly or indirectly involved with the project (all
the project stakeholders. This can be a difficult task as
different stakeholders have different expectations from the
project.

Modern project management encompasses both the 'hard' side and

'soft' side of managing projects.
The hard side deals with the tools and techniques used in managing
projects
The soft side deals with the people and project teams involved in
carrying out project activities.
Project management provides a basic understanding of how we
should address project uncertainties in a planned manner through
planning, executing, controlling and closing and various issues
throughout the project's life cycle.
As the project progresses project management provides the 'single
point of integrative responsibility' that is needed to ensure
successful delivery of the project's aims and objectives.
To properly carry out a project from initiating to closing, we require
specific knowledge and skills related to project management.
There are various bodies of knowledge today that have organized the
basic project management knowledge areas in different ways.

Project management Knowledge Areas

These are:
Integration
Scope
Time
Cost
Quality
Human Resource
Communications
Risk
Procurement
These are widely recognized as the basis of the project
management discipline.

Project management Knowledge Areas

Integration
Integration management are the various processes and
methodologies used to integrate all the knowledge areas of project
management and the various phases of the project life cycle.
A Project can thrive only when good integration processes are
available to a project manager to effectively integrate all the
project elements.

Project management Knowledge Areas

Scope
Scope management deals with the various processes and
methodologies used to ensure that complete identification
of the deliverables required completing a project is done in
a methodical manner.
Remember Scope is the basis for Time and Cost in the
Project
Management Triangle
Scope, the basis for time and cost estimates
plays the most crucial step in achieving the project
objectives without tears.

Project management Knowledge Areas

Time
The effective planning and accomplishment of activities' timing and
phasing is a
central skill of project management.
Time scheduling/phasing comprises specifying the processes required
to
ensure timely completion of the project.

Project management Knowledge Areas

Cost
Cost Management is the process of estimating the proper cost that
should
reasonably be expected to be incurred against a clear baseline,
understanding
how and why actual costs occur, and ensuring that the necessary
response is
taken promptly to ensure that actual costs come under budget.
Successful cost management on a project is forward-looking.

Project management Knowledge Areas

Resource
Human Resource management concepts help you to
understand the various processes and
methodologies that are used to ensure the
effectiveness of a good team leader and effective
team members.
Human resource management is the nuclei of
effective project management.
The common denominator is effective project
leadership and team functioning, as it is the men
behind the machines who make the difference.

Project management Knowledge Areas

Quality

Quality management concepts help you to understand the various

processes
and methodologies used to ensure full compliance of quality policy
and
guidelines in completing a project.
Quality is taken as understood and thus everyone has to meet the
quality
standards to be in the game of business.
Quality can never be compromised for a long and sustainable business
competitive edge.
Remember Quality applies to everything in Project Management:
Commercial, Organization, People, Control, Technical, etc.

Project management Knowledge Areas

Communications

Communications management is the various processes and

methodologies
used to establish smooth information flow and communication
mechanism
throughout the different phases of the project life cycle
Just as the project life cycle is fundamental to structuring the process of
project
management, communication is fundamental to making it work.
Effective communication with all stakeholders is absolutely mandatory to
project success.

Project management Knowledge Areas

Risk

A risk in a project is an uncertain event or condition that has a positive or a

negative effect on project objectives if it occurs. Risk includes both threats
to
the project's objectives as well as opportunities to improve those objectives
Risks are present in all projects, whatever their size or complexity and
whatever industry or business sector.
Risk management concepts help you to understand the various processes
and
methodologies that are used to identify, quantify and develop strategies to
respond to project risks.

Project management Knowledge Areas

Procurement

Procurement is the process of acquiring new services or products

Procurement management concepts help you to understand the various
processes and methodologies used to ensure the complete mechanism
of
soliciting and procuring the relevant services or products from the
suppliers.
Effective procurement management is when there is an alignment of
vision
amongst the suppliers and buyers to work together in improving project
performance