Project Management

Introduction to Project Management

Project Management is the art of balancing

competing objectives, managing risk, and overcoming constraints to successfully deliver a product which meets the needs of both customers (the payers of bills) and the users. Project management in the modern sense began in the early 1950s, although it has its roots much further back in the latter years of the 19th century. The need for project management was driven by businesses that realized the benefits of organizing work around projects and the critical need to communicate and co-ordinate work across departments and professions.

Definition of Project management

Project

management is the discipline of planning, organizing, securing, and managing resources to achieve specific goals.

A project is a temporary endeavor with a defined

beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value.

Essentials steps of good project

Generate a Solid Business Case

To determine whether a program should be initiated and continued through to its conclusion, a business case is needed. An effective business case provides the required justification to commit the organization's resources (time, money and effort) towards a program's intended outcomes and benefits. In particular, it should reflect the most important strategic dimensions and clearly articulate how the program will address and support these dimensions. A successful business case must address the following questions: Why is the program important and what does it need to achieve? What is the current state and why does it need to change? What will the end state look like?

 Establish the Right Program Organization

( Program sponsorship ) The group provides authority on program funding, purpose and direction.. (Program manager) The program manager or director manages the program plan on a day-to-day basis and defines the overall management process. (Change manager) He or she should be responsible for aligning stakeholders' understanding of program goals and managing customer expectations. (Risk manager) A risk manager should be appointed to define and implement the risk management process. (Program office manager) The program office manager sets standards for program and project management practices; provides administrative support in program planning, resourcing and communications; and consolidates project progress information in support of program performance analysis.

System approach to project management

A

well-established and understood project controls system takes the cleanup vision and, based on the programmatic strategy, subdivides the work into manageable projects. These projects are assigned to Project Teams, who craft detailed life cycle baselines consisting of scope statements, schedules, and cost estimates. After loading the information to the project loading system The Project Team then executes the work. The performance measurement and reporting process tracks actual versus projected progress and cost and establishes when corrective actions are needed.

Phases Of Project management

Projects are usually managed by putting together

various techniques, knowledge resources and expertise. A project is managed and seen through to completion five basic steps instigation, planning, execution, monitoring/controlling and closing. Each step matters a lot in project management and each contributes individually to the success of the project. Project Instigation or Initiation. This phase involves designing and detailing the goals, which need to be achieved. An outline of what has to be done and how it is to be done is drafted by the project manager and discussed with the team members and others involved in the project. Project Planning. As the name goes, the project is planned in detail and a list of all the tasks and their association is chalked out. In addition, the activities that affect the project are discussed. Keeping in mind the risks and constraints, a deadline is decided.

 Project Execution. This is the stage where the project is

implemented in real sense. Resources are allotted, people, money and time are chosen for the tasks and the work begins. Project Monitoring. Once the actual task starts, there has to be someone or a team to monitor and take control of the progress of the project. Various management tools and software are used in tracking the progress of the project in different stages of completion. The project manager passes instructions and orders to make the necessary modifications and changes wherever required. Project Closing. After the project is implemented completely, it is tested and checked by the testing team to rule out any faults or loop holes. After the team is assured that the project is implemented successfully, the closing happens. The final analysis is carried out in the presence of the stakeholders, business owners and other persons involved.