WHAT IS PROJECT MANAGEMENT?
Project management is a complete procedure of planning, scheduling, organizing, and monitoring to accomplish a specified target. In simpler words, project management refers to the completion of a project. What’s a Project? A project is an expected output of a product that you desire to achieve through a stratified process. Constructing a building, promoting an event, or updating a website would be a few examples.
Thus, Project Management alludes to getting things done- it could be anything from a small building to a whole development of a city. Blurring the lines between each step, the project manager acts as the unsung hero behind the prosperity of a blockbuster project.
COMPONENTS OF PROJECT MANAGEMENT
The warp or foundation of any project hinges on three intrinsic factors, which are:
1. TIME: refers to the time duration in which the project is to culminate.
2. COST: ascertains the budget granted for the project.
3. QUALITY: the set standard for the quality of work to be produced.
Compromising any one of them can shake the cornerstone of the project and lead to haphazard failures.
PROCESS OF PROJECT MANAGEMENT
Project management is a high-end stratified process that unfolds seamlessly from one step to another. Chasing down the project on these five stoned bases will lead to definite deliverable outcomes.
The five steps are:
STEP 1: SET GOALS
Success is a long haul (or should I say next to impossible) without a clear set goal. Any project starts with the goals and objectives that one wants to ascertain through sheer dedication and hard work.
Working with a team, sponsors, and stakeholders, you determine the objectives that you seek to achieve. What would be the monetary value, human resource requisitions, and other determinant factors in line? Answers to all these questions formulate the end of step one and kick-start your project management.
STEP 2: MAP OUT A PLAN
Keeping in mind the stated goals, roll out an actionable plan to move on with the project. What does a plan include? Given the account of a project, the plan synthesizes and divides the tasks into smaller chunks. The better the planning, the healthier would be the results.
In this way, the completion of each step thrusts you a step closer towards your goals. And in between, it gives you a sense of satisfaction that pushes you towards the next overhaul.
STEP 3: ASSIGN ROLES AND DUTIES
Project Management is not a single-handed task; it involves a team that works towards common goals. Thus, each task would further acclimate to the roles and duties of the employees involved. That is to say, the project manager will put employees into positions.
It’s not as easy as it sounds. The manager looks into account the details, strengths, and weaknesses of the individuals before assigning off roles to them. To be more precise, each individual is tested up for his or her proficiency to carry on with the flurry.
STEP 4: EXECUTION AND MONITOR
Advertently, this is one of the most crucial realms as most of the work occurs at this point. As now you have the plan and people, you can toss at the execution of the plan in a coherent manner. The project manager allocates funds to support specific tasks.
As far as execution is concerned, things move on smoothly if each employee gives his or her best. Putting nose into others’ work without any reason renders into feckless upheavals. Thus, it’s the duty of the manager to offset the balance between the employees and disparage any disputes before it takes the face of a crisis.
Apart from that, the manager has to overlook and monitor the progress of the project each passing day. Any alterations or changes can be made accordingly if the situation arises.
STEP 5: CULMINATION
As and when the projects streams towards the culmination, the project manager looks into all the aspects and check the deliverables. If there are any glitches, he persists for transfigurations. Once all the facets walk in line, the project manager gives a green flag. Thus, he draws on the curtains on the project.
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