What is Project Management

defining the reason why a project is necessary; capturing project requirements, specifying quality of the  deliverables , estimating resources and timescales; preparing a  business case  to justify the investment; securing corporate agreement and funding; leading and motivating the project delivery team; developing and implementing a  management plan  for the project; managing the risks, issues and changes on the project; monitoring progress against plan; managing the project budget; maintaining communications with stakeholders and the project organisation; provider management ; closing the project in a controlled fashion when appropriate.

Projects are separate from  business-as-usual  activities and occur when an organisation wants to deliver a solution to set requirements within an agreed budget and timeframe. Projects require a team of people to come together temporarily to focus on specific project objectives. As a result, effective teamwork is central to successful projects. Projects require a team of people to come together temporarily to focus on specific  project objectives . As a result, effective teamwork is central to successful projects. Project management is concerned with managing discrete packages of work to achieve specific objectives. The way the work is managed depends upon a wide variety of factors. The scale, significance and complexity of the work are obvious factors: relocating a small office and organising the Olympics share many basic principles, but offer very different managerial challenges. Objectives may be expressed in terms of: outputs  (such as a new HQ building); outcome...

Project management software is a platform for managers to plan, monitor and report on projects; it lets teams manage their work and collaborate, too. Watch the video  PM SOFTWARE   to see project management software in action. ProjectManager  offers a suite of all the project management tools you need to take your project every step of the way—from initiation through closure. We have the best project planning, scheduling and tracking features.

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  In addition to certifications, project management positions require a set of soft and hard skills to lead project teams.  Project management skills  are grouped under two main categories: hard skills and soft skills. Hard skills are skills that can be acquired by individuals through formal training, such as becoming knowledgeable about project management methodologies, learning how to use project management software or implementing project management techniques. Soft skills, on the other hand, are skills that people develop over the course of their lives, such as communication skills, problem-solving, time management or work ethic.

Adaptability has recently been essential in project management due to 2020 standing as an incredibly volatile year, which had profound effects on industries around the globe. Massive shutdowns, supply chain issues, and global lockdowns are still being felt even now. Those upheavals have shaped emerging trends in project management as businesses explore new ways to manage their projects. Read on to learn more about common trends in project management. Hybrid Project Management Will Grow Hybrid project management is a combination of traditional and agile project management methodologies. It is gaining popularity as it allows for flexibility and adaptability in project management. Therefore, the trend of using hybrid project management is expected to continue to grow in the coming years. Rise in Remote Working Remote work and virtual teams are becoming more common in many industries, requiring new communication techniques and collaboration strategies. While the global pandemic forced busi...

Project management styles refer to project managers’ different approaches and techniques to plan, execute, and control projects. Several common project management styles are widely used in various industries and organizations. Six Sigma Six Sigma project management is rooted in the data-driven quality methodology used to improve business processes and reduce defects. Developed by Motorola in the 1980s, it has since been adopted by many other companies. The overall goal is to reduce defects and errors to achieve a quality level of, at most, 3.4 defects per million opportunities Agile Project Management An iterative project management approach that emphasizes flexibility and adaptability, agile project management involves breaking down a project into smaller, more manageable tasks and continuously monitoring and adjusting the project plan as needed. Agile project management is often used in software development but can be applied to most projects. Scrum (a type of agile) A type of ag...

  More work is becoming project-based due to several reasons: A project-based structure allows organizations to be more flexible and adaptable to changing market conditions. For example, companies can employ project-based workers instead of permanent employees for specific tasks or projects that can be scaled as needed. Companies gain access to a broader talent pool, including remote workers and freelancers, who may only be available part-time. Companies often find project-based work more cost-effective, as they only pay for the work that is needed rather than providing benefits and salaries for full-time employees. Project-based work allows workers more control over their schedules and workloads, increasing job satisfaction and productivity. As a result, more businesses are embracing project-based work as a way to stay competitive and meet the changing demands of their customers and employees. Benefits of Project Management Project management is a necessary process in many fields ...

  Managing a project is challenging, regardless of the scale and scope. From everyday planning to overseeing the ever-changing demands of stakeholders and clients, many variables can pop up at a moment’s notice. One strategy to maintain the order and flow of a project is to break it down into smaller, manageable stages. Each stage (or milestone) may have its own goals, timelines, and deliverables. This compartmentalization makes it easier to control the project and ensure the quality of work. In the next section, we’ll take a closer look at each of the five project management lifecycle stages. 1. Initiation The initiation stage is the first phase of the project life cycle. It involves defining the project’s purpose, objectives, and scope, as well as identifying the clients and stakeholders and their needs. During this stage, the project manager must determine whether the project is viable and worth pursuing by asking certain questions. What is the objective of this project? What ar...

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The  Project Management Triangle  is a helpful way to visualize the four primary components of project management. This model helps visualize the need to balance scope, cost, and time to support a high-quality final product. Many roadblocks that arise with project management stem from three primary problems. Trying to keep their team productive with too little time Trying to accomplish a task with not enough budget Trying to solve a problem with too large of scope The project manager must understand that these variables are usually rooted in place and must determine how to balance these roadblocks without making detrimental tradeoffs at the risk of a less-than-stellar final product. Quality is the overall goal. 1. Time Time is one of the most critical factors in project management. You cannot replenish time once you spend it because it is a finite resource. Therefore, managing time effectively is essential to ensure the project’s timely completion. Time management involves ide...