1.1 Explain The Principles Of Project Management

Task 01
1.1 explain the principles of project management
Project:
A project is a finalized set of activities and actions by a "project team" under the responsibility of a project manager in order to meet a defined need within fixed deadlines and within the limits of allocated budget.
Examples of famous projects include the "Manhattan Project", etc.

Project Management:
Project Management is the dynamic process that utilizes the acceptable resources of the organization in a controlled and structured manner, to achieve some clearly defined objectives identified as strategic wants. It is always conducted within a defined set of constraints
Project management within the modern sense began in the Fifties though it has its roots more back in the later
One of the forefathers of project management continues to be a familiar name today, Henry Gantt (1861-1919) the creator of the Gantt chart. Still in use, one hundred-years from their creation, Gantt charts are one of the project managers Most worthy tools. In the mid-20th century PERT charts emerged, complex network diagrams that show the important path of projects. Soon once this the United States Department of Defense created the Work Breakdown Structure, a tool used to break projects down into manageable items. These tools and techniques spread quickly as companies looked for new ways that to manage giant and complicated activities, evolving into project management as we understand it today. It is now sixty years since the birth of project management and much of the early work has been collected and place along into formal methodologies. Although several different methodologies exist, they all work with constant basic principles and good practice. You may expect we are expert when it involves running projects, but sixty years on and project
Most of the work related to the project is realized at this stage and needs complete attention from the project manager.
5) Monitoring & Control Once the project is running it is important the project manager keeps control. This is achieved by regular reporting of issues, risks, progress and the constant checking of the business case to make sure that the expected benefits will be delivered and are still valid.
6) Closure
Often neglected, it is important to make sure the project is closed properly. Many projects do not have a clear end-point because there is no formal sign-off. It is important to get the customers’ agreement that the project has ended, and no more work will be carried out. Once closed, the project manager should review the project and record the good and bad points, so that in the future, successes can be repeated, and failures avoided. A project that is not closed will continue to consume resources.

Principles of Project management
To make a project successful, the following principles are necessary assets in creating a path to completion. These principles of project management can be applied to any level or branch of a project that falls under a different area of responsibility in the overall project