Project Management A Project Istemporaryin That

Project Management: A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources.And a project is unique in that it is not a routine operation, but a specific set of operations designed to accomplish a singular goal. So a project team often includes people who don’t usually work togee4ee4ee`ther – sometimes from different organizations and across multiple geographies. Project management, then, is the application of knowledge, skills and techniques to execute projects effectively and efficiently. It’s a strategic competency for organizations, enabling them to tie project results to business goals and thus, better compete in their markets.
The core components of project management are: 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; developing and implementing a management plan for the project; leading and motivating the project delivery team; 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.

Steps in Project Management:
Project management processes fall into four groups:

Initiating
Planning
Executing
Closing
Project Initiating: An idea for a project will be carefully examined to determine whether or not it benefits the organization. During this phase, a decision making team will identify if the project can realistically be completed.
Project Planning: A project plan, project charter and/or project scope may be put in writing, outlining the work to be performed. During this phase, a team should prioritize the project, calculate a budget and schedule, and determine what resources are