Project Management
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- what is a project?
- what are the basic phases of the project lifecycle and their purposes?
- why is it important for organizations to use project management to accomplish tasks?
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- what is a project?
A project is an enterprise that is properly planned and designed to achieve a specific goal. For instance, there can be a project to build a bridge. First, there is a need to process the idea, do on-site examination/research, generate ideas and reconcile the actions that would lead to the building of the bridge. The next stage is to plan how the bridge will be built. The plan includes the list of tanks, the actions, the responsibilities for the actions, the budget for each phase of the project, the time that will be taken to complete the project, the manner in which the progress of the project will be monitored and the way in which the project will be controlled.
Projects by their nature are temporary. They have a starting date and an ending date. One of the main functions of controlling the project is to ensure that the project is completed on time. Every project is new, in a sense that it has not been earlier. A similar project could have been done earlier but each project has some feature or the other that makes it exceptional. The project gets completed when its goals are achieved. For instance, a project to build a bridge gets completed when the bridge is complete.
Project management is a temporary venture undertaken to achieve a distinctive objective, product, or service. The project can get over in two ways, one when the goals of the project are achieved, or when the goals become impossible to achieve. The project can also be terminated when its goals become impossible to achieve. What distinguishes a project is that it has a well defined beginning and an end. However, the project may get completed because the resources have got depleted or the goals become impossible to deliver.
The temporary nature of the project is compared with the ongoing business operations where the work is not normally expected to ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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