Definitive Breakdown of Project Management Process
Project management is a specialized field of study in management undertaken by many students. Most of the universities and management institutes conduct higher-level courses on Project Management. Students doing their MBA or Post Graduation on Project Management often contact BookMyEssay for getting Project Management assignment help. The writers associated with BookMyEssay for helping the students who are struggling hard with their Project Management assignments handle each assignment very efficiently and help the students to submit their assignments well within the deadlines.
Project Management: An Overview
A project is a brief assignment in that it has a definite beginning and end as far as the time frame is concerned. It has defined scope and resources. Normally, a project is not a routine operation for an organization, but a specific set of actions, with the help of specific sets of resources, designed to accomplish a particular goal. So, a project team is normally composed of professionals and staff don’t usually work together. In many instances, people from different departments and organizations are included in the project team. Developing a new office, development of software for a banking operation, the construction of a building or road, the relief effort after a natural calamity, the expansion of sales in a new market – these all are projects in different sectors.
It is obvious that these projects have certain restrictions –
- Projects are meant to be completed within a deadline.
- Projects have a restricted budget.
- The project needs to be accomplished successfully as per the pre-designed plan.
Thus, Project management is the application of knowledge, tools, and methods to project activities to meet the requirements for which the project job was undertaken. Managing the project by staying within the restrictions is proof of the efficiency of a project manager.
A Project Management Process Passes Through The Following Steps –
- Initiating – Considering the feasibility of a project, i.e. whether the project is viable in the present context or not.
- Planning – Designing the project and planning its different aspects. Planning of a project includes required resources, budget, restrictions and deadline. Sometimes, if the project is a large one, planning is segregated into relevant parts. Resources and budgets are allocated for each part separately.
- Executing – This is the implementation of a plan with the help of resources.
- Monitoring – Once implemented, the operations are monitored closely to understand whether the project is taking place as per the plan or not. The deviations are marked and relevant measures are adopted.
- Closing – When everything is going as per the plan, it is time to close the project and use the outcome or product of the project as per the plan.
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