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MANAGEMENT
UNDERSTANDING
PROJECT MANAGEMENT
UNDERSTANDING PROJECT MANAGEMENT
In order to understand project management, one must begin with the
definition of a project.
WHAT IS A PROJECT?
A PROJECT can be considered to be any series of activities and tasks
that:
■ Have a specific objective to be completed within certain specifications
■ Have defined start and end dates
■ Have funding limits (if applicable)
■ Consume human and nonhuman resources (i.e., money, people,
equipment)
■ Are multifunctional (i.e., cut across several functional lines)
UNDERSTANDING PROJECT MANAGEMENT
PROJECT MANAGEMENT, on the other hand, involves five process groups
as identified in the PMBOK® Guide, namely:
■ Project Initiation
■ Project Planning
■ Project Execution
■ Project Monitoring and Control
■ Project Closure
UNDERSTANDING PROJECT MANAGEMENT
■ Project Initiation
o Selection of the best projects given resource limits
o Recognizing the benefits of the project
o Preparation of the documents to sanction the project
o Assigning of the project manager
■ Project Planning
o Definition of the work requirements
o Definition of the quality and quantity of work
o Definition of the resources needed
o Scheduling the activities
o Evaluation of the various risks
UNDERSTANDING PROJECT MANAGEMENT
■ Project Execution
o Negotiating for the project
o Directing and managing the work
o Working with the team members to help them improve
■ Project Monitoring and Control
o Tracking progress
o Comparing actual outcome to predicted outcome
o Analyzing variances and impacts
o Making adjustment
UNDERSTANDING PROJECT MANAGEMENT
■ Project Closure
o Verifying that all the work has been accomplished
o Contractual closure of the contract
o Financial closure of the charge numbers
o Administrative closure of the paperwork
UNDERSTANDING PROJECT MANAGEMENT
Successful project management can then be defined as having achieved
the project objectives:
■ Within time
■ Within cost
■ At the desired performance/technology level
■ While utilizing the assigned resources effectively and efficiently
■ Accepted by the customer
UNDERSTANDING PROJECT MANAGEMENT
The following would be an overview definition of project management: