Project Management

Project Management

A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources. In simple terms, Project Management is all about managing and organizing everything you need to achieve a goal - on time and on budget.

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 together – sometimes from different organizations and across multiple geographies.

And all must be expertly managed to deliver the on-time, on-budget results, learning and integration that organizations need.

Project management, then, is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

Project management processes fall into five groups:

Initiating

Planning

Executing

Monitoring and Controlling

Closing

There are many more methodologies and types of project management than listed here, but these are some of the most common. The type used depends on the preference of the project manager or the company whose project is being managed.