Basic definitions of Project Management

Definition of Project:

Project is defined as a planned set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations.

Definition of 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 together – sometimes from different organizations and across multiple geographies.

Example: The development of software for an improved business process, the construction of a building or bridge, the relief effort after a natural disaster, the expansion of sales into a new geographic market — all are projects. 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.

What is nature and need for project:

Integrative is defined as bringing separate things together. Unification could be another term. Project management is integrative in nature because of the need to bring many different principles together for it to work. Project management needs to have every aspect of the project aligned in order for the project to be successful. Each portion or knowledge area works in harmony with each other. If a knowledge area is out of balance or not completed as needed, the project could fail.

NEED:

The project environment is very different from that of typical day to day operations or a regular team that performs similar activities on a day to day basis.

1. Provide vision and direction – the project manager identifies the aims and vision of the project and gives it purpose and direction. They also provide the point of contact for the project. They are responsible for all communication between stakeholders, customers and the project team, which decreases confusion and increases accuracy.

2. Increase efficiency – the project manager works with the project team to define the tasks which need to be undertaken in order to complete the project, and in what order they should occur. This ensures that they are completed efficiently.

3. Control scope – The scope of the project is comprised of what has to be delivered (the project deliverables) and what work has to be done to deliver the project deliverables. The project manager will continually address scope management throughout the life of the project by regular monitoring and controlling. This in turn saves effort and cost.

4. Manage costs – Delivering on time and within budget are two constraints of any project. The project manager controls not only monetary costs but also the people resources, both internal and external, and the equipment costs as well.

5. Manage time – time is arguably the biggest challenge of any project. The project manager must control the project schedule by examining milestones, key dates and the critical path throughout the project life cycle. These are the needs of project management.