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What is project management

Every activity in the personal life, professional life has some certain start and end. There is initiation and completion date for the activity. There is some planning, organization and strategy involves performing these activities. The list of activities to organize, plan and motivate the whole from start to end is known a Project Management to achieve desirable or planned output. The four essential elements of project;

  • It is time bound
  • It has quality
  • It has specific cost
  • It has scope (scope means what to add and what to not)

Now it is responsibility of a project manager to manage all four elements timely and appropriate manner for better project management. Project management is always a critical and methodical, if you lack in one area your project will be affected. If we go to example of a project organization of Olympics game is example of a beautiful project, now you might be thinking how this example is project, because it involves a specific span of time, scope, quality, and cost. Cost will be included for manpower and other resources consumed during the project.

According to PMI there are five phases while doing project management. These phase are; Initiation, planning, executing, monitoring and controlling and closing. This is what we required while managing a project. Project Management is something from idea to realization by passing through different phases. A project managed within the time by maintaining its quality and resources is successful project. An over budgeted and delayed project is failed project.

As per Project Management Institute, there are 10 knowledge areas of a project and every good and mature project manager should know about these areas, these area are;

  • Project Scope management
  • Project Integration management
  • Project Time management
  • Project stakeholder Management
  • Project Communications management
  • Project Quality management
  • Project Human resource management
  • Project Risk management
  • Project Procurement management
  • Project Cost Management

These all knowledge area provide knowledge all essential project information from signing contract, making communication plan till closure of project.