PROJECT MANAGEMENT

Project management is the application of knowledge, skills, tools, and techniques to project activities in order to meet or exceed stakeholder needs expectations from a project

Project management is the discipline of organizing and managing resources in such a way that these resources deliver all the work required to complete a project within defined scope, time, and cost constraints. A project is a temporary and one-time endeavor undertaken to create a unique product or service.

The term project management is sometimes used to describe an organizational approach to the management of ongoing operations. This approach, more properly called management by projects, treats many aspects of ongoing operations as projects in order to apply project management to them. Knowledge about project management can be optimized in many ways.

The first challenge of project management is ensuring that a project is delivered within the defined constraints. The second, more ambitious, challenge is the optimized allocation and integration of the inputs needed to meet those pre-defined objectives. The project, therefore, is a carefully selected set of activities chosen to use resources (time, money, people, materials, energy, space, provisions, communication, quality, risk, etc.) to meet the pre-defined objectives.

Project Management Activities:

• Planning the work or objectives.
• Analysis & Design of objectives.
• Assessing and controlling risk (or Risk Management)
• Estimating resources
• Allocation of resources
• Organizing the work
• Acquiring human and material resources
• Assigning tasks
• Directing activities
• Controlling project execution
• Tracking and reporting progress
• Analyzing the results based on the facts achieved
• Defining the products of the project
• Forecasting future trends in the project
• Quality Management
• Issues Management

NOTE : Taken from different sources.