Project management is a methodical approach to planning and guiding project processes from start to finish. The process of this management is guided through five stages- initiation, planning, executing, controlling and closing.
Project management is the discipline of planning, organizing, securing and managing resources to bring about the successful completion of specific project goals and objectives.
People sometimes get confused with program management, whereas program management is a higher-level construct, a group of related and somehow independent projects.
For a defined beginning and end a project is just an attempt. It has constrained by date. A project is taken to meet a specific goal and objective. It is usually about beneficial changes or added value. The business stands in contrast with the project. Repetitive, permanent or semi-permanent functional work is required to produce products or services.
To achieve the project goal is the primary challenge of project management and honoring the preconceived project constraints are objectives. Some specific constraints are scope, time and budget whereas another challenge is to optimize the allocation and integration of inputs necessary to meet the pre-defined objectives.
The main reason for designing project management is to save time on a project by planning all the relevant factors which may affect it; beforehand and then execute it accordingly. By this, we can save time and money and results will be much positive. Project management tells us about market feasibility with finance available.
This management tells us in various ways. By this project delivered successfully with proven planning and agreement enable you to achieve the agreed objective. Goal clarity and measurement, we have are well coordinated with resources. The risk will be identified on time and cured which saves time and cost also. The agreed outcome will be achieved at a specific time.
Project management develops a plan on time to resolve the problem and control the situation. The project planning method is well proven and developed over more than a century. People get together to work for a specific goal with co-ordination and traceable processes.
What is wanted, how to do it and who is to do what is clear, then the achievement of the goal becomes easier. Proven planning and controlled management methods can define and achieve the desired goal. Co-ordination of multiple resources within time and cost helps.
Project management is a body of knowledge concerned with principles, techniques, and tools used in planning, control, monitoring and review of projects. This management has a definite beginning and end. It is not a continuous process. It reduces risk and increases the chances of success. The three most important factors are time, cost and scope, commonly known as triple constrain. When all these constrain are taken care then the desired result with quality is achieved.