1 1 Definition of Project Management
Definition of Project Management
Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. It involves initiating, planning, executing, monitoring, controlling, and closing projects.
Key Concepts
1. Project
A project is a temporary endeavor undertaken to create a unique product, service, or result. It has a defined beginning and end, and it is progressively elaborated.
Example: Building a new office building is a project. It starts with planning and ends when the building is completed and handed over to the client.
2. Project Management
Project Management is the practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria.
Example: Managing the construction of a bridge involves coordinating various activities like design, procurement, construction, and quality assurance to ensure the bridge is built on time and within budget.
3. Project Manager
A Project Manager is the person responsible for leading the team and managing the project's scope, time, cost, and quality. They ensure that the project is completed successfully.
Example: The Project Manager for a software development project would be responsible for overseeing the development process, managing the team, and ensuring the software meets the client's requirements.
4. Project Life Cycle
The Project Life Cycle consists of the phases through which a project passes from its initiation to its closure. These phases typically include initiation, planning, execution, monitoring and controlling, and closing.
Example: In a construction project, the life cycle would include phases like site selection, architectural design, construction, and final inspection.
5. Project Management Knowledge Areas
These are the specific areas of expertise that a project manager must understand and apply to manage a project successfully. The PMBOK Guide identifies ten knowledge areas: Integration, Scope, Time, Cost, Quality, Human Resource, Communications, Risk, Procurement, and Stakeholder Management.
Example: In the Cost Management knowledge area, the project manager would focus on budgeting, cost estimating, and cost control to ensure the project stays within the allocated budget.