According to Association for Project Management
Project management is the process of planning, executing, and implementing knowledge, skills, experience, and expertise in a fashion that will allow the successful completion of the project within defined goals. Project management has deadlines to keep up with and finite resources (both time and budget) to complete the project.
The difference between “Management” and “Project Management” is that it stands out from the general direction since it has a definite end point and limited time. While on the other hand, management is an ongoing process with more time and resources to complete given tasks.
Project Management Life Cycle
There are generally four parts of a project management life cycle:
- Execute and complete tasks
- Close projects
Each part of project management goes through a set of phases, including initiating, planning, executing, and completing before anything helpful comes out of the process, which is essential to every project’s completion. In addition, this cycle enables project managers to methodically prepare each job and activity to maximize the likelihood of success. To summarize, a project is a well-organized and managed work effort with a defined starting point and an expected ending point or lifetime.
There are typically a budget and deadlines for any given project. Project management is essential to maintain efficiency, timeliness, and fiscal responsibility. To ensure the project tasks are completed within the allotted time frame, the project manager may elect to preserve the full team participation even as the deadline approaches.
Understanding Project Management
Generally speaking, the project management process involves the following stages: planning, initiation, execution, monitoring, and closing.
Every project requires a strategy that details the beginning, the development, and the conclusion. One of the best examples of project management is the architectural field; for instance, the process begins with a concept, continues to sketches, and culminates in a design while including thousands of separate yet interconnected steps. The architect’s input is essential but is just one jigsaw piece. The project manager brings it all together.
Every project generally has a budget and a time constraint. Project management keeps everything going smoothly, on schedule, and within budget. That implies that when the scheduled period is nearing a close, the project manager may keep all the team members working on the project to complete it on schedule.
Types of Project Management
Project management comes in many forms, each tailored to a particular field or fields worth of projects. The following are some of them:
- Waterfall Project Management
In this approach, each step must be finished before moving on to the next, similar to conventional project management. Each stage is logical, and development occurs in a steady stream. In this kind of project management, it’s crucial to pay close attention to the order of tasks and the associated deadlines. The number of people working on a project will often increase as preliminary activities wrap up and more substantial ones begin.
- Agile Project Management
One early adopter of this technique was the software development sector. Agile project management is an iterative approach centered on the continual monitoring and improvement of deliverables, with its roots in the 12 fundamental principles of the Agile Manifesto, high-quality deliverables result from delivering value to customers, fostering collaboration within teams, and responding to changing business needs.
There are no predetermined steps in an agile project’s development process. Instead, different members of the team work on other parts of the project at the same time. This method allows mistakes to be isolated and fixed without beginning the process from scratch.
- Scrum project management
The Scrum methodology, which evolved from Agile project management, emphasizes completing tasks in iterative, time-bound bursts called “sprints.” Daily standups are short meetings when teams review the status of an ongoing process and handle any problems that have arisen. A “Scrum master” facilitates these gatherings and ensures that the job gets done each day without any roadblocks.
Scrum is a method of managing projects that encourages rapid completion without sacrificing quality or adaptability to changing circumstances. It’s an excellent approach for small businesses or groups because of its emphasis on production and teamwork.
- Lean Project Management
This approach aims to save as much time and resources as possible. This technique is based on observations of Japanese production methods. The objective is to maximize consumer value while decreasing costs.
However, these are only a few of the most used approaches to managing projects. The choice is up to the project manager or the business sponsoring the project.
- Kanban project management
The Kanban approach is another strategy that came out of Agile project management that’s useful for making the team’s workflow more visible and manageable. It stresses removing unnecessary steps and variations to boost output and effectiveness. Kanban breaks down large projects into manageable chunks, enabling team members to concentrate on a single task simultaneously.
A Kanban board allows team members and project managers to see tasks and their status in real-time. Each process step may be tracked on a Kanban board by moving cards from one column to the next. Although the term “Kanban” is most often used in the software development business, its core concepts apply to almost every field.
- Six Sigma project management
Six Sigma is a technique for managing projects with many of the same goals as Lean project management, including focusing on the customer’s wants and requirements, reducing waste, and enhancing quality control measures.
Six Sigma, despite its name, consists of five stages known as DMAIC:
- Define the project.
- Measure data.
- Analyze the root of any problems.
- Improve processes.
- Control by implementing solutions
The four project limitations of scope, time, budget, and quality are all taken into account by Six Sigma. Its primary goal is to define and account for these limitations in detail without sacrificing anything else. Efficiency and neatness will undoubtedly improve as a result of this. However, the process’s framework encourages a conservative approach that may stifle creativity and adaptability.
- PRINCE2 project management
Projects in Controlled Environments, or PRINCE2, is a project management methodology that emphasizes consistency and repeatability. Before PRINCE2 projects can be started, their business rationale, which should include a thorough cost analysis and baseline criteria, must be documented. The project is broken down into manageable parts, and each step has built-in time for quality assurance and retrospectives.
The PRINCE2 project management method allows for improvisation within the framework of a structured and governed procedure. By pausing at the end of each phase to assess what went well and what may be improved, teams can take away valuable insights that can be used in future endeavors. The procedure is extensive, yet it may be time-consuming compared to other project management methods because of the need for significant documentation.
Who is a Project Manager?
A project manager is one who has technical expertise as well as skills in leading others effectively and understanding the business world.
The project manager of a project acts as the go-between between the project’s financial backer and the team’s suppliers.
Roles and Responsibilities of a Project Manager
The roles and responsibilities of a project manager operating within agreed reporting structures are the following:
- Planning and monitoring the project
- Applying appropriate project management standards
- Activity and resource planning
- Organizing and motivating a project team
- Controlling time management
- Cost estimating and developing the budget
- Ensuring customer satisfaction
- Analyzing and managing project risk
- Applying appropriate technical and quality strategies.
- Ensure work is not overworked or duplicate
- Monitoring progress
- Operating reports and necessary documentation
- Followups on team members, their performance, and problems.
- Managing project risk and developing contingency plans.
Skills and Attributes of Project Manager
The following are some of the skills and attributes required of a project manager:
- Connect well with the Management or to reporting Head or Project Director.
- The leader of a project must be able to guide, manage, and inspire everyone working on the endeavor.
- Produce and update a thorough project plan and stage-by-stage breakdown
- Be familiar with and adept at risk assessment and mitigation techniques
- Modify existing information based on new details
- Strategize the allocation of time, money, and other assets to achieve project goals
- Establish and maintain fruitful channels of contact with the other project participants.
- This task requires you to:
- Use quality management techniques
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