A project is a temporary initiative to carry out the sequence of tasks with a particular deliverable that needs to be completed within a specific time frame and cost.Read More
Hi everyone, this write-up is here to answer “What is Project? & What is Project Management?”. First, let’s perceive an introduction about Project and its nature.
What is Project?
A project is a temporary initiative to carry out the sequence of tasks with a particular deliverable that needs to be completed within a specific time frame and cost.
In our day-to-day life, we are all handling the Projects either at home or in our workplace. Surprised? Here are the examples.
Successful completion of these works needs Time Management, Resource Management, and cost Management skills to a certain extent.
In the same way, the organization carries out a project on a larger scale to meet the requirement of the clients in different industry sectors. To execute the projects, there are important things to do like
As an organization, it is important to complete every project at the promised time and budget to the clients and without compromising the quality of each deliverable.
Now the question is, how will we ensure these? There comes a larger concept called Project Management.
What is Project Management?
It is a process of leading and handling a team of experts and skilled people in planning and executing a sequence of tasks that need to be accomplished on an agreed or promised time frame with a restricted budget.
To put this in a simple way, it is the process of managing a project from beginning to end, to make sure the project goals are met in the agreed time.
PM has three crucial elements to execute the project which includes:
The Project Manager plays a prominent role in the Project who should confirm that all project deliverables are completed on time and the project is satisfactory to all the stakeholders, including clients, top-level management, suppliers, and the project team.
The project management system encompasses organization structure, data processing, and decision making and the procedures that help the integration of all stakeholders of that particular project. The PM system focuses on cohesive project planning, executing, monitoring and control.
With this, we conclude this write-up about the Introduction to Project and Project Management. We will see about the Project Life Cycle, Project Management Process in the next write-ups.
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