What is Project Management?

Project management is all about bringing the different components of the project together to accomplish the main objective. Any organization, whether big or small, will undertake projects at one time or another to improve company operations or to meet client requirements.

When talking about project management, it is important to understand that a “project” isn’t a part of normal business operations. It has a temporary timeframe and a specific goal. That’s why it is important to plan it properly and allocate the right resources early on. Any mistake in the planning process can result to delays or the non-completion of the project. Following the proper steps in project management is important.  The project management process is basically composed of 5 steps including:

Definition – in this stage of project management, the goals and objective of the project are identified. This phase also involves setting expectations and knowing what the end product would be. All the stakeholders in a project including the project manager, business executive, and client (if applicable) must be involved in defining the project.

Planning – after the goal has been identified, the next step is to think how the objective is best accomplished. This includes designating people to appropriate roles, allocating resources, and setting milestones. The project manager should also analyze how long each task will take to complete and how it will affect the deadline. Additional staff can be assigned to work at the critical points of the project if this is required.

Execution – this phase involves implementing the plan that has been created by the project manager and other stakeholders. The project manager has to manage the project constraints such as the budget, people, schedule, and project scope effectively. Each team member must start working on the tasks that were assigned to them.

Control – to ensure that the project is progressing properly, there must be controls in place. The project manager must know the details of the project’s progress. Team members must submit a report of whenever milestones are completed. This facilitates the effective administration of the project.

Closure – if the project meets expectations are completed within the deadline, then it’s time to close the project. The project manager will present the completed work to the client or to the senior manager.

Whether your project is straightforward or complex, it is important to follow the process outlined above. This will ensure the seamless flow of its implementation and allow you to finish the project on time and within budget.