Project Management
Project management is a team of experts that work together to fulfill the project requirements within the given time. It is the application of different methods, skills, and research to ensure the successful completion of the project. The main focus of project management is cost, time, and quality.
The project management team is usually a team belonging to different departments that help in making the project a success, but unlike management, project management gives definite gives results at a specific time, instead of it being an ongoing process.
Phases of Project Management
Project Management consists of 5 main phases that are followed to give the successful results of the project.
1) Defining a Project
The first phase of project management is to define the project. Even if it is just a basic project, it needs to be defined clearly to help set goals based on it. In this phase, the team sits down to see whether the project is achievable, whether it should be dismissed. This phase also requires the stakeholders to approve a project or decline it.
2) Planning the Project
Just like any other field, after the project initiation, the planning is the next phase. The project planning is a long term process that determines the success or completion of the project. You set goals, create the criteria of the goal, see which goal is achievable, and lastly, set the time for the goal to reach.
3) Executing the Project
Planning has no use if it is not executed properly. Executing a project is the phase in which data is analyzed and interpreted carefully with the planning to see the progress. This is the start of the project, so it is important to be precise about the execution.
4) Observing the Project
The phase for monitoring and keeping an eye on the execution of the project, and to see that it falls under the project management plan made by the experts as it is crucial to complete the project on time, and to avoid any loss.
5) Completion of Project
The last phase is the completion of the project. This includes ending contracts, holding meetings, and final analyzing of the project. This phase also requires the project management team to write up reports about the details of the process of the project, so that mistakes from the project can be avoided in the future.
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