Project Management Explained
Subject: Management Paper 1
A project is an assignment or task haunted to realize a selected goal. the event and
introduction of latest services or of a management data system are instances of a project. A
project is different from the continual or day-to-day processes of a corporation. it's confined
within cost, time, and quality constraints. As a consequence thereto a special team of
experience is appointed to manage a project.
Project management because the name suggests is all about nurturing or handling a
project. this is often through with the help of requisite knowledge about the project, skills and
techniques to finish the project within fixed tenure and resources. Project management
involves step-by-step procedure alongside a prudent approach towards the project.
At first the concerned organization prepares an overview of the project. This includes
knowing and writing down what the project is all about, the value involved within the project,
the quantity of resources needed. an idea is additionally given to the tentatively earliest
possible time within which the project is often completed. Once the budget and other nitty-
gritty’s about the project are known the organization looks for sponsors and a project
manager. If the individual sponsoring the project is skilled and efficient enough, he can also
be its manager.
The project manager then appoints a team of individuals to figure under him.
alongside the team the manager of the project prepares a project plan. This plan isn't almost
the value and time factors but also regarding the way during which the project is to be
initiated and covered up later. this needs lot of discussions and settlements between the
project manager and therefore the team of employees.
