Project Management : A Relatively New Wave Of Management Essay

With the exceptional growth in technology, the present day projects are often large and complex involving a significant risk. So, a Project Management Methodology enables the delivery organization to handle these projects comprehensively, systematically and in an integrated manner, which results in strategic, tactical and operational benefits.

In the current business environment, the demand for project managers is ever growing. In short, project management is a provisional project constrained by time, cost and scope (A guide to the project management body of knowledge, 2013). Between the immense organization, optimization, and communication assets skilled project management brings to a project, it is easy to see why project management is a booming field of study. Furthermore, project management can be both financially and personally rewarding when long term milestones and goals come to fruition.

Project management is the performance based process focus on one o more deliverable. It is the process of identifying a problem or need coming up with possible solution, deciding on the best one and completing the project in a manner that is acceptable to

Project Management is the art of arranging, sorting out, spurring, and controlling resources to attain specific objectives. A project is a brief endeavor intended to deliver a unique product, service, attempted to meet extraordinary objectives and goals, commonly to achieve helpful change or included quality.

Using project management offers a business a way for dealing with considerably lowered phase times. With businesses operating internationally projects that can have an effect on the company as a whole are not easy to manage without a proper line of attack. For this, project management would help cross functional teams to be more successful.

Agile techniques should be used to solve the current issues faced by the company as agile techniques normally being used by the software industry help the business to act in response under the unpredictable situations faced. In Agile methodologies opportunities are been provided to evaluate whether the project is under the direction all through its development cycle. All this is being accomplished with the help of regular tempo kept in work, and the teams must show a product which is having the desired potential.

A project manager can be considered the project owner. A project can be anything from

Planning the project allows the project managers to anticipate the effect of errors without expending money, time or resources. Planning projects and analysing the costs and benefits enables the manager to review options, propose the estimates, visualize risks and simulate the plan, prior to committing the project to a specific course of action.

This paper describes Agile development methodologies and their benefits. Section II presents key elements of Agile. Section III presents benefits of Agile development methodologies over traditional waterfall methodologies.

Project management is a technique of shaping all activities connected to a project and its parts. The purpose of a project may range from new product development to a service launch. (About Us, 2017).

Project management is a collection of activities using tools, knowledge, skills and techniques to meet the requirement of a project which implemented by companies to development a new product, change a process, or solve problems.

The agile approach is hasty and coherent and built on iterative and incremental growth where requirements and results advance through collaboration (Rubin and Rubin, 2010). This approach can be seen as a process which breaks down a large complex project in to numerous less complex or rather simple projects as well as outlining the scope for every one of these less complex

In this era of globalisation, project management has been widely utilized to enhance the competitive edge of an organisation. Project management serves as a platform for many companies to achieve organizational excellence and success.

Project management is a practical approach to achieve the goal the organization is expecting from a project within a specified timeframe with well-defined capital. Hence, project Management is a means to collaborate those resources in an organized way. According to Kloppenborg (2012), “Project Management is the application of knowledge, skills, tools and techniques to project activities to meet project.”

Project management is a series of steps taken in sequence to manage a project through all phases from conception to completion. The steps are documented in a strategic plan. The plan is used to ensure that all parties are working towards a common goal. Project management requires applying knowledge, skills, tools and techniques to specific activities in accordance with established standards and guidelines. There are five basic functions of project management: planning, organizing, staffing, directing, and controlling. Basic activities of project management include: identifying project requirements to define the outcomes; addressing various needs, concerns and expectations of others; setting up, maintaining and carrying out communications; managing others; creating project deliverables; and balancing competing project constraints.