Project Management : A Unique Product Or Service

‘Project management is the application of knowledge, skills, tools and techniques to project activities to meet the project requirements’ (Project Management Institute, 2009, p12). Once a project has been approved a project manager is assigned to the project, and ‘is expected to integrate all aspects of the project, ensure that the proper knowledge and resources are available when they are needed, and ensure that the results are produced in a timely, cost-effective manner’ (Meredith and Mantel, 2010, p5). In order to allow this to happen there are several key aspects of a project which need to be carefully thought out and controlled.

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.

The term ‘project management’ is formed of two words and for the moment, will be broken down as such. The word ‘project’ is defined by Google as ‘an individual or collaborative enterprise that is carefully planned to achieve a particular aim’. ‘Management’, which is the second part of the term, is defined by Google as ‘the process of dealing with or controlling things or people’. So if these were combined, project management would be defined as ‘carefully planning an individual or collaborative enterprise that is carefully planned to achieve a particular aim while dealing with people and other circumstances’. While this definition is relatively accurate, it lacks detail and essential components which define project management as what it actually is. Therefore, the PMI (Project Management Institute) defines project management differently to this. The Project Management Institute definition is ‘is the application of knowledge, skills and techniques to execute projects effectively and efficiently’. This is highly accurate because it contains information of what a project manager’s role is rather than explaining what project management is in general which is, technically, not a

In this paper, I, a student of University of Phoenix will explain and discuss project management. I will address three main points. I will first answer what is a project. Secondly, I will discuss what are the basic phases of the project lifecycle and their purpose. Finally, I will explain why it 's important for organizations to use project management to accomplish tasks.

Project management is the discipline of planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives. It is often closely related to program management (Wikipedia).

Out of this project management systems RIBA and PMBOK are two systems which are widely

Part 1: Search the internet for the term "IT outsourcing". Find at least two articles that discuss outsourcing, whether beneficial or controversial. Summarize the articles and answer the following questions in a two to three page paper:

What is project management? Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. (PMBOK 2004)

Project management is the application of knowledge, skills, tools, and techniques to conform to customer demands.

Question 1. What project selection method described in the chapter will ABI probably employ for this proposal? Answer According to the description, the project selection method is profitability of numeric model. We might see the points from the business strategy 1) Bid only on good margin products that have the potential for maintaining their margins over a long term. 2) Pursue only new products. 3) Utilize the most advanced technology in new projects. “ project champion” approach to innovation and creativity. no more than 480 employees. 4) Foster the

The definition of the Project Management Process is called as “a set of interrelated actions and activities that are performed to achieve a pre-specified set of products, results, or services" (PMBOK® Guide, Chapter 3). Initiating, planning, executing, monitoring and controlling, and closing are the five project management process groups. The objectives for this topic are to have a better understanding of the

In simple words project management is everything you need to manage a project from start to finish. According to the Project Management application of knowledge, skills, tools and techniques to project activities to meet project requirements. In other words the project manager must do whatever is required to make the project happen (Burke 2007). Sometimes in large scale projects a number of managers may cover many different operations and report to an overall project manager.

Project management is one of the highest responsibilities in any organization. For CEO’s the major priority is transformation of business along with this the organizations should be ready to cater these changes as a part of growing or building their organization. A great deal of effort planning and proper execution in the given time, cost and scope constraints is essential for any projects success. This implies that even under crucial competency and banal times the organization must emerge with an exceptional project management be it in any sector like project construction, software development, improvement of customer experience , roll out an enterprise IT and so on everything falls under a methodological process one after the other in any business transformation. These major changes in organization cannot take place by business heads or project managers just through the means of normal communication modes like meetings, phone calls and Emails ect.for any organization in this rapid changing time to market, business agility.so in order to set of tools execute project success the project manager and project management team should be provided a set of tools or applications and cloud services for capital planning, budget control, risk management and analysis , project tracker and analytics etc which can be adopted for project management as per the needs of the project.

Project management is the discipline of initiating, planning, executing, controlling, and closing the work done by a team to complete specific goals and meet specific success criteria. By definition, a project is a temporary work service with a defined start and end which will produce a unique product or service to bring valuable changes. Most of the time, projects are provided with limited resources in the form of time and/or funding. The nature of projects is opposed to the operations of a business which are repetitive activities to produce products or services. They support the businesses growth and need different types of management. The main challenge when managing a project is to reach a satisfying level of completion

Characteristics of a project: 1. Each and every project should have a package of interrelated activities. Eg. IRDP Projects may stand-alone or be integrated a. Identification of the poor into a program, with several projects b. Knowing their choice contributing to one overall goal. c. Arranging bank