Project Management: The Components Of Project Management

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1. INTRODUCTION: Project management is the application of knowledge, skills, processes, and experience to achieve the project objectives. A project is a unique attempt, undertaken to achieve planned targets, which could be defined in terms of outputs or benefits. A project is usually viewed to be a success if it achieves the objectives according to their acceptance measures, within an agreed timescale and budget. Some significant components of project management are: • Defining why a project is necessary • Knowing project requirements, specifying quality of the products, estimating resources and planning timescales • Preparing a budget and managing it • Securing agreement and funding • Developing, implementing and Monitoring a management plan for the project • Encouraging and motivating the project team • Managing the risks and changes on the project • Communicating well with stakeholders and the project organization •…show more content…
VI. Human Resource Management This area involves HR planning like roles and responsibilities, project organization, and staff management planning. It also involves assigning staff; access and analyze performance of project team members, and overall management of the project team. In this particular project, the project manager is the “Boss” of the project and Human Resource Management is essentially the knowledge area of running the project in relations to the resources assigned to the project. VII. Communications Management This area focuses on keeping the project’s stakeholders properly informed throughout the entire project. Communication is a mixture of written and verbal, formal and informal but it should be always proactive and in-depth. The project manager must distribute accurate project information in a timely manner to the correct
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