What is Project Management?

Answer

All faculty, staff and students have the ability to manage projects.
 

What is Project Management?
 

An overview of the project management application is an initiative to define the knowledge, skills, tools, and techniques to meet project activities and requirements.

A project is defined as a temporary endeavor designed specifically to create a unique product, service, or result. A project is comprised of individual tasks, or it can be collaborative (teams), and it is always designed to achieve a specific objective.

Work tasks are categorized into two entities: projects or operations.

  • A project is designed to attain an objective and terminates once completed. Projects are generally temporary and unique in nature, and completion is required.
     
  • Operational Work is designed to be an ongoing operation to sustain a business function. Generally, tasks are ongoing and repetitive.



Project management is the methodical approach to completing the project. It is the application of knowledge, skills, tools, and techniques to achieve the desired project requirements.


Five Project Management Phases:

  1. Initiating

  2. Planning

  3. Executing
     
  4.  Monitoring and Controlling
     
  5. Closing


    Image of the 5 Project Management Phases


    The Project Managers (PM) or Project Leads are responsible for managing project objectives.

    The Project Management Team is the group that participates in a project.

    Project Managing Principles

    • Identifying project requirements (what).
       
    • Establishing clear and achievable objectives (why).
       
    • Balancing the competing demands for quality, scope, time, and cost (how).
       
    • Adapting the specifications, plan, approach, and expectations for various stakeholders (who).
       

    A Guide to the Project Management Body of Knowledge (PMBOK) is a project management reference book, which presents a set of project management standard terminology and guidelines.

    Project Management Body of Knowledge Image
     

    The Project Management Institute (PMI) publishes this guide. The primary purpose of the guide is to:
     
    • “Identify means to provide a general overview as opposed to an exhaustive description” (PMI, 2021).
       
    • “Generally recognized means that the knowledge and practices described are applicable to most projects most of the time and that there is a widespread consensus about their value and usefulness” (PMI, 2021).
       
    • “Good Practice means that there is general agreement that the correct application of these skills, tools, and techniques can enhance the chances of success over a wide range of different projects” (PMI, 2021).

If you need further assistance, please contact the ITS Project Management Team.

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