Project Management

Project management procedures are activities with clear cut interfaces of various processes which intend to meet project requirements. Project management will be accomplished following a set of defined processes using project management knowledge, tools, skills, and techniques, so the right combination of processes and procedure will lead to accomplishing those set objectives.

A project is a piece of work that is planned and carried out. It can be just a simple task but we usually use the word for work that has several elements and needs to be carried out over a period of time. A project involves planning and preparation.

Major characteristics of a project are established objectives, having defined life span with a beginning and end, new or unique across-organizational participation, resources, specific time, along with cost and performance requirements. Every project has constraints like scope, time, and cost. Each project has starting and ending time, cost, and other management functions.

A project is reviewed as any series of tasks and activities that is directly linked to a specific assignment that must be completed by a specified deadline. A project will usually have a concrete start and completion date with a set amount of money allocated to fund the project. Projects are multifunction which consists of both human and nonhuman resources such as equipment, budgets and people.

The basic phases of the project lifecycle are initiation phase. In this phase, the project manager is hired or appointed, and then selects a team. During this phase, the need to be met by the project is carefully defined. Individuals impacted by the problem are consulted, needs are discussed and solutions debated. The early documentation of the project is also generated during this phase. This typically involves a business case justification for the process, an overview of the project and the defining of milestones. Milestones are points at which the project