A project can be described as a chosen set of activities which are ear-marked that need an allocation of resources such as people, money, time, materials, space, communication, quality and risk. The project needs these resources in order to meet pre-defined objectives. Thus, a project is a temporary endeavour undertaken in order to achieve a specific aim and to which project management methodologies and practices can be applied, regardless of the project’s size, budget or timeline.
Project management is about the implementation of knowledge, skills, tools and techniques to a wide range of activities in order to satisfy the requirements of a specific project. The term “project management” refers to a set of well-defined methods and techniques for managing a team of people to accomplish a series of work tasks within a well-defined schedule and budget.
What Project Management Depends On
When we analyse this definition, we see that project management is dependent on precise outcomes and challenges.
Effective Management Of Project Resources
Inputs needed to meet pre-determined objectives. In addition, these must be allocated and integrated in an optimised manner.
Delivery On Time And On Budget
A key aspect of project success depends on the on-time and in budget delivery of the project.
Ensure That A Project Is Delivered Within The Defined Constraints
The “Triple Constraints” – namely time, budget, and performance – must be defined. Then the constraint that has the highest priority becomes the driver of the project.
Well-Defined Methods And Techniques
By using project management standards and best practices, the likelihood of overall success is increased. Although there may be various individual standards and practices that vary in complexity and application, the goals are usually the same, in other words to produce desired project results within the boundaries of time, costs and available resources.