What is Project Management?

What is project management and who is the project manager? More exactly, what is a project? It’s a temporary effort promised to produce an individual product, service or outcome.

A project is temporary in that it has a fixed opening and end in time, and hence limited scope and resources.

And a project is unique in that it is not a regular job, but a special set of actions intended to perform a unique purpose. So project partners frequently involve people who don’t normally work collectively – sometimes from several companies and across various locations.

What is Project Management

The construction of software for an enhanced business method, the construction of a building or platform, the maintenance work after a natural catastrophe, the increase of sales into a new geographic business — all these we may call projects.

And all must be expertly managed to achieve with defined time, budget outcomes, knowledge, and union that companies need.

Project management, then, is the use of experience, abilities, means, and methods to project actions to satisfy the project specifications.

It has constantly been practiced informally but began to arise as a separate profession in the mid-20th century. The popular PMI’s A Guide to the Project Management Body of Knowledge (PMBOK® Guide) recognizes its recurring components:

Project management processes are separated into five major groups:

  1. Initiating
  2. Planning
  3. Executing
  4. Monitoring and Controlling
  5. Closing

Project management knowledge maps 10 areas:

  1. Integration
  2. Scope
  3. Time
  4. Cost
  5. Quality
  6. Procurement
  7. Human resources
  8. Communications
  9. Risk management
  10. Stakeholder management

What is project management in detail?

Let’s check what we have so far

Project management is the utilization of means, techniques, abilities, awareness and expertise to solve specific project goals according to the project agreement standards within accepted parameters. Project management has ultimate deliverables that are limited to a finite timescale and budget.

An important part that differentiates project management from simply ‘management’ is that it has that final deliverable and a limited timespan, unlike management which is a continuous method. Because of this, a project specialist needs a broad spectrum of abilities; sometimes technical skills, and assuredly people management experience and genuine business knowledge.

A project is a unique, temporary effort, undertaken to accomplish outlined goals, which could be described in terms of outputs, results or advantages. A project is usually considered to be a success if it delivers the goals according to their agreement standards, within an acceptable timescale and resources. Time, cost and quality are the main topics of every project.

Time: schedule is a set of methods applied to produce and show schedules that confirm when work will be completed.

Cost: how are certain supplies acquired and investments managed?

Quality: how will suitability for the goal of the deliverables and administration methods be guaranteed? In other words – How can we deliver the product as we promised?

The major elements of project management are:

  • describing the purpose of why a project is needed;
  • gathering project specifications, defining the quality of the deliverables, assessing resources and time needed to finish the entire work;
  • planning a business case to confirm the investment;
  • defending corporate arrangement and funding;
  • promoting and executing a management strategy for the project;
  • directing and driving the project delivery team;
  • controlling the risks, problems, and changes on the project;
  • monitoring progress toward the initial plan;
  • managing the project resources;
  • controlling discussions with stakeholders and the project organization;
  • delivery management;
  • finishing the project in a controlled manner when suitable.

Why do we use project management

Project management is aimed at providing an end outcome that will affect some change for the advantage of the company that stimulated the project. It is the induction, preparation and direction of a series of tasks needed to achieve this end outcome. Projects that need legal management are those that:

  • create something unique or modified, physical or immaterial;
  • have a limited timespan: a specific start and end;
  • are expected to be complicated in terms of production or organizations associated in the entire activity;
  • need the administration of change;
  • require the control of risks.

Investment in efficient project management will have several advantages, such as:

  • providing a more prominent possibility of reaching the wanted outcome;
  • guaranteeing effectiveness and most desirable use of resources;
  • meeting the differing requirements of the project’s stakeholders.

When do we use project management?

Projects are separate from business-as-usual movements and happen when an association requires to address an answer to set of conditions within an accepted budget and timeframe. Projects need a team of people to grow together transitorily to concentrate on particular project goals. As a consequence, powerful collaboration is necessary to prosperous projects.

Project management is involved with managing discrete units of work to complete particular goals. The way the work is executed depends against an extensive assortment of circumstances.

Who uses project management?

Everybody manages projects, even if they aren’t formally declared a ‘project manager’. Ever organized an event and tried to make things properly? That’s a project you managed with a tandem of people, and project management is a real-life skill. More formally, projects are involved in many industries and business:

  • Transport and Infrastructure
  • IT
  • Product production
  • Building and Construction
  • Economics and Government

How to start in the field?

Start learning simple practices, read books, articles. Watch project management video clips. Your initial amateur efforts will be very important before you delve deep into any particular project management methodology. Leave the courses ahead. Now just be curious a lot.

Project Management Certifications

Find and understand some of the best project management certification programs and find a suitable one for you. If you decide to develop in a Product Management career, you can also check some of the best online product management training courses in the world.

Who are Project Managers?

They are prepared, enthusiastic and goal-oriented people who understand what projects have in common in general. Their strategic position is in organizational success.

Project managers are change advocates: they execute project goals their own and use their abilities and background to encourage a feeling of shared goal within the project partners. They enjoy the ordered sense of new difficulties and the obligation of pressing business outcomes.

They work fine under stress and are pleased with innovation and complexity in changing situations. They can change quickly between the “big picture” and the small-but-crucial circumstances, understanding when and how to focus on specific ones.

Project managers encourage the people abilities required to increase trust and connection amongst all of a project’s stakeholders: its sponsors, those who will make use of the project’s outcomes, those who manage the resources demanded, and the project organization members.

They have a wide and adjustable toolkit of methods, solving complex, interdependent actions into tasks and sub-tasks that are documented, controlled and regulated. They adjust their strategy to the circumstances and restrictions of every project. And they are constantly developing their own and their teams’ skills within lessons-learned reports at project finish.

The management career in today’s world and business

Project managers are observed in every kind of business — as representatives, managers, entrepreneurs and autonomous experts. With practice, they may become program directors (responsible for multiple similar projects) or portfolio managers (accountable for collection, prioritization, and adjustment of projects and programs with an organization’s approach).

And they are in growing interest worldwide. For decades, as the velocity of economic and technological change has risen, companies have been focusing more and more of their power into projects preferably than routine services.

Today, senior managers and HR directors understand project management as a strategic skill that is essential to business success. They understand that experienced and credentialed practitioners are among their most precious resources.

Situation in Europe

Project Management has developed a lot in recent years and today the PMA.bg (Project Management Academy) established a very modern project management certification and course in Bulgaria and citizens from many Eastern Europe countries join the courses with great ambitions and motivation. The field develops everywhere in the world.

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8 Comments

  1. Greetings everyone!
    I checked carefully the training courses mentioned here. They are really nice. Unfortunately I cannot make a decision. Can you suggest something? I know this is not a very good question, but anyway, I will really appreciate it. Thanks a bunch!

  2. Hello all,
    That is really a nice and detailed publication. This expresses the whole project management practice and processes but the role of the project manager is not very deeply revealed. Can you share some practical examples of the responsibilities and the daily job duties of the project manager? It would be great if we can imagine this position more in real examples or stories. Thanks a lot

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