Project Management Basics

Project Management Basics

Project Management Basics

Project is a piece of work with certain deadlines and budget associated to achieve specific requirements. Project management always plays an important role in every project because the project success lies in it. The purpose of project management is nothing but proper planning, organizing resources and control activities so that the project is completed successfully without incurring any risk factor.

Depending upon the project you may have to handle various steps for making a project successful. One of the critical factors for project success lies in proper planning. Project management keeps the things clear and efficient; it also helps the team members to understand their responsibilities in an appropriate way, thus reducing the threats of the project.

Project management process varies from industry to industry; however, the basic phases of project management are:

Initiation

Planning

Project execution and control

Project Closure

Project initiation phase tells how to initiate a project by defining its purpose, scope and justification for implementing the project and defining solution for the project. To be more specific, business cases are written and feasibility study is performed in this phase.

Project Planning: The most crucial phase for project manager is planning a project, wherein one has to make some guess about available resources and various equipment’s needed in order to finish the project successfully. In this phase of project planning budget estimation and deadlines are defined.

Project execution and control Project: Execution simply means comparing the project status to the actual plan and deliverables are physically built. Each deliverable will be constructed where project manager will monitor and control the deliverables. For controlling deliverables status reports are considered. Project managers may need to adjust schedules or do what is necessary to keep the project on track.

Project Closure: This phase involves releasing the final deliverables to the customer and getting approval from the customer. Projects should be formally closed by writing a summary and handing over project documentation to the customer, releasing project resources and communicating project closure to all stakeholders. The final step is to go for a Post Implementation Review to identify the level of project success and note any lessons learned for future projects.

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