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More specifically, what is a project? Its a temporary group activity designed to produce a unique
product, service or result.
A project is temporary in that it has a defined beginning and end in time, and therefore defined
scope and resources.
And a project is unique in that it is not a routine operation, but a specific set of operations designed
to accomplish a singular goal. So a project team often includes people who dont usually work
together sometimes from different organizations and across multiple geographies.
The development of software for an improved business process, the construction of a building or
bridge, the relief effort after a natural disaster, the expansion of sales into a new geographic market
all are projects.
And all must be expertly managed to deliver the on-time, on-budget results, learning and integration
that organizations need.
Project management, then, is the application of knowledge, skills and techniques to execute
projects effectively and efficiently. Its a strategic competency for organizations, enabling them to tie
project results to business goals and thus, better compete in their markets.
It has always been practiced informally, but began to emerge as a distinct profession in the mid-20th
century. PMIs A Guide to the Project Management Body of Knowledge (PMBOK Guide) identifies its
recurring elements:
Project management processes fall into five groups:
Initiating
Planning
Executing
Closing
Project management knowledge draws on ten areas:
Integration
Scope
Time
Cost
Quality
Procurement
Human resources
Communications
Risk management
Stakeholder management
All management is concerned with these, of course. But project management brings a
unique focus shaped by the goals, resources and schedule of each project. The value of that focus
is proved by the rapid, worldwide growth of project management:
The main focus should be on ensuring that time, cost and resources are sensibly managed and available, and
committed to the project. This enables you to create a project plan and schedule, which is a key product of
this stage of the process. Risk and resources for resolving unforeseen issues, as well as progress
checkpoints, should also be factored into the plan at this stage.
Once this has been done, you are ready to start spending the main part of the project budget. You should
gain formal approval to begin the work, if necessary, now that you have a better idea how much it will all
cost.
Production and implementation
The production and implementation stage is when the project plan is put into action by implementing the
processes outlined in the previous stages. At this point any deliverables are produced (where applicable) as
defined by the project plan. For example, if you had a project to produce a new promotional pack for a trade
show, early deliverables might be to complete all of your product photography, and gather product
information and prices.
At this stage, it is important to ensure that the project remains focused on its objectives and that any factors
which could affect the execution of the project are closely monitored.
Monitoring and controlling
Throughout the production and implementation stage the ongoing progress of the project must be
monitored. Progress must be controlled and any issues which arise as a result of the day-to-day work must
be dealt with.
Project performance should be regularly observed and measured against the predicted expectations of the
project plan, as well as any quality measurement mechanisms also in place.
Closing
Closing is the last phase of any project and is when the work done is formally accepted and the project is
dissolved. Closure does not necessarily mean success, but simply the final point of the project - when failed
projects are cancelled, for instance, they should also be closed.
Commonly, closure involves the finalisation of all activities across the project and a handover into business
as usual if this applies. This should be accompanied by a project review or 'lessons learned' exercise and the
archiving of any relevant project documents, which can be used to feed into and improve any future projects
and plans.