Project management is the science as well as art of organizing the essential components of a project, whether it is a project of new product development, launching a new service, or a new marketing campaign. It is a careful planning and organising of efforts to complete a successful project.
A successful project management requires proper development of an effective project plan, which includes defining the project goals and objectives, identifying tasks and measures to achieve the set goal, identifying the needed resources, determining the budgets and the time frame to complete the project.
After that, a proper management for the implementation is required to ensure the successful completion of the project according to the requirement based on the specifications of the customer.
Project management requires a set of steps that need to be followed in an effective and proper way to achieve the desired goal of the project. A glitch in any step can lead to discrepancy in the final result. The steps involved in the traditional approach of project management are:
This is the initial stage of project management in which the stakeholders are identified and the project is defined accordingly. This phase also includes the setting of goal for the project and the levels are set as per the expectations of the project. In addition to that, an outline of the scope of the project and the project statement is developed for the execution of the project plan.
The Planning Step
In this phase the task list is developed for all the people involved in the project along with the project activities required to complete the entire project. This process also involves, the development of project schedule and project budget and finally sent for the approval of the stakeholders.
The Execution Step
In this step the project work is executed. It involves building up a strong team and a estimated budget implied for the project. The project manager assigns the work to the team members as per their expertise to begin with the project work. Moreover, this step involves regular communication with the stakeholders to develop problem remediation methods.
The Control Steps
Now, the project manager is responsible for the ongoing activities of the project to take place in time. By doing so the project manager keeps himself updated about the recent developments of the works assigned to everyone and proceeds accordingly. In addition to that this stage involves the proper documentation and communication of all the activities.
This is the final stage in which the project resources are released and the project manager along with the business owner discusses the project outcome with the stakeholders to analyses the final outcome of the project.