What is Project Management?

Before understanding Project Management, it is important to know what a Project is,

• A project is temporary. It has a definite start and end date. Thereby having a defined scope and resources
• A project is also unique. It is not a routine everyday operation. It is a specific set of operations designed to accomplish a well-defined objective

To be able to do a project, you need a project team,

• A project team includes people, who might not usually work together and could belong to different organizations and across multiple geographies, that come together to complete the project 

Now to define Project Management, it is the application of knowledge, skills, methods, experience, tools and techniques on project activities to meet the project objectives. Developing a new website or a software, relief effort as a result of a natural disaster, construction of a building or a bridge are all example of a project that requires project management. Business leaders understand that project management is a function within the organization and hire individuals that are specifically trained in this discipline (project managers) to handle organization’s project management needs Project management processes fall into five groups: (as defined by PMI)

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

Project management knowledge draws on ten areas: (as defined by PMI)

1. Integration Management
2. Scope Management
3. Schedule Management (known as Time Management in PMBOK 5)
4. Cost Management
5. Quality Management
6. Project Resource Management (known as Human Resource Management in PMBOK 5)
7. Communications Management
8. Risk Management
9. Procurement Management
10. Stakeholder Management

Check more articles on Project Management Basics