Posted on : 01 Feb, 2021, 10:13:59 AM
Created by : Somya Goswami
To say ahead in today’s competitive global economy, companies are looking for options to consistently deliver better business results. And one way to achieve that is PROJECT MANAGEMENT.
In this blog, we will discuss the following points;
The main challenge of Project management is to achieve the project goals and objectives while keeping in mind the pre-defined constraints. The primary constraints are scope, time, quality, and budget. The secondary – and more important- challenge is to optimize the allocation of necessary inputs and integrate them to meet pre-defined objectives.
For successful completion of a project, implementation of project management principles is necessary, can be applied to any stage of a project that falls under a different area of responsibility in the overall project organization.
Project structure deals with the main outline of the project and can be successfully created by considering three points:
The definition phase is where many projects go wrong. So, a successful definition must involve the active participation of the entire team at every step to facilitate acceptance and dedication to the project.
The project manager is responsible for the achievement of all goals and objectives. These goals should always be defined using the SMART paradigm (specific, measurable, ambitious, realistic, and time-bound). It is better to define clear goals before the project begins.
Flowcharts, structure plans, milestone plans are useful tools to keep your project on track. A project manager should be able to present a complete picture of the status of the project to the respective stakeholders at each level of the project. Full transparency about the project status is a must.
The project manager has to evaluate risks regularly because; every project comes with a variety of common risks. It’s important to understand that, your project is a unique endeavor with strict goals concerning costs, appointments, and performance. The sooner you identify risks, the sooner you can rectify them.
As a project manager, it not important that you can identify every single risk that may occur, hence, it’s better to work to identify the risks and develop specific strategies to avoid them.
The following project management types are the primary ones that companies used frequently
The project management system broadly falls under two categories: General software applications and project management software applications.
With these points kept in mind, let’s take a look at the top 20 best project management software.
Free for teachers and students
$99/month for businesses
Enterprise plan- $80/month
The list does not end here, in fact, there are plenty of options out there to choose from, but always keep in mind to pick the right project management software. It is crucial to consider crucial factors on which your project needs and requirements.
This brings us to the end of this blog, “what is project management?” I hope the points mentioned have made your understanding concise and clear about the term project management and various other aspects of it.