PROJECT MANAGEMENT AND ITS IMPORTANCE

PROJECT MANAGEMENT

By definition, it is the application of knowledge, skills, tools and techniques to project activities to meet the project requirements (PMBOK, 5TH Edition). Please note that PMBOK stands for Project Management Book of Knowledge)

That means if you want to manage the project successfully, you need to have:

1.    Knowledge – know-how, i.e the processes that are used

2. Skills – like management skills, leadership skills, communications skills etc

3.  Tools – Project management software like MS Project, Asana, Smartsheet, Templates, Gantt chart etc

4. Techniques – Decision making, resource optimization, meeting etc

These applications of Project Management help to

1.  To identify the requirements

2. To address the needs, concerns and expectations of the stakeholders (Stakeholders are those who involved directly or indirectly in the project, those who are interested or not interested in the project, those who are can be affected and not affected by the project)

3. To manage stakeholders

4. To create the project deliverables

5. To balance the project constraints which include but not limited to scope, quality, schedule, budget, risks and resources.

6. And much more

Reference:
PMI (2013). A Guide to the Project Management Book of Knowledge (PMBOK Guide 5^th Ed.) USA, Project Management Institute

If there are any questions, comments and suggestions, Please do not hesitate to post on the comments below.