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What Is A Project in Project Management

A project is a temporary endeavor undertaken to create a unique product, service or result. Project management involves defining project requirements, estimating resources and timescales, developing a management plan, monitoring progress against the plan, and closing the project once completed. The core components of project management are planning, executing, monitoring and controlling, and closing project activities.

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380 views

What Is A Project in Project Management

A project is a temporary endeavor undertaken to create a unique product, service or result. Project management involves defining project requirements, estimating resources and timescales, developing a management plan, monitoring progress against the plan, and closing the project once completed. The core components of project management are planning, executing, monitoring and controlling, and closing project activities.

Uploaded by

Samuel Antobam
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Project and Project Management

A project is a series of tasks that need to be completed in order to reach a specific outcome. A
project can also be defined as a set of inputs and outputs required to achieve a particular goal.
Projects can range from simple to complex and can be managed by one person or a hundred.

Projects are often described and delegated by a manager or executive. They go over their
expectations and goals and it’s up to the team to manage logistics and execute the project in a
timely manner. Sometimes deadlines can be given or a time limitation. For good project
productivity, some teams break the project up into individual tasks so they can manage
accountability and utilize team strengths. (https://www.wrike.com/project-management-
guide/faq/what-is-a-project-in-project-management/

A project is a unique, transient endeavour, undertaken to achieve planned objectives, which


could be defined in terms of outputs, outcomes or benefits. A project is usually deemed to be
a success if it achieves the objectives according to their acceptance criteria, within an agreed
timescale and budget.

A key factor that distinguishes project management from just 'management' is that it has this
final deliverable and a finite timespan, unlike management which is an ongoing process.
Because of this a project professional needs a wide range of skills; often technical skills, and
certainly people management skills and good business awareness.

Time scheduling is a collection of techniques used to develop and present schedules that
show when work will be performed.
Finance: how are necessary funds acquired and costs managed
Quality: how will fitness for purpose of the deliverables and management processes be
assured

(https://www.apm.org.uk/resources/what-is-project-management/
A project a temporary endeavour undertaken to create a unique product, service or results.

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 don’t
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
(https://www.pmi.org/about/learn-about-pmi/what-is-project-management)

In summary
Project is a temporary endeavour undertaken to create a unique product, service or results
within a budget.

Project management
Definition

Project management is the application of processes, methods, knowledge, skills and


experience to achieve the project objectives.

The core components of project management are:


 defining the reason why a project is necessary;
 capturing project requirements, specifying quality of the deliverables, estimating
resources and timescales;
 preparing a business case to justify the investment;
 securing corporate agreement and funding;
 developing and implementing a management plan for the project;
 leading and motivating the project delivery team;
 managing the risks, issues and changes on the project;
 monitoring progress against plan;
 managing the project budget;
 maintaining communications with stakeholders and the project organisation;
 provider management;
 Closing the project in a controlled fashion when appropriate

https://www.apm.org.uk/resources/what-is-project-management/

Project management, then, is the application of knowledge, skills, tools, and techniques to
project activities to meet the project requirements.

It has always been practiced informally, but began to emerge as a distinct profession in the
mid-20th century. PMI’s A Guide to the Project Management Body of Knowledge (PMBOK®
Guide) identifies its recurring elements:

Project management processes fall into five groups:

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

Project management knowledge draws on ten areas:

1. Integration
2. Scope
3. Time
4. Cost
5. Quality
6. Procurement
7. Human resources
8. Communications
9. Risk management
10. Stakeholder managementhttps://www.pmi.org/about/learn-about-pmi/what-is-project-
management

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