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The following article was published in our article directory on September 13, 2016.
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The Basics of Project Management

Article Category: Business Management

Author Name: Dr Bello Omololu Ed.D

The Basics of Project Management

The world of business administration is complicated and a bit mind-boggling. Keeping a business up and running the right way entails careful planning and consistent productive work. Business have goals in mind, and these goals are often achieved by breaking it down to smaller, more achievable projects. These business projects are then completed with the aid of proper project management. What is this process and how important is it to an organization? We'll get a heads-up about these things in this article.

What is a Project?

Before learning the definition of project management, we must first understand what a project is. A project is a definite and temporary activity done to attain a unique and specific business objective. A business project is simply a small set of activities that must be completed in order to create a certain product or reach a desired end-result. Projects aren't routine operational practices; they're unique in that they have particular sets of objectives and goals to work on.

Projects have a set time frame and ends once the specific products and goals are successfully produced. Examples of projects include market expansion to a new local area, the construction of a new corporate building, and the creation of new software for easier business management.

What is Project Management?

It is a business process concerning the proper application of knowledge, techniques and skills to reach a project's goals and objectives. It's all about taking a project and acting on it to come up with a successful end result. This process has been informally practiced by many organizations until the 20th century, when it officially became a unique profession.

Overview of the Project Management Phases

To successfully complete a project, good management skills are necessary to propel the team members to the right direction. Here is an overview of its different phases:

• Project initiation and Planning
Every project starts with a specific idea in mind. To make this idea come to life, a dedicated team is formed within the organization. A clear set of goals and objectives is created to guide the team. The timeframe, methods and best practices for the project are also determined.

• Execution Phase
After careful planning, the project team moves on to the execution phase. This is the working phase of the project. The team starts applying their knowledge, skills and expertise in order to complete the project successfully.

• Control and Monitoring
A project manager should monitor the project's progress while it is ongoing to ensure quality work and to check if the goals and objectives are slowly met. There are some tools he can use to evaluate the project's status, such as Post-Implementation Review processes and the After Action Review Process.

• Closing Phase
Once the project is done, it enters the closing phase. Here, the project manager checks the outcomes and terminates the project once it's deemed to have met its main goals. The team will see which practices and processes have been successfully applied and which ones have to be shunned. The evaluation results will help the organization improve their future processes and methods for the next projects they will undertake.

Project Management for an Organization's Success

Each project undertaken by a team needs good project management for it to be successfully completed. If a project is mismanaged, then it has a strong tendency to fail. Project management is a learned skill that will truly benefit an organization in the long run.

Keywords: project management,what is project management

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