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Project Management Concepts

Check Out These 5 Revolutionary Concepts on Project Management

Practicing all project management concepts is a must for completing any project successfully. The most important ones are discussed in the following article.
Workspirited Staff
Last Updated: Jan 13, 2018
The business world is developing at a fast pace, with new working methods and management theories. Those working at higher levels in the management should be well aware of the methods of planning and developing a process. One of the most important concepts, essentially required in the corporate world, is project management.

As the name suggests, project management is the act of managing all available resources properly to complete a set task within a specific period of time. The person who is handed over this responsibility is referred to as the project manager. There are certain elements concerning a project and its management. These include the resources available and required, proper allocation of resources, the time set for deliverables, and most importantly, the budget limit for the same. The project manager has to first study all the requirements put forth by the client, access the resources available, and determine what all resources would be required. He then has to manage the resources according to his expertise, plan the project, and execute it within the deadline of deliverables.

Project Life Cycle Phases

Initiation: This is the very first stage, wherein the initiation happens; the project is decided to work upon, and rough ideas are brainstormed.

Planning/Design: After the initiating stage, the project planning phase follows, which includes devising a plan with the help of graphs, statistics, charts, research figures, etc.

Execution: In this phase, the project plan is implemented and performs the intended work.

Monitoring and Controlling: In this stage, the manager monitors progress of the plan, makes necessary adjustments for the resources to work, and ensures that the project is carried out as planned to meet the deliverables.

Closing: Here, the final deliverables are released to the customer.

Software Used

Applications which are used for the planning, scheduling, and recording details of projects are known as project management software. It can be many add-on applications combined together, or just one software to manage all aspects and stages. The main role of the software is to enable the manager to schedule work to be done, as per the time of deliverables. It also does the job of providing information, required by professionals working on the project. Some of the most recommended applications are Clarizen, @task, Tenrox, Project Insight, and Celoxis.

Certifications

Project Management Institute (PMI) is a professional institution that has certain awards for experts. The most popular and recognized certification is Project Management Professional (PMP). There are many professional credentials, such as Certified Associate in Project Management (CAPM), Certificate in Applied Project Management, Certificate in International Project Management, PMI Scheduling Professional (PMI-SP), PMI Risk Management Professional (PMI-RMP), Program Management Professional (PgMP), and many others. This is very valuable, along with work experience, in advancing a career.

Be it a big or a small project, the project manager is responsible for getting the work done in due time and within the decided budget.
Making success one project at a time
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