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
Here, the final deliverables are released to the customer.
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.
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), 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.