Overview
The organization, coordination, planning, scheduling, coordinating, and termination of a project in order to achieve certain objectives and goals as set within certain constraints of scope, schedule, and budget is project management. Project management requires coordination of people and materials, and often involves working with stakeholders to ensure a successful result with the minimal amount of risk to the project and constraints.
Here are the key components of project management:
Initiation
This phase involves defining the project’s objectives, scope, and feasibility. Project managers identify stakeholders, assess risks, and establish the project charter, which outlines the project’s purpose, deliverables, and constraints.
Planning
In this phase, project managers develop a comprehensive project plan that outlines the tasks, milestones, timelines, resources, and budget required to achieve the project goals.
Execution
During the execution phase, project managers oversee the implementation of the project plan.
Quality Management
Project managers ensure that project deliverables meet the required quality standards and specifications.