const-project-management More specifically, what is a project? It’s a temporary group activity designed to produce a unique product, service or result.

 

 

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.

 

 

 

Project management, then, is the application of knowledge, skills and techniques to execute projects effectively and efficiently. It’s a strategic competency for organizations, enabling them to tie project results to business goals — and thus, better compete in their markets.

 

 

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

 

 

 

IACT Global IACT Global (51 Posts)

IACT is India's largest education company for working professionals having trained more than 60,000 professionals till now. IACT is also an ISO 9001 certified company (by TUV-SUD) and recipient of the prestigious Red Herring Top 100 Asia Award for 2012. IACT has collaborations with top Indian institutes & global certification bodies and offers more than 80 courses in different domains.


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