PROJECT MANAGEMENT

Let us discuss what is a project?

It’s a group activity intended to construct a special product, service etc.

A project is time bound assignment and it has a distinct beginning and completion time, and defined possibilities and resources. A project is special and it is not a regular process, but a specific set of process and procedure designed to achieve a particular goal. So a project involves team work often includes people who don’t usually work together and meant for specific project– sometimes from diverse organizations and across several geographies.

At the commencement of a project, it's very very important to develop a concrete understanding of the project's goals, and how the different elements will fit collectively for a successful completion of project.

The development of equipment/machineries for an improved business process, the construction of a bridge, apartments, corporate houses, the support effort after a natural disaster, expansion of market into a new geographic segment — all are known as projects. All projects must be skillfully managed to deliver the on-time, on-budget results, knowledge and integration that organizations need to be in the market.

Project management is the application of facts, talent and procedure to perform projects efficiently and successfully. It’s a strategic capability for an organization, enabling them to secure project results to business goals, better compete in their markets.

Project management processes fall into following groups:

• Initiating – in construction projects, engineer should initiate the process by examining the plan drawings provided thoroughly before start.
• Scheduling (plan) – Tasks should be scheduled as per the 3D schematics as well as discussions with the project co-ordinator.
• Executing - Resources' tasks are circulated and groups are informed of their responsibilities. 
• Monitoring and Controlling - Project managers should monitor the project status and progress to the actual scheduled plan, as resources execute the planned work. During this phase, project managers may call for to fine tuning of schedules or do what is essential to maintain the project on track.
• Finishing - After project tasks are done and the customer has accepted the outcome, an estimate is necessary to emphasize project achievement and/or gain knowledge from project history.

Projects and project management processes differ from industry to industry; however, these are more customary fundamentals of a project. The goal is typically to offer a product, modify a process or to solve a problem in order to benefit the organization.