Project management is the practice of managing resources to achieve successful implementation of projects, including determining and defining project objectives and scope, developing schedules, controlling resources, and risk management. Project management also relies heavily on planning, scheduling, and controlling processes to ensure projects are completed to specifications within the agreed upon timeframe and budget. This article will provide an overview of project management, discuss essential planning and scheduling processes, and explore control methods for successful project completion.
What is Project Management?
Project management involves the planning and execution of all the activities required to complete a project within an agreed upon scope, timeframe, and budget. It is typically handled by one or more persons responsible for the overall success and complete organization of the project. Successful project management typically follows four main processes:
- Initiation: Identifying the project, critically assessing it, and preparing a project definition and scope.
- Planning: Setting the project objectives and scope, evaluation of resources and tasks, and creating a timeline and budget.
- Execution: Executing the project as planned, allocating resources, coordinating tasks, and monitoring progress.
- Closing: Finalizing details and closing projects as complete, achieving expected outcomes.
The Benefits of Project Management
Project management can bring a variety of benefits, including improving success rates and cost savings. By understanding the objectives and scope of a project, and creating a comprehensive timeline and budget all the way through to completion, potential problems can be identified and addressed early, minimising risks and reducing project costs. Additionally, project management offers greater transparency and control over resources, reducing the chance of missing deadlines or important milestones.
Planning, Scheduling and Task Assignments
Project planning is an essential part of managing any project and must be completed before tasks can be assigned or timelines drawn up. Planning involves setting objectives and goals, identifying key tasks and sub-tasks, and obtaining detailed project specifications from stakeholders. Once completed, task assignments can be made, schedules drawn up and resources allocated accordingly. This will ensure tasks are executed in the most efficient way and increase the chances of successful project completion.
Scheduling plays an important role in project management, as it’s the process of setting tasks and milestones to be reached within specified timeframes, such as daily or weekly. Schedules should be prepared based on the gathered project information, allowing the project manager to easily set and monitor deadlines, while accounting for future tasks, resources needed, and possible delays.
Controlling the Project
Project control is the process of monitoring and regulating every aspect of a project to ensure it stays on track. Control measures can include progress checks, recognising potential problems, and making changes to plans when necessary. Conceptualised as a feedback loop, project control systems should allow project managers to measure the current performance of the project, compare it against the objectives, and make adjustments in order to return the project to its original scope and timeline.
Risk Management
Risk management is a key component of project control, as it’s the practice of analysing and responding to potential risks to the project, both known and unforeseen. Analysing a project for risks involves assessing the identified tasks and recommended solutions, identifying any latent risks, and outlining steps for risk mitigation. Risk management should be done continuously throughout the project’s life cycle.
Project Management Software
Project management software is available to help manage a project’s various components, from budgeting to scheduling and risk assessment. By entering project data and parameters into the software, projects can be easily managed and monitored, allowing managers to measure progress and performance, and make changes to plans quickly. Most project management software also offers analytics and dashboards, allowing managers to locate potential issues quickly, and alleviate risks.
Project management is an essential part of any successful project, as it is the practice of managing all aspects of a project to ensure its successful completion. Planning and scheduling tasks, assigning resources, and controlling projects is vital to achieving desired outcomes within the allocated budget and timeframe. By understanding the four main processes of project management, along with risk management and project management software, project managers will be well equipped to tackle any project.
