Project management is fun. Project management is actually a discipline that helps you to run your project very easily.
The best part is that it can benefit all professions as well as the accounts. Basically, this blog is for those who want to learn about project management.
I mean, it’s very rare to see any professional that hasn’t run the project. It just so happens when sometimes they don’t know they were managing projects, but they were projects indeed.
So if you are looking for a simplified framework of project management and implement it in work, then you are at the right place. You can add project management skills to your skill set.
What’s in this
- What is a Project?
- Project Management Skills
- History of Project Management
- Project Management Terminology
What is a Project?
We constantly hear politicians manage the human resource teachers, student organisers, builders real estate, and many more that I got to complete this project.
Is it just another buzzy word referring to an activity done. No, not at all, there’s a lot of difference. Project is something real and exciting and extremely important to achieve success in your goal.
A random endeavor has taken to build a new or unique product service or result.
It is a temporary initiative that is a good plan and you can execute it to achieve a specific goal.
Let’s break it down to some terms.
The project is a temporary initiative. Generally, it is distinct from normal business operations that haven’t had a predetermined start and end date.
Normal operations are characterized by routine work and established companies. Think of the day to day activity, which is not very different from one day to another.
The accounting and finance department product sales and marketing etc. There is no end date assigned to these repeating activities. The project, on the other hand, has a strict expiry date.
There is a specific goal you wish to achieve with this project. You can think of it as an output of the project.
This output can be a product like construct a new office building, services like outsource eco-center, or an approach like improving business processes.
Output, together with the work done and created, is called scope. The scope of each project is unique.
They can be project outputs that are similar buildings and the same house in different places, for example.
But the fact that the land and locations are different is enough to change the scope.
The architect and engineer will need to adapt their construction and accordingly to change the way the project work would be done.
If the word and output are the same, this would not be a project, the scope is not going to be unique, and it would be a normal business process.
Resources dedicated explicitly to accomplishing the goal
This reform the project management triple constraint.
Time cost and scope dependent on each other.
If one of them changes, it will trigger a change in the whole project management by triggering the other two.
For example, let’s say you need to pull the end date of your project forward to do this.
You would either need to increase your resource by spending more or producing a few product outputs or perhaps even both.
A temporary initiative that is agreed, planned and executed to achieve a specific goal is project management. Projects are complex initiatives.
Going to a new restaurant for dinner is like a temporary activity with a specific coal and fixed budget, but is not a project.
It also needs to benefit the business by working in conjunction with a business strategy.
Business Strategy and Projects
So how the project must relate to a business strategy and what demand project in the first place.
Well, few critical triggers would jump-start a business to execute a project. There might be market needs.
This is when your company wants to develop products to address their client’s needs the order to keep up with the competition.
For example, a bank needs to develop mobile banking as other banks have done.
To get there, the banks need to manage a complex project with various activities like software development security privacy regulation, etc.
And of course all under time and budget constraint.
If you were too late to introduce it, you risk losing customers, or there could be business needs during a financial crisis.
Many companies had to execute a project to reduce costs, optimize a process, and also increase revenues by expanding the customer base to stay in business.
A command for a project may arise from tech advancement.
Technology gets advanced to the point where your business may be automated, or your products need to change.
For example, anything you use your smartphone paying for bills booking a taxi surely involves a project.
The project may come as a result of customer requests.
You are a car dealer, and your biggest client is a taxi company, and they request making your internal system more compatible with theirs.
You are likely to approve such a project due to a legal requirement.
It could be for social needs as well as ecological consideration.
The project will be an instrument to achieve the goal.
In the eye, director projects are an investment to see work while returned from the business.
Board of director select a lot of projects and add them to project portfolio management.
This is a process of prioritizing projects and the administration and control of a large set of projects and programs.
Basically, the objective is to achieve the result and combined resources across and plan optimally.
Projects consume an enormous amount of resources, finances, time efforts, and attention.
Once we have done a project and the board of initiatives elects it, then it comes down to one person to ensure the project execution is successful.
That is project managers for you. They are the CEO of the project. There will be accountability for project success, and for a project to be successful, it needs to accomplish a specific goal in prior time and budget.
What if the two factors are not sufficient?
When a project management triple constraint is put in place, it must be realistic. Project managers have to access, discuss, negotiate, and adjust the goal.
Pm makes most of their time and resources.
An animal that is important for the project’s progress to achieve the successful completion of the project managers needs to have full control and visibility on all project-related work and take action immediately when identifying something that is not progressing and track.
They will be e.on han to overcome their barrier and keep them motivated.
Project Management Skills
You need to be able to manage work in the area will sometimes you don’t have any experience with it.
Management skills set.
Project management skills and business knowledge
It’s about knowing the fundamentals of leading the project work, addressing project situations, and knowledge about the project life cycle.
Then you have planning quality, which means effective communication, working with the tools and documents of management, awareness of project management skills in industry standards.
People and Workflow Management Skills
Business analysis of management skills, efficient organization, issue resolution skills like working with stakeholders, and people skills.
Management strategy and leadership skills
Enclose navigation and managing the project portfolio, working towards the program’s management strategy objectives, influencing shareholders, and promoting the value of the project in business strategy.
The attitude of the project managers towards project management and professionalism plays a big role in executing the project.
They must show so high moral strong ethics and credibility.
History of Project Management
This period was all about expedition to find new land and resources. One particular project management skills followed by Columbus have a tough time finding the budget in his initiative.
To find a path through West Asia. Is budget was three ships and a timeline of one year with the request of 10% of future revenue from any discoveries.
Is business case was rejected multiple times by the king of Portugal Genoa, England. Finally found a sponsor, king of Spain.
Here comes and the industrial revolution the beginning of fastest growth recorded in history. Automation and mass production change the way of trade and the way of industry operate.
The competition started growing, and with it, the better use of time and employees for given work became much more critical, which require real project management skills.
This is when project management skills, as we know it came into its own and started developing.
Henry Gantt, one of the management’s fathers, created a simple yet ingenious table that illustrates activities that need to be performed on the vertical axis and its time indicator on the horizontal axis.
This was probably the first project schedule.it was permanently used during World war one to plan and track in Navy ship construction.
Critical path method
The CPM helps project managers to calculate the fastest way to complete a project. This is done by analyzing how their different activities are linked to each other.
Together with the expected duration, it helps project managers identify the best way to sequence their events.
In 1960 project management was established as a profession.
Where is business hub progress technologically and expanded geographically like never before? The exception is the amount of complexity around the desired result.
Design connection speeds online payments client Twitter recognization, and so on. In this century, they needed smarter and furious project managers to achieve the inevitable projects.
Project Management Terminology
The terminologies used under a project are following-
Project management office- The department responsible for managing and coordinating and consulting projects related to work.
Project team- Experts responsible for the execution of work. Example a team of human resource engineer web design construction workers etc.
Project stakeholder- All individuals and organizations who participate in a project can influence or are influenced by the project’s work result.
Program management- The coordinated management of multiple projects which have similarities similar goals, similar resources, etc.
Portfolio management- The coordinated management of multiple programs and projects.
Project management skills are about maintaining a pleasant surrounding and creating activities in which a specific target can be attained.
For project management, you need to understand the difference between the realistic constraint and theoretical constraint.
Having good skill sets like good attitude work ethics smart organization and good communication can help achieve the inevitable projects.
It is so ubiquitous now that it has evolved from a specialized field to life skills. Project management is the application of method knowledge, expertise, experience to achieve the objective.
A project manager is responsible for the planning, organizing, and directing the competition of a specific project.
It is a very good option if you just to be one because many companies require a skilled person to manage their projects and handle their teams as a leader. If you have good leadership qualities, You can go for it.