What Are The Five Basic Functions Of Project Management

The study of Project Management typically consists of learning the tasks and challenges fundamental to managing complex projects across multiple functions. This includes objective setting and project design; managing without influence to gain the support of stakeholders and access to resources not directly under their management control; planning, scheduling, budgeting and monitoring; and risk assessment and management.

As with Human Resources, Project Management is a functional area of business that is currently evolving to meet the changing demands of the modern business. Whereas in the past Project Management could be described as taking a task from start to finish, in the modern workplace there is much more emphasis on ensuring a task is completed as efficiently as possible with little or no downtime between projects.

Project management is short term; it has a beginning, an end, and has identified steps to take throughout the process. The steps of project management are as follows: proposal, initial investigation, detailed investigation, development and testing, trial, operation and closure, as well as, the evaluation. There are measurable benefits to using project management within an organization for certain key objectives or processes that need

Executive Summary Project management is the science of planning, organizing, executing, and managing the resources needed to achieve a specific goal. Effective project managers (PM) strategically facilitate the entire project management process to ensure the project’s success. To do this the PM must adequately meet the specific requirements (i.e., time, scope, quality, and cost) set forth by the project and its stakeholders. It is theorized that PM must possess a set of core competencies in order to successfully manage a project. Those competencies are development of project management knowledge areas, application of appropriate project management tools and techniques, understanding of the project

The process of Project Management is very detailed – there are multiple phases to properly manage the project (e.g., project plan, schedule, communication plan, risk management plan, and

Project management is the performance based process focus on one o more deliverable. It is the process of identifying a problem or need coming up with possible solution, deciding on the best one and completing the project in a manner that is acceptable to

Project Management is the art of arranging, sorting out, spurring, and controlling resources to attain specific objectives. A project is a brief endeavor intended to deliver a unique product, service, attempted to meet extraordinary objectives and goals, commonly to achieve helpful change or included quality.

Project management is defined by BusinessDictionary.com as, “Approach to management of work within the constraints of time, cost, and performance requirements.” Project management requires careful planning and studying all of the factors involved with in the project. Project Managers must first establish the needs of the stakeholders and provide a project plan which includes the cost and time frame the project will be completed. In addition, projects requirements should be clear and concise to ensure the Project Manager stays within

Project management is the discipline of planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives. It is often closely related to program management (Wikipedia).

Project management is managing the work to develop and innovate or even change within an existing operation. There are five steps in this management: Initiating the project, Planning and controlling all activities to keep the project on schedule, executing every phase of the projects process, monitoring/ controlling reviewing and regulating the progress and performance of all phases of the project, Closing process this is where all processes are finalized and completed to officially close the project out.

What is project management? Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. (PMBOK 2004)

After reviewing the project management student group request, a risk assessment was used to determine all of the projects risks and constraints. One of the main project constraints is the lack of budgeting; the project was allotted no budget to get the ball rolling and no budget to keep the program running. Without a solid number for a budget, the project manager will be

The completion of any project depends on the execution of various parameters mostly set at the beginning of the project. In order to complete the project to satisfactory levels, the project must be completed within the stipulated timelines, fall within the approximate budget and be of the required quality standards. However, most of the projects are affected by adverse changes and unforeseen events that occur during the execution period. Research shows that the magnitude of change is dependent on the size of the project, with large projects experiencing more uncertainties due to several factors including; planning and design complexity, interest groups having deferring opinions, resource availability, Economic and political climate and statutory regulations, which may necessitate change of plan. Most of the uncertainties are known to occur in the concept phase and if not intervened, they may affect the entire project. The burden falls on the management of such risk as some managers choose to ignore the uncertainties since they call for additional costs. Other inherent risks may go unnoticed and therefore remain unsolved,

Project management is the discipline of initiating, planning, executing, controlling, and closing the work done by a team to

According to Russell and Taylor (2014), the project management as the management of the work, including work break down structure, to develop and implement a new idea, innovation or a change in an existing process of the organization. Project management is accomplished by planning the project, controlling the project activities subject to the resource and budget constraints, identified and mitigates the risk to keep the project on schedule.