What is Project Management? Elements and Objectives

Project management is the application of knowledge, processes, skills, tools, and techniques to achieve specific project objectives and meet success criteria at a specified time. 

Project Management

What is Project Management?

Project management is defined as a specialty related to the process of organizing and managing the resources available in projects, such as: human resources or material resources, in a way through which the project can be successfully completed in light of the quality, time, and cost factors available.

Project management expresses the process by which all a company's resources are planned and organized to accomplish a specific task from A to Z; i.e, from inception to completion.

The company's resources include material resources, people, technological technologies, individual ownership, and funds.

The project can be a temporary one-time project, or a continuous project, as this task usually falls on the project manager who takes care of a number of tasks and goals to be accomplished and achieved within a specific budget and within a limited period of time.

Elements of project management

Timing: Time is one of the most important elements of project management. Completing the required projects on time increases customer confidence, in addition to saving a lot of costly expenses for the company.

Costs: Costs are intended to control costs and finances in order to increase profit production.

Human resources: One of the most important elements of project management is to follow up the work of employees to evaluate the performance and the production process on a regular and continuous basis.

Tasks: Follow up on the tasks related to the completion of the project in a timely manner and at the appropriate cost. All project steps must be followed up from the initial small matters to reaching the final point, and the work may be simple or complex.

The Phases of Project Management

A project is defined as a group of activities that employ a variety of resources; Such as: material or human resources, energy resources, telecommunications, and risks with the aim of achieving certain goals, and any project goes through several stages upon its implementation; including:

Initiation phase: during which the ideas and the general vision of the project are defined.

Planning phase: during which the course of the project, its implementation method, and the necessary resources needed by all project stages are planned.

Implementation phase: during which the project activities are implemented according to the project plan.

Performance/monitoring phase: during which the project activities are monitored, and then the project is fully evaluated.

Project closure phase: during which the project accounts and activities are completely closed, and the desired objectives of the project are achieved.

Project Management Objectives

The objectives of the projects are not considered the same in all projects, as they are varied and multiple for each project according to its budget and nature. However, the objectives of public projects management are:

  • Increasing productivity.
  • Reducing costs.
  • Reducing your expenses.
  • Finishing the project at the agreed specified time.
  • Completing the project according to the approved budget.
  • Executing all requirements such as: Quality Assurance.
  • Satisfying all project parties from the client to the project team.
Read Also: 10 Top Enterprise Project Management Software

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