Project Management

Most organizations will at some time be involved in developing new products or services, starting a new production line, putting in place a promotional campaign or even going in for a major building and expansion program. This requires them to allocate staff and resources on a one-time basis to implement whatever is needed.

Management techniques are then put in place for project implementation to ensure that the project is completed on time, within the budget and that the required quality is obtained. When project management is seen in detail, it has to have definite objectives like reducing overhead costs, ensuring that project teams work as per their own operational styles which help the project and setting up a proper information system to inform all management and other stakeholders of the progress of the project.

Oliver Terry from Insightus says it is essential that all project team members share all information and documents so that any decisions or changes are based on real-time information where everyone is on the same page. It has to be the task of every member of the project management team to see that all task deadlines are met. Projects will have a greater chance of being successful if they are planned and scheduled in detail. It is important that every human resource that is deputed for the project is effective and efficient. There is a need to set up a proper communication system so that all the members of the project team are in sync with each other.

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Project management requires that the progress of the project be periodically monitored and reported to senior management. Any need to make changes, review contracts or a need for intervention must be anticipated. Risks need to be anticipated and action is taken to avoid them. Quality needs to be constantly checked and a quality assurance team is a vital part of any project management team. There must be a proper procedure for an accounting of all resources, human, financial or materials.

This method of working is quite common in construction and software development projects, but in theory, the principles and application of project management can be extended to any sphere of business or other activities. To start with any project must have definitely laid down goals and every one of them must be measurable. They must be specific, measurable, achievable, realistic and time-bound. Project teams must be assembled and it is necessary to see that everyone included in the team has a specific and definite role to play.

Proper planning and monitoring are important for successful project management and it is necessary that the planning is given sufficient time so that all resources can be identified, risks taken into consideration and financial and administrative requirements firmed up. Planning is the key to success and must be preferred and all efforts to start the work without this action must be resisted.

Once a project is completed all actions taken for successful completion must be documented for future reference.These can be of great help when other projects are taken up in future.