Define project management

Project management is the application of knowledge, skills, tools and techniques to project activities in order to meet project requirements (PMBOK). It involves planning, organising, directing and controlling resources to achieve specific goals within the constraints of scope, time, cost and quality.

Key elements

• Knowledge, skills, tools and techniques: technical and management ability.
• Project requirements: the needs and expectations of stakeholders.
• Constraints: scope, time, cost, quality, resources and risk.
• Processes: initiating, planning, executing, monitoring and controlling, closing.

Main activities

1. Identify requirements and set clear objectives.
2. Establish a plan: WBS, schedule, budget.
3. Organise the team and assign responsibilities.
4. Communicate with stakeholders.
5. Manage risks, quality and procurement.
6. Monitor progress and control changes.
7. Close and hand over the product.

Requirements -> Plan -> Execute -> Monitor
      ^                                |
      +------ Close <- Deliver <-------+

Ten knowledge areas

Integration, scope, time, cost, quality, human resource, communications, risk, procurement, stakeholder management.

Importance

• Gives a clear direction and accountability.
• Controls cost and schedule.
• Improves quality and customer satisfaction.
• Reduces risk and uncertainty.

Example

In developing a library management system, the project manager defines modules (scope), schedules 4 months (time), sets Rs 10 lakh (cost), assigns developers, monitors weekly progress and finally hands over the system with training.

Project management differs from operations management because it handles unique, temporary efforts.