Project management is the art and science of planning, guiding and organizing the components of a project. Irrespective of the type of the project, that is it can be the launch of a new project, the release of a service, planning of a wedding or anything related to marketing and advertisement. This basically applies to a project that is specific, timely and something not occurring usually. Project management applies to the management of resources available to achieve desired goals. A project is supposed to have a beginning and an end; it is not supposed to continue.
• Five stages in the project management are: initiation, planning, implementing, managing and ending. Initially the project manager defines the project, that is what are the goals and targets that need to be achieved, the outcome of the different actions that the manager plans to take, and also takes into account the resources that are available to the planner. These can be anything, manpower, capital, assets, loans, credit etc. project management is a responsible job and the manager must be a competent and efficient person who has an expertise in the job.
• Next comes the planning of the project. This is the most important part where the manager defines the actions and tasks that need to be taken and done to achieve the defined goals. This also includes the calculation of the requirements of the resources, the money and people especially and the allocation to different people involved in the project. Time management is yet another important task as the completion of the project in a particular time frame is an important part of its success. The manager makes a relationship between these three, resources, time and actions need be taken.
• Then comes the real time for action. The manager of the project has already allocated tasks to respective people. Now he makes sure that they implement it. It is time to execute the well made plan. Utilizing the resources of capital in the economical and decided way, the employees etc start doing their jobs. They try to do it in the time allocated to each task of the deadline that is regularly given by the manager. This process includes assurance of the quality of the tasks completed and providing assistance.
• This whole process requires strict monitoring as it is the only thing that will keep the workers honest and punctual. The main aim behind control and monitoring is that any new problem arising must be noted at time and actions taken to correct it before further damage occurs. Management of the resources whether they are sufficient, the processes that were defined to meet goal, checking their adequacy, identification of the risk factors that are expected to hinder the progress.
In short, manager aims to nip it in the bud to ensure the success of the project. Finally, the whole team and the manager sit together and analyze the result of the plan and actions taken. And declare the project as complete and successful and if needed take further actions.