What is Project Management?
More specifically, what is a project? It’s a temporary endeavor undertaken to create a unique product, service or result.
A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources.
And a project is unique in that it is not a routine operation, but a specific set of operations designed to accomplish a singular goal. So a project team often includes people who don’t usually work together – sometimes from different organizations and across multiple geographies.
The development of software for an improved business process, the construction of a building or bridge, the relief effort after a natural disaster, the expansion of sales into a new geographic market — all are projects.
And all must be expertly managed to deliver the on-time, on-budget results, learning and integration that organizations need.
Project management, then, is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.
PMI’s A Guide to the Project Management Body of Knowledge (PMBOK® Guide)identifies its recurring elements:
Project management processes fall into five groups:
- Initiating
- Planning
- Executing
- Monitoring and Controlling
- Closing
Project management knowledge draws on ten areas:
- Integration
- Scope
- Time
- Cost
- Quality
- Procurement
- Human resources
- Communications
- Risk management
- Stakeholder management
PMI’s Project Management Framework