Project Management Essentials

Project Management is the application of processes, methods, skills, knowledge, and experience to achieve specific project objectives according to the project acceptance criteria within agreed parameters. It has final deliverables that are constrained to a finite timescale and budget.

Project Management: Key Features

• Scope Management: Defining and controlling what is included and excluded in the project.
• Time Management: Planning the timeline and ensuring project milestones are met.
• Cost Management: Estimating, budgeting, and controlling costs to keep the project within the approved budget.
• Quality Management: Ensuring the project's deliverables meet the required standards and stakeholders' satisfaction.
• Resource Management: Efficient and effective deployment of the project's resources.
• Risk Management: Identifying, analyzing, and responding to project risks.
• Communication Management: Facilitating timely and appropriate generation, collection, dissemination, and storage of project information.
• Procurement Management: Procuring goods and services from external sources.
• Stakeholder Management: Managing stakeholders' expectations and engaging them in project decisions and execution.

For an in-depth understanding of Project Management, visit Wikipedia's page on Project Management.