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Project management refers to the process of initializing, executing, controlling and closing the work in a team with the intention to fulfill specific goals and meet criterias that have time constraints. The biggest problem in project management is to accomplish the goals of a project despite all the limitations imposed on it. A project is an endeavour that is temporary in nature. It can exist to produce either a service, result or product. The beginning and end of a project are usually defined. The outcome of the project should include values and improvements while dealing with time and funding limitations. Hence, collaboration and communication among stakeholders, clients and the project team is vital in completing a project without compromising on quality.
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Project management functions as the meeting point for all processes. It is also the point where different types of procedures are created, scheduled and organized. After these procedures are put into action, they are assigned to the team and periodically evaluated. Understanding the objectives of project management is vital to the growth of an organization. These include:
There are multiple types of project management styles with each having its own distinctive set of principles, rules, practices and processes. The choice of choosing one style over the other essentially boils down to the type of project. Since every project has different requirements, the methods of implying one project management style over the other will also change. An overview of the different project management styles have been outlined below:
These development phases include:
The second method is used to create new process. This is referred to as DMAIV and stands for:
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