Projects are the backbone of the global economy and Project Management (PM) runs this economic cycle in an efficient manner.
Project management is the art and science of getting things done in a given timeline and budget.
An art because there is no one definitive answer for how to best manage a project, and a science because there are well-developed techniques and processes that can help significantly to complete a project successfully.
PM is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements (PMI).
It’s how the first high-speed rail system was constructed in Japan in 1964 and is widely known as the bullet train.
It’s how the world’s largest offshore wind farm was constructed in the factory in London and installed in the middle of the ocean. It’s how your favorite smartphone was designed in California and was assembled with more than 100 parts from over a dozen different countries.
However, it’s not just about creating stuff around. Service industries like information and technology, software, and health care have some of the most sophisticated project management practices and processes.
PM requires both theory and practice. It needs mastery of theoretical concepts but also the skills to temper them with practical considerations. It is a hybrid area that combines different disciplines, methods, and ideas.
PPT of Project Management
For efficient integration of these knowledge areas, the project team needs to monitor and control the various flows. You can think of project management as managing three flows. The flow of the people, the flow of the process, and the flow of the tool.
Any organization that wants to manage its project successfully, needs to have the right people, the right process, and the right tools. All three together at the same time.
No Matter what methodology you follow for your project, effective project management has always these three critical components: People, Process, and Tool.
People
People are the primary resource on every project, and a well-managed team can greatly increase the chances of success. The typical project management group includes the project manager, project team members, sponsors, stakeholders, business analysts, and information technology developers.
The most important component of any project is its human resources. To complete a successful project, well-skilled and qualified team members with clear-cut roles/responsibilities are a must. With a good team, the project manager can efficiently lead the project and save time, cost, and effort.
Process
Project managers and team members should have a methodology and plan that outlines their approach to complete the scope of work. Without a clearly defined objective & procedures, team members will not know what to do and when to carry out project activities.
At every project phase, a clearly defined process is the key to the success. It controls how the team will go about completing its scope of work to meet the desired result. Using the right process will increase the project execution success rate.
Tool
Project management today is completely different from what it was a decade ago. With the introduction of different cloud-based project management tools, project teams are no longer bound by geographical location or tedious departmental regulations. PM tools centralize all data and allow users to track progress, assign tasks, and give feedback easily
Project management tools & software helps project managers, teams, and individual contributors to complete tasks, organize client requirements and manage time, budget, and scope constraints very efficiently. It plays a crucial role in project monitoring & controlling.
PM tools are expanding their functions and crossing boundaries with their combination of features for efficient project management.
These business applications and tools provide benefits especially if chosen correctly to match an organization’s requirements. Any organization that wants to stay ahead of the competition needs to have the right tools.
Knowing about the project, people & process is not sufficient for successful project management. Always remember the project management is vast knowledge are. It is a massive endeavor made up of skills, and knowledge areas which complex enough to offer lifetime research.
Conclusion
Project management is the integration of knowledge areas and controlling various flows. You can think of PM as managing three flows. The flow of the people, the flow of the process, and the flow of the tool. To complete the project successfully, the project needs to have the right people, the right process, and the right tools. All three together at the same time.
Are you able to manage or influence the PPT (Process, People, and Tool) of your project? Let me know by leaving a comment below right now.
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