Project Management - An Overview

When a business decides to undertake a temporary venture, it requires project management, wherein there is the supervision of the goals stated for the duration of the said venture, depending on the specific beginning and ending dates. This type of management allows a project manager and the people who work under him or her to focus on the tasks at hand in order to make sure that a particular project is finished on or before the given deadline, with all the stated goals accomplished successfully.

It has been around for several centuries, specifically used for engineering and architecture projects that would require a great deal of planning, construction, and labor. It was in the 1950s wherein a modern phase of this sort of management came in and went on to be known as a separate discipline under the management umbrella. There have been a number of associations that have been founded that clearly adhere to the various models that began to be developed during the early years. There have also been institutes that have been formed in different countries that provide certifications for practitioners.

For this certain kind of management, there is what is known as the project management triangle. This triangle is composed of three control factors: scope, which covers the things that must be done in order to get the desired result, time, which covers the amount of time specified in order to finish a particular project, and cost, which covers the budget given in order to purchase all necessary materials, labor, and anything else needed. If any of the control factors experiences a change, the other two control factors are also affected. All three control factors have an effect on how the project will turn out and this is known as the quality, which may also be considered a fourth control factor.

Project management can use a tree structure called the Work Breakdown Structure (WBS) that is able to clearly breakdown the division of everything that is required for a certain project that is being undertaken. The Work Breakdown Structure is put together by first knowing what the absolute goal is or what final result of the project is supposed to be. It is from that point that all aspects are divided into three main but manageable sections, size, duration, and responsibility, all of which are considered necessary in order to ensure the success of the project.

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