Defining Project Management
When the word project management comes to mind, examples could range from small to large-scale
projects with complex plans. However, in its simplest form, project management applies to a temporary
project that has definitive beginning and end dates. (From a budgetary standpoint, a project that is not-
ongoing is considered temporary.) Therefore, project management is everywhere you look, from
personal to professional situations.
Given that projects are temporary, project management is not something that is routine or part of a
normal operating schedule for a process. Projects are unique in nature and will require dedicated
resources for a limited amount of time to accomplish the project goal.
To summarize, project management is the synthesis of expertise, knowledge, skills, techniques and other
tools to create a plan to manage and meet the requirements of a project.
The Structure of Project Management
For almost every business process, there is some type of structure, and project management is
no different. Listed below are the stages in the project management process.
Project Management Process
There are five stages of project management:
1. Initiating - in this phase, the project team is assembled and briefed on what the
project is.
2. Planning - in this phase, all of the timelines and deliverables, are mapped out.
3. Executing - in this phase, the project is started and tasks are beginning to be worked
on.
4. Monitoring and Controlling - in this phase of project management, processes and tasks
are being monitored for accuracy and quality.
5. Closing - in this phase, the project has been completed and closed out.
Project Management Interdependent Functional Attributes
Along with the project management stages, there are also process areas that a project team will rely
on during the project life cycle. Listed below are the interdependent functional attributes that project
management uses.
Integration – this involves incorporating team members from other functional areas into the
project to accomplish the project goal.
Scope – this is the main focus of a project that contains the specifics about the duration,
deliverables, timelines, and costs of a project.
Time – this can be duration of a project or the duration of tasks in a project.
Cost – this is the projected or budgeted cost amount for a project.
Quality – this means ensuring that the project is producing desirable results that can be compared
to certain standards set forth in the project scope.
Procurement – this department may be used to purchase supplies or work with vendors to ensure
that items needed for a project are available when needed.
Human resources – this department ensures that personnel are assigned to the project and are
paid properly and that any employee-related issues are handled during the project.
Communications – this is an integral piece of the project because instructions and updates must be
delivered to the project team.
Risk management – this attribute ensures that there is limited exposure to the processes or
stakeholders involved in a project.
Stakeholder management – this is a critical component of project management because everyone
who has a vested interest in a project needs to be updated on the status of the project.
Parameters need to be set on when they should and should not receive status updates.
As you can see from the list above, the breadth and depth of areas that project management
encompasses signify the importance of having a structure to manage projects in an organization.
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