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Project Management Defined
May 6, 2008 | Author: PM Hut | Filed under: Project Lifecycle Phases, Risk Management
Project Management Defined
By Tom Carlos (PMP)
Project Management is a process that uses tools and techniques to direct the use of various resources in order to achieve a set of clearly defined objectives.
The success for any project is based on its management. This management is based on the five process groups and nine knowledge areas; as defined by the Project Management Institute Body of Knowledge (PMBOK®). The process groups include:
- Initiating – Beginning of a project; Defining the objectives; Develop a project scope, assumptions, and constraints.
- Planning – Develop the project plan and schedule, Defining objectives and identifying methods to achieve the desired results.
- Executing – Coordinating all resources in order to carry out the Project Plan.
- Controlling – Ensuring that project objectives are met by means of measuring and monitoring progress at regular intervals, and taking corrective action as needed.
- Closing – Ending a project phase and achieving “formalized acceptance.”
All projects are exposed to some degree of risk. Planning for possible project risks should be performed during the initial stages of a project. Risk Management is an integral part of Project Management. It involves the identification of both opportunities and threats. Threats can be managed by the following processes:
- Define the Risk Management Plan and processes
- Identifying each risk and assessing its possible impact
- Develop a risk response plan
- Implement the plan
Tom Carlos has over 20 years of cumulative experience in business, technical, and training environments. He is a Certified Project Management Professional (PMP) and member of the Sacramento Valley PMI Chapter. For other articles on similar subjects, you can visit www.carlosconsulting.com or contact him at tom@carlosconsulting.com.
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