Project Management: A project is a temporary venture performed in order to create or develop a product or a service. There are human resources, tools, technologies, processes and various methodologies involved in managing the operation planned for completing the project. Managing the project related processes such as integration, scope, time, cost, quality, HR, communications, risk and procurement is known as project management.
Project Stakeholders: Project management involves various project stakeholders. The internal stakeholders such as managers, project teams, business owners, founders, and functional teams work on key project management activities. There are also external stakeholders such as vendors, government entities, customers, clients and media to help in completing the project objectives. The project team is expected to be aware of what exactly going on in their company. A defined project team flowchart is designed to showcase the roles and responsibilities of the team.
Project Management Phases: The project management phase starts with the initiating and planning processes, continues with execution and control processes and ends with the project closure.
Virtual Projects: Due to globalization, virtual teams are on the raise in the business world today. There are cultural differences, organization cultures and styles involved in managing virtual projects. Virtual project management is now considered a special skill required for project managers.
Project Management in Organizations: According to the Project Management Body of Knowledge (PMBOK), organizations are categorized into three different types such as functional, matrix and projectized. The role of various stakeholders differs in all these three types of organizations. The project manager has little authority and works part time in functional and weak matrix organizations. However, balanced and strong matrix organizations use their full time employees as project managers. The projectized organization provides a high level of authority to its project managers who are also full time employees. Organizations use different types of key performance indicators to manage projects.
Technology Used in Project Management: Technology based tools, applications and methodologies are highly used in planning and execution phases and in the overall management of projects. For example, Microsoft Project is one of the tools used commonly in organizations to manage projects. Many organizations use Oracle or SAP applications based on management information systems (MIS) to handle various phases of project management. These tools help to track the processes in each project phase.
Skills Utilized in Project Management: Apart from general management knowledge, the specialized skills are imperative for those involved in project management.
A few sample skills are given below:
- Sales and Marketing
- Research, Learning and Development
- Human Resource Management, Organizational Behavior and Development
- Accounting, Cost and Finance
- Risk, Quality Control and Assurance
- Strategic Planning, Implementation and Execution
- Soft skills such as team building, negotiation, client interaction, communication, delegation, motivation and empowerment.
Certifications: PMP (Project Management Professional), PRINCE2, 070-632 Microsoft Project 2007, 070-633 Microsoft Project Server 2007.