Project Management: Real World
Real life project management processes, just like processes, are comprised of various sequential steps like initiation, planning, implementation, monitoring and closure. Keep in mind that any project is finite in nature, which means it has specific initiation and finishing deadlines.
The key factor, therefore, is to successfully complete the project without any time or cost overruns. Managing projects is indeed a challenge that calls for conceiving a definite strategy and creating a workable methodology apart from problem-solving, communication, and team-building skills. These parameters divide a project into different phases.
Whether planning a family wedding, anticipating the delivery of a new child, or going on a holiday, real life project management is involved to ensure the outcome follows the plan. Wikipedia aptly defines the project management process as “the discipline of planning, organizing and managing resources to bring about the successful completion of specific project goals and objectives. Project management process relies on two activities: planning first, and then doing.”1
Study these four PM process examples, which can acquaint you with the phases of project management and why it is necessary to execute a project in a particular manner.