What is Project Management?
More specifically, what is a project? It’s a temporary group activity designed to
produce a unique product, service or result.
A project is temporary in that it has a defined beginning and end
in time, and therefore defined scope and resources.
And a project is unique in that it is not a routine operation,
but a specific set of operations designed to accomplish a singular goal. So a project
team often includes people who don’t usually work together – sometimes from different
organizations and across multiple geographies.
The development of software for an improved business process, the construction of
a building or bridge, the relief effort after a natural disaster, the expansion
of sales into a new geographic market — all are projects.
And all must be expertly managed to deliver the on-time, on-budget results, learning
and integration that organizations need.
Project management, then, is the application of knowledge, skills
and techniques to execute projects effectively and efficiently. It’s a strategic
competency for organizations, enabling them to tie project results to business goals
— and thus, better compete in their markets.
It has always been practiced informally, but began to emerge as a distinct profession
in the mid-20th century. PMI’s
A Guide to the Project Management Body of Knowledge (PMBOK® Guide)
identifies its recurring elements:
Project management processes fall into five groups:
- Initiating
- Planning
- Executing
- Monitoring and Controlling
- Closing
Project management knowledge draws on nine areas:
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Integration
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Scope
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Time
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Cost
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Quality
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Procurement
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Human resources
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Communications
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Risk management
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All management is concerned with these, of course. But project management brings
a unique focus shaped by the goals, resources and schedule of each
project.
The value of that focus is proved by the rapid, worldwide growth of project
management: