| Project Management is the application of Knowledge, Skills, Tools and Techniques to Project Activities to Meet Project Objectives.
– By PMI )Project Management Institute). |
The statement above is the definition of a Project Management by Project Management Institute. Let us have a look at some of the terms:
- Knowledge – What you should do when a project comes and what are the different processes.
- Skills – How do you manage your projects, do you have team managing skills? Or do you have daily reporting skills?
- Tools – What mechanism are you using to meet your project objectives? For example, Project Service Automation is that tool that you will use to manage your projects.
- Techniques – The approach that basically helps you to implement things in your project.
- Project Objective – This is the core thing that you need to meet.
Project Management Triangle
A s a Project manager, when you want to implement a project, you will need to consider the concept of project triangle:
- If you are implementing a project you should ask yourself a question “Do I know the scope of the project?” and “Can I meet the agreed and defined scope?”.
- The project must be delivered within the cost. Now, this is the cost that your company is incurring to execute the project to maintain the profitability.
- The project must be delivered on the agreed schedule.
- You must maintain the quality while you meet the agreed scope and deliver within the cost and agreed schedule.
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