Tuesday, March 22, 2011

Project Management

Project Management is the use of knowledge, skills, tools, and techniques, to plan and implement activities to meet or exceed stakeholder needs and expectations from a project.
Project Management includes developing a project plan which includes defining and confirming the project goals and objectives, identifying tasks and how goals will be achieved, quantifying the resources needed, and determining budgets and timelines for completion.
Project Management Lifecycle
The Project Management lifecycle has four phases:
1. Project Initiation
2. Project Planning
3. Project Execution and
4. Project Closure
Project Initiation - The project initiation phase is the first phase in the project management lifecycle. In this phase a business problem (or opportunity) is identified and a business case which provides various solution options is defined. The project initiation phase is the crucial phase in the project lifecycle, as it's the phase in which you define your scope and appoint your team. Only with a clearly defined scope and a suitably skilled team, you can ensure success.
Project Planning - The project planning phase is the second phase in the project lifecycle. In this phase the project manager defines the requirements for completing the project. That means the project manager identifies the number of resources and how much expense is involved in the project, as well as any other requirements that are necessary for completing the project. The project manager identifies the project constraints. Constraints typically relate to schedule, resources, budget and scope.
Project Execution - This phase involves the execution of each activity and task listed in the project plan.The execution phase is where you and your project team actually do the project work to produce the deliverables. This phase involves implementing the plans created during the project planning phase.
Project Closure - The Project Closure Phase is the fourth and last phase in the project life cycle. Project Closure involves handing over the deliverables to your customer. The project closure phase consists of the processes that are performed to officially finish and close all the assignments in a project or phase.  The project deliverables are reviewed by the customer according to the agreed acceptance criteria, and formally accepted.

If you want to know more about project management lifecycle, then please go through this reference: http://www.maxwideman.com/papers/life_cycle/life_cycle.pdf

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