Project management is a widely used process which involves planning, organizing and managing the activities of the business in a way so that it becomes easier to achieve goals and objectives of specific projects. This process is essential for every business organization. Before beginning any project it is important to plan everything and executing all the activities according to that plan. The project management is the most effective way to do this. It is concerned with making alignment between the stages of project management phases by using various strategies and objectives. The Project management approach is used for multi purposes of the project.
The students who are studying management must grasp good knowledge of project management process because, at some point in their career, it is expected from them to work with this process. It is true that handling this process is bit challenging, many hindrances could occur while carrying out the project activities. This process defines all these problems and gives the most effective solutions to deal with them. The main purpose of project management is to generate the desired outcome from the project. It is a very lengthy topic of management course. So if you need project management assignment help, then BookMyEssay is the right option for you.
The Phases of the Project Management Process
- Initiation: The first step of project management involves understanding the concept and idea of the project. This step involves analyzing your project. You must evaluate whether the project is feasible for your business and what is its value to the organization. There are two ways to evaluate this: business case document and feasibility study. It also includes calculating the estimated time, resources and cost that you need for the successful implementation of the project. After evaluation, if you think that this project is unfeasible and unprofitable, then it is better to drop it.
- Planning: Once you have concluded that the project that you are starting is beneficial for your business then you can start the planning. It is important to create a solid project plan that guides the team to work in the same direction to achieve organizational goals. This plan includes the goals and objectives of the project. It also contains work procedure, schedule, strategies for managing risk and the budget of the project. You must ensure that your plan is measurable, specific, attainable and realistic.
- Execution: This is the stage where you can start the execution of your plan to complete the project. It includes allocating the resources for the project and assigning duties to the employees according to their capabilities. The execution is completely based on planning.
- Controlling and Monitoring: This is the part where the manager ensures that all the employees are performing their duties. The manager is responsible for controlling and monitoring all the activities.
- Closure: You must evaluate everything before giving closure to the project. If goals and objective are successfully achieved from the project then you can hand it over to your client.