What is Project Management?

Project management is a set of activities for initiating, planning, executing,

controlling, and closing projects1. It's a discipline that provides principles,
techniques, and tools to help finish tasks on time and within budget2. The
success of a project relies heavily on a productive team that is fully dedicated
to the work3. The processes involved in project management are
interconnected, with the outcome of one process often becoming the input for
another4444. The document emphasizes that project management is both a
science and an art, requiring a good methodology along with intuition and
flexibility to handle the unique challenges of each project5.

The 5 Project Management Processes

According to the "Project Management Body of Knowledge" (PMBOK Guide),
there are five core processes in project management, which often overlap
rather than following a strict chronological order6666:
• Initiating: This is the most critical stage, where the project or a new phase is
recognized and defined7777. The goal is to focus the team on the business
needs or to halt the project if it's not viable8.
• Planning: This ongoing process involves creating a workable scheme with
defined activities, cost estimates, schedules, and resource allocation9999999.
It addresses questions like "What should we focus on?" and "How will we know
if we've succeeded?"10. This phase also includes creating various plans for
resources, quality, risk, and communication11.
• Executing: This is the phase where the deliverables are physically constructed
and presented to the customer for acceptance12. It's typically the longest
phase and requires the project manager to control activities, resources, and
costs while the team performs the work13.
• Monitoring and Controlling: This process runs throughout the project to
ensure quality, identify changes, and make necessary adjustments to keep the
project on track14141414. It involves collecting data from timesheets and
completed tasks and comparing it against the original plan15.
• Closing: In the final phase, the team evaluates and documents the project16.
This is an opportunity to assess performance, list achievements and failures,
and share lessons learned for future projects17.

Project Manager Roles and Skills

The document traces the origin of the project manager role back to Microsoft in
the late 1970s, where an individual was given authority to lead and coordinate
various departments to develop what would later become Excel18. A good
project manager is an entrepreneurial thinker who can see the big picture
beyond the basic tasks19. They are responsible for the project's overall success
or failure20. Key roles and responsibilities include:
• Planning and Resource Allocation: They must accurately estimate time and
define the project scope and resources21.
• Team Organization and Motivation: They develop plans that support the
team and stimulate them to reach their full potential, rather than focusing on
bureaucratic spreadsheets22.

Project Management Methodologies and Frameworks

The document provides an overview of various methodologies, noting that
choosing the right one can be difficult but is essentially about defining "the way
you work"23.
• Traditional Project Management: This method, also known as the
"waterfall" model, is structured and static, well-suited for projects with specific
goals and a well-defined path, such as in engineering and construction242424.
• Critical Path Method (CPM): Helps establish dependencies between
activities to determine the "critical path" which represents the longest
sequence of tasks and sets the project duration25. It can be affected by
resource limitations, which can change the critical path26.
• Agile: This is a framework of principles that favors responding to change over
rigid planning27. It's an iterative approach that breaks projects into smaller
parts28. While a popular buzzword, the document notes that it can be
expensive and doesn't always provide the predictability that clients want
regarding budgets and timelines29292929.
• Kanban: A Japanese term for "billboard"30. This method is a visual way to
manage workflow by controlling the number of tasks in progress31. It allows for
reprioritizing project plans at any time32.
• Scrum: A methodology used to implement Agile principles33. Scrum teams are
self-organizing and cross-functional, meaning members can perform any task,
though they may have specializations34. It works best with small teams (up to
9 people)35.
• Extreme Programming (XP): This is a software development methodology
that focuses on improving software quality and responsiveness to changing
customer requirements36. Its core practices include test-driven
development37.
• PRINCE2: Standing for PRojects IN Controlled Environments, PRINCE2 is a
process-based method that focuses on the quality of deliverables and is
suitable for large organizations38.

The Value of Project Management

Project management became an essential part of business when technology's
impact made relying on intuition and paper documentation
inefficient39393939. It offers numerous benefits, including40404040:
• Increased predictability and efficiency.
• Cost and time savings.
• Quicker issue resolution.
• The ability to terminate "bad" projects.
• Improved team communication and collaboration.
• Better client collaboration and satisfaction.
The document also notes that while technology has made project management
more efficient, it's not a complete solution, and many businesses still fail to get
the best results by relying on simple spreadsheets instead of dedicated project
management software41414141.