Project management is a specific discipline of management associated with the planning, organizing, securing, managing, leading, and controlling the resources of a project to achieve the desired goals or objectives of the project. A project can be defined as an temporary phenomenon of an organisation which has a defined set of objectives and goals at the beginning and ends with the achievement of those goals and objectives within a limited time frame.

All the process involved in planning the project, defining the project goals and objectives, identifying tasks, making strategy to achieve the goals and objectives, identifying and quantifying the resources needed for the completion of the project, determining the budget for the project and setting timelines of the project are together referred to as project management.

In addition to that, an effective project management also includes the management of implementation of project plan, controlling the operations of project accurately, monitoring performances and taking recovery actions if needed in between the project.ADS_TO_REPLACE_1

An effective project management consists of mainly five phases:

• Project initiation: This is the first phase of project management in which the project is started and all the information and requirements for the successful completion of the project is gathered.
• Project planning: It is the most important phase of project management that includes the formulation of effective plan for the entire project from the beginning to the end of the project to achieve the desired goals and objectives of the project.
• Project execution: Once the project plan is made with a set of pre-defined goals and objectives, the project plan is then executed accordingly as per the goals and objectives in order to achieve them successfully.
• Project control and validation: As a project is completed in various phases it is very important to carry out every process in a control way to get the desired results. Project control can be defined in terms of project plan, quality assurance test plan, and communication plan for the project. Similarly, validation is done in order to maintain the quality of the project plan.
• Project closeout and evaluation: Once, the pre-defined goals and objectives are achieved as per the client specifications, the project is declared completed and closed. Evaluation is done for the performance analysis of project team and individuals to find any loopholes to fulfil them in the future projects.

You can find other Project Management related topics in below:

• What is a Project Management
• Extreme Project Management
• Process of Project Management
• The Project Management Methodologies
• Tools of Project Management
• Just-In-Time Manufacturing (JIT)

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