Project Management

Project management is the discipline of planning, organizing, executing, and controlling projects to achieve specific goals and objectives. Projects are temporary endeavors that have a defined scope, schedule, budget, and deliverables. Project management involves applying knowledge, skills, tools, and techniques to meet the project requirements and satisfy the stakeholders.

Project management is a dynamic and complex field that requires adherence to certain standards and best practices. Standards are documents that provide rules, guidelines, or characteristics for project management activities or their results. Standards help ensure consistency, quality, and efficiency in project management processes and outcomes. Some of the most widely recognized standards in project management are:

• PMI/PMBOK: The standard of the American Project Management Institute (PMI), which publishes the Project Management Body of Knowledge (PMBOK) Guide, a collection of processes, tools, and techniques for project management.
• IPMA: A methodology of the International Project Management Association (IPMA), which defines the competencies and qualifications of project managers based on four levels of certification.
• PRINCE2: A standard used primarily in Great Britain and the Netherlands, which provides a structured framework for project management based on seven principles, themes, and processes.
• ISO 21500: A series of standards developed by the International Organization for Standardization (ISO), which provide guidance on project, program, and portfolio management.

Project management can also be scaled up to the level of enterprise project management (EPM), which is the practice of managing multiple projects on a company-wide scale. EPM involves developing standard processes, coordinating complex projects, and linking the organization’s goals and objectives with ongoing projects. EPM aims to streamline processes, integrate change management, and ensure consistency and standardization across departments. EPM is overseen by an enterprise project management office (EPMO), which provides mentorship, governance, portfolio management, and resource management for all projects in the organization.

Project management is a vital skill for any organization that wants to achieve its vision and mission. By following standards and best practices, project managers can deliver successful projects that add value to the organization and satisfy the stakeholders. By adopting EPM, organizations can align their projects with their strategic goals and optimize their performance and efficiency.

• Project PrioritizationAugust 30, 2010
  A project portfolio is important for the company to see where its projects are heading. Many times projects are overlapped and the… Read more: Project Prioritization