- Explain project management
It is an application of knowledge,skills,tools and techniques to project activities in order to meet stakeholder needs and expectations from a project.
- Identify the key stages of project management
1)Initiate
In this first phase, you'll develop a project overview, map out your project management approach, and pick a project manager. The latter, in turn, will select a team and start the planning process. You'll create a project charter at this stage.
2)Plan
In the second phase, you (the project manager) will develop a roadmap for the project team. You'll set goals, define the scope, create a work breakdown schedule (WBS), identify milestones, and develop communication and risk management plans.
3)Execute
This phase involves developing a team and assigning tasks, holding meetings, and setting up tracking systems. Much of the actual work of the project happens in this phase.
4)Control
This phase happens alongside the Execution phase and involves monitoring the team performance and managing its output quality. You'll track deliverables, project costs, and the performance of individual team members and the project as a whole.
5)Close
In the fifth phase, deliverables are handed over to stakeholders and the project is brought to a formal close. You'll review your team's performance and recognize their effort. You'll also analyze the project for flaws and take notes to improve future performance.
- Identify the advantages and the importance of implementing project management
Advantages:
- Implement a standard approach to managing projects
- Manage the project pipeline more efficiently
- Optimize resource allocation
- Centralize project reporting
- Improve task management and visibility
- Effective team collaboration
Importance:
1)Strategic Alignment
It ensures what is being delivered, is right, and will deliver real value against the business opportunity.
2)Leadership
It brings leadership and direction to projects.
3)Clear focus and objectives
It ensures there’s a proper plan for executing on strategic goals.
4)Realistic project planning
It ensures proper expectations are set around what can be delivered, by when, and for how much.
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