What is a Project ?
A project is a time set of activities that has a definite beginning and an ending point in time.
Projects vary in size and scope. A project is limited by time, budget, resources, and
performance specifications designed to meet customer needs.
CHARACTERISTICS OF A PROJECT:-
Has an established objective.
Has a defined life span with a beginning and an end.
Requires across-the-organizational participation.
Involves doing something never been done befor e.
Has a specific time, cost, and performance requirement
PROJECT MANAGEMENT is Planning, Executing, and Control of complex and
diverse activities of projects. It is the task of getting a project‘s activities done on time, within
budget, and according to specifications.
More and more organizations are using project management because the approach fits well
with the need for flexibility and rapid r esponse to perceived market opportunities. When
organizations undertake projects they are : unique, have specific deadlines, contain complex
inter-related tasks requiring specialized skills, and are temporary in nature, these projects often
do not fit into the standardized planning procedures that guide an organization‘s other routine
activities. Instead managers use project management techniques to effectively and efficiently
accomplish the project‘s goals.
ELEMENTS OF PROJECT MANAGEMENT
Individuals from different departments within company
Team structure with members from different f unctional areas depending on skills
Leader of project team
The members of the project team report to the project manager. The project manager Manages
temporary, non-repetitive activities and frequently acts independently of the formal