Project management is an important concept and topic because now a days all organizations either big or small are involved in the implementation of various projects. Lewis has opined that although management of projects has been going on for thousands of years, the practice has been widely recognized as a discipline in its own rights for only about ten years.
Before going to explain project management, it is essential to known, what is a project? A project is generally described as an initiative to bring about change. This is done in order to achieve specific objectives, within a timescale and in a given context. A project has normally an allocated budget. According to Project Management Institute “A project is any undertaking with a defined objective by which completion is identified. In practice most projects depend on finite or limited resources by which the objectives are to be accomplished.” Viv Martin listed out following attributes of a project:
1) has a clear purpose that can be achieved in a limited time;
2) has a clear end when the outcome has been achieved;
3) is resourced to achieve specific outcomes;
4) has someone acting as sponsor who expects the outcomes to be delivered on time; and
5) is a one-off activity that would not normally be repeated.
Project Management has been evolved one of the important areas in the area of urban development. According to Richard Newton (2008), project management has been developed over the past few decades as it has become apparent that without a structured approach, people are not very good at completing projects successfully. The principal aim of project management is to see that projects are well formulated, effectively implemented; completed in time and end result is achieved. The project management is largely encircled in four important factors i.e cost, time, scope and quality. According to PMBOK “project management is application of knowledge, skills, tools and techniques to project activities to achieve project requirements. Project management is accomplished through the application and integration of the project management processes of initiating, planning, executing, monitoring, controlling and closing.”
Subscribe on YouTube - NotesWorld
For PDF copy of Solved Assignment
Any University Assignment Solution
.webp)
