What is Project Management?

Do you want to learn more about project management and the steps involved to be a great project manager? Continue reading to find out the definition of the process and why project management is essential in 21st-century workplaces.

What Is Project Management?

Taken literally, a project manager oversees various tasks, big and small, to deliver a result to a specific standard. It’s vital to apply processes and principles to help deal with glitches that rear their head along the way. For example, you will have to initiate, plan, execute and manage any changes that occur as a result of new policies.

How Does It Differ To General Management?

It’s easy to see project management steps and general management steps as the same; however, there are differences. The main one is that usual business activity is an on-going process that never stops. The company has core values, and they try to use strategic goals to push the business forward so that it grows and expands.

Our Project Manager training London teaches that to hit your targets, a leader must regularly create new packages. Whether you, the manager, have to work with new people or complete a completely different project, you must follow this process.

Three People working on Project Management Task

Why Is The Completion Of Tasks Essential?

As we already know, the long-term effect is that it helps the company grow and expand into new sectors. But, they are the big, complex tasks – what about the small, simple ones? Are they as important? The answer is yes.

These tasks, no matter how tiny or seemingly insignificant, maintain the company’s trajectory. A manager that can’t fulfil their end of the deal will impact everything from punctuality to budget and the business’ reputation. Think of the Butterfly Effect – one small modification results in a new future.

If the small tasks aren’t taken care of efficiently, then the big ones will have their time restrictions and budgets impacted. As a whole, the reputation of the organisation will take a hit.

The Main Components Of Project Management

The following four factors need factoring into every project, and one can’t be favoured over another. If any are, the foundation of the task will crumble and fall.

  • Time: the duration of the project/how long it will last
  • Cost: the amount of money allocated to the project’s budget
  • Scope: what the project hopes to change or strengthen. This can be in terms of added value regardless of significant alterations
  • Quality: the standard of work when the project is completed

So, if you increase the amount of time to complete a task, the cost will rise too.

How Does Project Manager Training Prepare You?

The idea that leaders are born and not created isn’t accurate. Yes, you might not feel as if you have the skills required right now, but you can learn them over time. The key is to follow the basic methodology of project management training. With the framework below, you’ll be able to tackle any job regardless of the size and break it down into bitesize chunks.

Initiate The Project

By writing down what you hope to achieve, there is a reference point that you can consult during the process. Often, project management goes off the rails because the person in charge loses sight of what their aim to achieve. Merely defining the overall goals and speaking with the relevant stakeholders to confirm should be your first port of call.

Craft A Plan

Once you know the targets are on point, then you can begin to plan. An excellent approach is to write down the tasks within a project and assign them a list that states how you’re going to tackle individual problems.

Execute

This is self-explanatory. It’s time to bring the initial steps together and execute your plan. Building a team and assigning deadlines are two ways to ensure there are structure and liability.

Monitor

Although employees work best independently, you must ensure the project is on track, time and standards-wise. Monitoring includes asking for regular updates on everything from the progress of the project to the budget restraints. Focus on factors that impact and reflect the team’s true performance.

Close It Out

After you are happy with the quality of the project, and that you’ve hit all the parameters, you need to deliver it to the client.

Projects Example

Almost every project uses the framework above. Take the California water system. Initially, they initiated the project’s aim – to bring water to California during dry seasons. They planned to do this by using groundwater and surface water in the surrounding areas and executed the plan with the State Water Project. 

After monitoring and closing out the project, more than 66% of residents receive water from the SWP.