Project Management: Methodologies, Processes, and Knowledge Areas

This report provides an introductory overview of project management, encompassing its core processes, various methodologies, and essential knowledge areas. It begins by defining project management and its significance in achieving project objectives, followed by a detailed exploration of the project management processes, including initiation, planning, execution, controlling, and closing. The report then examines popular project management methodologies such as Agile, Waterfall, Scrum, and Lean, highlighting their characteristics and suitability for different project types. Additionally, it covers key knowledge areas like project integration, scope, and time management, emphasizing their role in project success. The document also underscores the importance of project management in managing projects, building interactions, providing resources, and improving workforce skills, while also outlining the consequences of poor project management practices, such as project delays, increased costs, and damaged client relations. This is a valuable resource for students looking to understand the fundamental concepts and practices of effective project management.

Project Management

Introduction
 Project management can be defined as an application of different methods, processes,
skills as well as knowledge and experiences in order to achieve specific objectives as per
the project acceptance criteria.
 It is the practice of some specific work to achieve decided target and goals.

Project Management Processes
It is one of the critical processes for any project which is due to the fact that project management refers to the core
process which helps in connecting different project activities as well as processes together. A project management
process includes:
 Initiation : It is the starting point of a project and in this step all activities which particularly relate to complete
a project take place. There are management needs to analyse the importance and need of the project.
 Project Planning : It this stage, plan is made for completing a project and if the team gets this step wrong it
may cost a huge amount of money and may have negative consequences next stages. So, it really important that
detailed attention should be paid in this process.
 Execution : Now the management needs to begin or execute the project in order to achieve project objectives
and it really important that each members of project team have to carry out their jobs responsibly.
 Controlling : In this, management needs to control their activities thoroughly whole project activities need to
be validated.
 Closing : This is the last stage of whole project activities once all the project requirements are achieved and it is
the time when implemented system and close out system is handed over..

Project Management Methodologies
There are some popular project management methodologies we mentioned below;
 Agile : Agile is the “software development-focused” project management methodology. It can easily
handled and manage complex projects. It is best suited for projects which are iterative and incremental.
 Waterfall : Waterfall methodology is one of the most traditional methodology for the project management.
It is the linear sequential design approach in which progress of project flows downwards in single direction
in the form of waterfall. It is simple and easy to manage due to its rigidity and in this methodology phases
are process as well as completed one at a time. This methodology works for small projects in which
requirements are well understood.
 Scrum : This method mainly useful for improve project productivity and it mainly comprises of 5 values
such as commitment, courage, openness, focus and respect. The main goal of this methodology is to deliver,
develop and sustain the complex projects by focusing on accountability, collaboration and iterative process.
 Lean : This method basically focusing on customer satisfaction by maximising the project value and
minimising of waste. This methodology mainly focuses on the quality and reduction of waste during the
completion of projects.

Knowledge Areas
This is generally a bundle of standard terms and guidelines for project management.
 Project Integration Management : This is includes such logical plans for the project
success. It takes various processes in to account which are being used in a project and
makes sure that exits a proper collaboration between theses processes.
 Project Scope Management : Scope management relates to project activities and
management plans. this technique enables the project managers to allocate right amount of
work necessary to complete the project successfully.
 Project Time Management : This is indicates the timing of task, schedule and deadline of
the project. The main purpose of this knowledge area is to build processes and outputs
within the project in order to assist the project manager and team to complete the project
on time.

Project management relates to project
success
Project management is the success key of any project. With the help of project management we are able
to manage our whole project in the perfect way. We added some importance of project management
below:-
 Managing Project : Project management easily manage all aspects of the project. This can find the
errors in project activities, and solve them easily. This is also saving our resources by its management
tools.
 Build Interaction : Personal connectivity and interaction also necessary for any project success. It
can help in build interaction values between team members.
 Providing Resources : Project management also providing necessary resources to the project work.
Finding better resources to run project activities is also a big challenge for any project manager, So it
can easily find the better resources for the project.
 Improve Skills : It is also helping in improve skills of workforce. Management also able to find
innovative ideas to run project smoothly.

Consequences of negative project
management practices
There are some major consequences of negative project management practices below;
 Delay in project goals.
 Project activities run in improper way.
 Increase disputes in workforce.
 Project become more costly.
 Increase resources need.
 Project become more complicated.
 Decrease project success percentage.
 Break relations with clients.
 Chances of goodwill damages.
 Chances of negative results.

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