Week 4

As stated in PMBOK (2008) Project management is "the application of knowledge, skills, tools, & techniques to project activities in order to meet project requirements". At the same time if we think why project management is different from other managements, it is quite clear that,

• PM focuses on a finite project, while other managements are on going
• PM uses part-time resources

According to Haughey (2011) All projects are carried out under constraints, which is also called as Triple constraint of project project management.

• Scope goals - Projects must be delivered within cost.
• Time goals - Projects must be delivered on time.
• Cost goals - Projects must meet agreed scope, no more - no less.

Triple constraint of project management

Project management has 6 segments which are

• Planning
• Directing
• Controlling
• Minimum cost
• Acceptable System
• Specified time frame

PMBOK (2008) elaborates on 9 knowledge areas typical of almost all projects. The five basic process groups are:

• Initiating process - (SWOT, PEST, Stakeholders, Analysis)  In the initial phase of project management, obtaining the necessary permissions and approvals to begin is the main goal.
• Planing Process -  Project manager defines goals, develop objectives, schedule deadlines in this phase . Also this is where  in which the project manager puts together a staff and begins to assign tasks and roles.
• Controlling process - (Check on requirements gathering is correct, feasibility study)  project manager should begin making sure everything is going according to plan
• Execution process - This is where the team start to create the end product.
• Closing Process -  Project management group marks the end of the project. Project manger delivers the final product to the client.

There are 9 knowledge areas as listed in PMBOK (2008) in project management. Project management knowledge areas include all the aspects of the project management that are required for the successful completion of a project on time with the best output.

1. Project Integration Management
2. Project Scope Management
3. Project Time Management
4. Project Cost Management
5. Project Quality Management
6. Project Human Resource Management
7. Project Communications Management
8. Project Risk Management
9. Project Procurement Management

Program management is breaking your project into multiple projects.