Importance Of Project Management

Role and Importance of project management

Project management is defined as the art of planning an operation to ultimately deliver an end product or service to the intended recipient and it plays a very huge role in the daily operations and general strategy of the modern organization. In every kind of organization, projects often have to be undertaken in order to achieve an end product that will ultimately bring in revenue and grow the business.

Ultimately the product or service delivered at the end has to satisfy the customers or client whom has contracted the company. At this current advanced age of technology where processes are operated heavily with the aid of machines and communication through the internet making transactions of money

There are a few elements to this stages that need to be addressed. The manager have to estimate the resources and budget required over the course of the whole project and the estimation has to be accurate to a certain extent as it would have a heavy bearing on the success or failure of the project. After which, the scheduling of the various activities for the project members has to be made by the project leader with a calculated mind as poor scheduling with minimal utilization of resources might set back the overall progress a few days while a good scheduling with maximum utilization of resources at a given time can speed up work by a few days. Furthermore the risks that are involved in the project has to be accessed at this stage by the manager and they have to weigh between the outcome and risk whether certain course of actions are worth taking. All these make up the planning phase of project management and this phase is extremely crucial as the planning phase layout the framework of how the whole project would be

Agile Project Management

In agile project management, the project is seen as a series of relatively small tasks conceived and executed to conclusion as the situation demands in an adaptive manner, rather than as a completely pre-planned process. Hence, the project is slowly built up upon iterations and iterations until the product is deemed suitable to be released to the client. Figure 2 Agile Project Management

Source: http://upload.wikimedia.org/wikipedia/commons/5/50/Agile_Project_Management_by_Planbox.png

This is a much more flexible approach that takes one small step at a time and also cuts back a lot of unnecessary resource and time spent on the project as it reviews itself daily to ensure that the product will only be delivered once it is in its desirable state. Not much planning is required too as this method demands the project team to be adaptive to the situation as it