The Role of Project Management in Today

Topics: Project management, Management, Plan Pages: 3 (815 words) Published: May 17, 2014
The Role of Project Management in Today’s Business
Environment
Project management is a critical part of businesses and industries in order to advance ahead and add value to products. Project management allows companies to invent, plan intentionally, and for the economy to progress. The key parts of projects are often values such as team working, planning, invention, time and budget management, and leadership. In the modern culture, some projects can be medicines (inventing new drugs), IT solutions (new technologies), energy and environment (other sources of energy such as solar), and military (new weapons and machineries). The relationships are such that these projects are undertaken to advance the lives of people. However, the main objective of projects is to find out about something by using resources and ideas and put together to achieve the end product. Project management is about being organized from the commencement of the job to the finish. It is about having an effective and efficient team with a leader that can encourage teamwork and motivate to get results Project Processes. First to take on project, the team must be selected. All member should be good at their specific tasks and responsibilities while able to work together with other members as well. Then choose on a goal and determining on the best way to accomplish it. In a project, there is a four stage development which is: identify issues, provide solutions, implement a plan, and monitor its progress. By taking this stage by stage, it ensures management and establishing which will further improve the process of the ongoing project.

Key Features of Projects:


A project has a unique solution.



A project has limitations, so its degree is defined.



A project is a one-time energy, usually demanding limited resources.



There are separate start and end dates for projects.



You know once you have reached the end of the project (you have completed the solution)...
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