Overview of Project management
Are you a professional looking forward to achieving project management certifications to become project managers? Are you searching for the scope of project management skills? Are you thrilled to know what the meaning of the project is? And what does it signify to ‘initiate’ or ‘execute’? We have come up with a comprehensive guide on project management to offer you precise answers to all your questions.
What is project management?
Before we initiate to understand Project management, let’s first know the term ‘Project’
According to PMI, a leading professional organization for Project management, the project as a temporary endeavor undertaken to create a unique product, service, or result. There are many scale and complexity of projects. The project can be if building a new city or developing a new website.
Project management is the art of initiating, planning, executing, managing, and implementing projects. A project manager is responsible for planning and managing the project. Big projects may have various project managers.
There are two main elements of every project, namely, stakeholders and resources. Stakeholders are organizations or individuals. They are involved in benefits from the projects. Clients, senior leaders of the business, and people who are the owners of the project are stakeholders.
Resources are human or tangible materials. You need them to complete the project. An artist who creates the design is a resource. The 3D printer that brings life is also an example of a resource.
In another way, project management is the method of managing resources effectively to deliver the project to the stakeholders as per their expectations. If you can understand this core statement, then you will surely understand project management.
What are the various types of project management?
There are a total of 7 primary types of project management. Each has different approaches and different journeys. But the methodology accomplishes the same thing, and it is to complete a project.
Waterfall Project management: Waterfall management is one of the oldest methods of project management. Several project management teams use it. This style believes in working in waves. Each step of the process is heavily dependent on the one before it.
The issue with this management method is that it is prolonged. It is useful for those who have a lot of structure and predictability. If the manager detects the bug in the later step in the process and then he must cross-check the previous step. It can result in numerous hang-ups.
1. Agile project management:
Agile is a comparatively faster, and versatile project management method than waterfall management. Agile isn’t a well-defined project management methodology. However, a mindset or ethos that is applied to other versions of project management. Agile project management associates working in smaller chunks, or sprints. Sprints that allow projects to pivot when required.
2. Scrum project management:
Scrum symbolizes agile very perfectly. It is small and fast. Also, it can turn on a dime. Scrum involves working with sprints to accomplish the project in small pieces. It is often based on the one-month timetable. Scrum is best for those teams who are looking to repeat the project instantly.
3. Kanban project management:
Kanban is another variant of agile project management. It does not focus on time-based pieces, like scrum management. Kanban is all about organization. It mainly looks at several tasks that go into any process. It also looks at how they can be streamlined, reduced, and so on. If your output does not vary a lot, then this is a great model for you.
4. Lean project management:
Lean project management is the same as Kanban management. The difference is it has a higher emphasis on trimming the fact. This management process always focuses on a customer’s mindset. It also focuses on how means can be stripped away to deliver the best results. The delivery should be the most affordable and timely experience of customers.
5. Six sigma project management:
The six sigma project management method focuses very much on improving the quality of the project’s final output. This method is beneficial if you have done lean management, and the final results are not satisfactory. Six sigma emphasis on creating better output result for the costumers. It helps to track other management methods. It is a great way to refine the project.
6. PRINCE2 project management
The private and government sector enterprises use the PRINCE2 project management method. It focuses on efficiency and minimizing the risks and errors. This method is detail-focused. It is all about chunking projects up into product-based steps. The steps can be tackled one at a time. This method ensures that no stone is unturned anywhere in the process.
How do you define a project?
Project is a temporary endeavor done to build a unique product, service, or result. There are two types of scheme:
Temporary project: A temporary project contains a fixed beginning and end. Time and budget are the two factors that come into the role because of this project.
Unique project: Two projects cannot be the same. Some projects might be inspired by the previous one, but we can’t say them similarly. For example, suppose you have to produce 100 devices in 10 days for a customer, and the same customer asks to deliver more 100 instruments, but now in 8 days, then next order will be considered as different projects. One project differs from another in terms of deadline.
What are the five stages of project management?
Project management is very complicated, as well as a multi-step process. You need to gather data and insight from stakeholders. There are some other works in the process, such as develop a plan, delegate work, manage resources, and deliver results.
We can divide the project management process into five different stages.
Stage 1 – Initiation
The first phase covers the overview of the project. You need to map-out your project management approach as well as pick a project manager. Then, select a team and start the planning phase. You need to create a project charter at this stage.
Stage 2 – Planning
In the planning stage, the project manager develops a roadmap for the team. The manager set goals and define the scope. Create a WBS (Work breakdown schedule). Also, the project manager identifies milestones and develop communication and risk management plans.
Stage 3 – Execution
Execution is an essential phase of project management. This phase includes necessary aspects, such as developing a team and assigning tasks. The project manager holds meetings and set-up tracking system. Much of the real work of the project occurs in this process.
Stage 4 – Monitoring
This phase needs to go hand in hand with the execution phase. The execution phase involves monitoring group performance and controlling its result quality. In this phase, you need to track deliverable products, cost of the project, and individual’s performance.
Stage 5 – Closure
It is the fifth and last stage of the project management. In this phase, the project manager offers deliverable products to stakeholders and does the closure of the project with formality. The manager reviews the performance of the team and recognizes their effort. The manager should analyze the flaws of the project and take notes to improve future performance.
What are the three types of project risk?
There are three significant types of risk, i.e., internal, external, and project management risk.
Internal risks
- Regulatory Risk
- Weather Risk
- Suppliers Risk
- Market Place Risk
- Customer Risk
- External Stakeholder Groups Risk
- Political Risk
- Environmental Risk
External Risks
- Work culture Risk
- Processes & Systems within the organization Risk
- Resources Risk
- Prioritization Risk
- Project Dependencies Risk
- Funding Risk
- Technology Risk
- New technology Risk
- Requirements Risk
- Interfaces between systems Risk
- Performance and reliability Risk
- Quality Risk
Project management Risk
- Planning Risk
- Executing Risk
- Estimating Risk
- Communication Risk
What do you do as a project manager?
As we have mentioned above, the project manager must manage the project. But, here, we will discuss what does the project manager do on-ground.
Project management means combining strategy and operations. The project manager monitors the progress of the project, manages resources, and deliver results.
The project manager does the combined work of CEO, COO, CFO, and CHRO.
Roles and responsibilities of the project manager
There are multiple roles of a project manager. They fulfill their responsibilities while managing the project. Some of the roles and responsibilities of the project manager are mentioned below.
- They have to define the scope of a project
- Proper planning and sequencing activities
- Accurate planning and managing resources
- Progressing schedules
- Estimating time and costs
- Developing and managing accounts
- Monitoring and managing risk
- Team framing and team leadership
A good project manager has excellent leadership qualities and has excellent communication skills. Also, he has the natural ability to break down and assign work efficiently. He can see the big picture with a focus on small detailing that creates a successful project.
Why use project management
If you are new at project management or have not experienced the market yet, then you might wonder what the excitement about it is. It is essential to understand that every firm or organization uses project management, even if they don’t have a clue about it.
If you are using a spreadsheet to keep an eye on your work, you are using the ‘Project management’ process effectively.
If you have a list of your employees and their responsibility in your notebook, then you are also doing project management.
Most organizations use a combination of formal and informal project management techniques. Some are very passionate about legal project management methodology, while some use project management when there is a requirement.
When a firm or organization practices project management, then it increases the ability to bring higher efficiency and scalability to projects. The process helps teams to deal with the complex requirement in dynamic settings.
According to a survey of McKinsey, 60% of the employees agree on ‘building a strong project management discipline’ is a top-three priority of their companies.
Project management software
Several industries across the globe use project management software. It helps enterprises in project planning, allocation of resources, and scheduling. Project management software assists project managers and team members control their budget, management of quality, and all the exchanged reports throughout the project. They also help project stakeholders for fascinating collaborations.
Here are the top 5 project management software that will help you enhance your project management system.
1. Basecamp:
Basecamp is a prevalent project management software. Many project management teams widely use this software. Basecamp provides various collaboration features. The project managers can use features such as designated discussion areas where users can leave behind comments.
Also, updates and statuses of your team are sent out daily to the manager’s email. Users can also contribute to discussions via email. They can use a powerful tool for this software if they are unable to find a particular item as well. They can use this search tool to locate files and conversations.
You can avail of the software for your businesses at $99 per month. It is free for teachers and students.
2. Teamwork Projects
Most of the Project managers prefer to use Teamwork projects software. It is a great project management software. It has all the tools that help to track the development of the project. The app has very flexible features, and it also includes various automatic features. It has several features, such as task management, milestones, messaging, file storage, time tracking tools, and many more. It also helps the team to visualize the project using the marked calendar, Gantt chart, and set-up reporting.
It is available at $69 per month for small firms. For big businesses, it is available at $269 per month.
3. ProofHub:
ProofHub is an online project management application. It puts a high emphasis on simplicity. It is majorly beneficial for small and growing businesses. Using it, you can assign the projects to the groups and clients. You can discuss the project, share, and edit too. It also offers an opportunity to create custom roles. There are some features of proofHub, as mentioned below:
- Custom Roles
- Task management
- Workflows and Boards
- Gantt Charts
- Reports
- Time tracking
- Discussions
- Chat
- Calendar
- File management
- Notes
- in-app notifications
The price of ProofHub ranges from $45 per month to $99 per month.
1. Zoho Projects:
Zoho Projects is an excellent project management software. It has a clean and straightforward interface. This software includes features such as project planning, Gantt charts, reporting tools, collaboration software, and document management. You can also integrate the software with tools such as google apps and dropbox.
2. Nifty:
Nifty is the new-wave in the market of project management. It reduces the efforts in project developments. It also helps in improving productivity by combining all the vital features. The resulting output of the software is immense. It inspires the team and ensures organizational goals are achieved on time. It has features such as Kanban, list view, and integrated google calendar. It also offers file sharing feature. Nifty has done integration with GitHub that has made Nifty unique from other project management software.
The price of nifty ranges from $39 to $124 per month, depending on the team volume.
Project management certificates
Certifications are the best way to sharpen your project management skills. Some of the best project management certificates include:-
1. CompTIA Project+
2. Certified Project Manager (CPM)
3. Associate in Project Management (APM)
4. Certified Associate in Project Management (CAPM)
5. Project Management Professional (PMP)
6. Master Project Manager (MPM)
7. Professional in Project Management (PPM)
8. Program Management Professional (PgMP)
9. Agile Certified Practitioner (PMI-ACP)
10. Certified ScrumMaster (CSM)
Agile project management
What is Agile Project Management
Agile project management is an iterative method for planning and managing project processes.
Agile project methodology divides projects into small parts. Those little parts are completed in work sessions that operate from the design process to testing and quality assurance. These sessions are known as sprints. Sprints are term for iteration used in one unique and famous agile development method known as scrum. Sprints are short and running over days or weeks. They are generally two to four weeks long.
Working of Agile Project Management
The agile project management team creates rapid feedback and continuous adaption. Also, it builds QA best practices into their iterations.
They run practices such as continuous deployment and continuous integration. It uses technology that automates steps to speed up the release and use of products.
Agile project management calls for teams to evaluate time and cost continuously. Agile project management uses speed, burn down, and burnup charts to measure their work. They do not use Gantt charts and project milestones to track growth.
Agile does not need the participation of any project manager, although it is essential to have a project manager in traditional project delivery methodologies.
Project management institutes
1. MIT Sloan School of Management
2. UC Berkeley
3. Stevens Institute of Technology, Hoboken, NJ
4. University of California, Los Angeles
5. Boston University
6. Southern New Hampshire University
7. Baylor University
8. University of Pennsylvania
9. George Washington University
10. Purdue College of Technology
Project management tools
1. Scoro:
It is a complete solution for project managers.
The features of the Scoro are planning with sub-tasks and deadlines, Real-time KPI dashboard, Distributed team calendar & conference scheduling, and contact management.
2. ProofHub:
ProofHub offers a replacement for conventional emailing.
Critical functions of ProofHub have distributed user roles, Online team conferences, and chats, and Task assigning and responsibilities.
3. Basecamp:
The interface of Basecamp is like modern social media.
The features of Basecamp are Projects to manage various users’ activity, Message boards for presenting new projects or plans, and in-app collaboration with the team for reporting on project execution.
4. Asana:
Asana is a combination of project management, file manager, and collaborations.
Features of Asana includes division of work into tasks, and distributing it to team members, arranging tasks into projects for roadmaps and timelines, analysis milestones, and checking on your team’s growth.
5. Podio:
Podio is a flexible online hub for the work.
The key features of Podio are assigned duties, add files and address details within the solution, distribute encrypted & extensive data, automate the sales pipelines, project budget tracking, and more.
6. Workzone:
Workzone contains lots of powerful tools. It is easier to run than most of the sophisticated tools.
Main features of Workzone include personalized and individual to-do lists, create subtasks and task dependencies, set permits for individual users to access projects, assign tasks and files, instantly see situations with Gantt charts, and appoint persons to more than one task
7. JIRA:
JIRA has advanced project management capabilities and features.
The top functions of JIRA are design user stories and issues, map sprints, share tasks across your software team, prioritize and review team’s work, organize team communication and see real-time reporting of team’s work
8. NOTION:
It is a highly exciting tool for project management. It helps to plan and discuss projects. You can share everything with the team and can also keep track of all ideas.
The significant features of NOTION include have an individual weekly checklist, take notes, create a task board with adjustable drag and drop editor, share files, and nest pages inside each other.
9. Trello:
Trello is the best tool for managing short and quick assignments. It is famous for effectively visualizing project tasks on cardboard.
The main features of Trello are task management on cardboard, generating endless task lists, picture and file sharing, organizing lists by dates or priority, and commenting and collaboration
10. Active Collab
Active Collab helps teammates to stay organized.
The top features of active Collab include time tracking and invoicing, Gantt-like timeline, Kanban cards, Planning tasks with various users and deadlines, and a shared company calendar for collaboration.
Conclusion
Project management is a vast field. There are various ways of project management. You need to decide which is suitable for you. In this comprehensive guide, we have covered almost every topic regarding project management. We hope you liked it and gained complete details of project management.
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