Introduction to Project Management

introduction to project management by no escape what is a project a project is a temporary endeavor which has a definite beginning and end that is carefully planned by dividing into several phases to give out a unique output power projects different from operations projects are temporary they create unique products and are closed after attaining the objectives whereas operations are ongoing processes they are repetitive and the objective is to sustain business meet Jen Jen is an automobile designer who comes up with a brand new design of a car her team collaboratively comes up with a plan and creates a prototype of the car creation of the prototype of car was a short-term temporary process the prototype developed was unique and the project ended after the prototype was developed let us consider that Jen now has an idea of mass producing these cars then she sets up a factory with an assembly line and she succeeds in manufacturing cars every day mass production of cars is an ongoing process the assembly line repetitively produces cars the objectives of this process is to sustain business of selling cars what are the phases of the project management projects are divided into phases such as initiating planning executing monitoring and control process closing collection of these phases are called as a project life cycle the phases sounds simple enough so why manage a project here are the statistics only one out of four projects that enter development make it to the market 31 percent of the IT projects are cancelled before completion large organizations net only 42 percent of the original features and functions in the end product why do projects fail failure and projects can be due to various reasons let's see some of them failure in time management John has the dream of constructing a beautiful home for himself he starts it at a young age but does not plan it correctly even after him reaching his old age due to improper time management his dream house could not be completed failure in cost management Jamie wants to buy a beautiful dress for an upcoming party she plans to go to a nearby mall to make the purchase since she does not properly plan the costs involved during shopping she ends up buying a lot of stuff with all the money left with her failure and scope management Jack wants to buy a shiny new convertible car so that his wife and him can go on long drives but in less than a year they have a child and now the convertible car does not seem to be the correct choice for the family failure in quality management Jon spends a lot of money in buying a big home since he did not check the quality of the home before he bought it it collapses completely in a few months after his purchase who will rescue us from all these problems who is the one who manages everything in a project the one person to save us from all of these problems is the project manager what are the skills of the project manager let's see what are the powers our superhero the project manager have leadership communication information technology accounting purchasing problem solving let's review some important points in project management let's take the earlier example of a creation of new design of a car it is a temporary process it started with the idea of the car and ended after the mock-up was made this project gave a unique prototype of the car during the development the project was divided into many phases like ideation planning etc