So what is project management?
Project management is the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet the requirements of the particular project. A project is a temporary endeavour undertaken to achieve a particular aim.
The Latin word projectum means, “to throw something forward.” Project Management is all about making things happen and moving forward and has existed for thousands of years. For example, the Great Pyramid of Giza 2,550 B.C, the Great Wall of China 221 B.C. – 206 B.C or the Roman Coliseum 80 A.D. all used project management techniques.
Project Management is as much a way of thinking as it is an approach that can be applied to any initiative large or small that must deliver within a certain timeframe and cost, in order to meet specific objectives.
Recognised as an essential capability for organisations to maximise value and reduce costs, Project Management has developed considerably in the past 20 years. Today Project Management is a professional discipline with a body of knowledge, a set of skills and competencies and professional certification bodies (listed at the end of this article).
The Basic Principles
There are a number of significant principles which determine success in any project. These are simple and well known principles, however they are difficult to apply and are quite frequently ignored in practice.
1. Precise Business Needs
Successful projects are business driven. This represents the ‘why’ of the project, and it is important because it provides the basis for all decision making.
2. Defined Benefits
Projects are about translating the business need into the business benefit. In addition to the business need, the ‘bottom line’ benefits must also be well defined in terms of source, timing and quantity.
3. Explicit Plans
Effective planning, allows people to work together in a co-ordinated way in order to achieve the project objectives. Effective planning is dependent on being at an appropriate level of detail and being presented in an appropriate way.