Importance Of Project Management

Over the past few years, project managers and Project management has shown tremendous growth. Project management has evolved over the past several years from an activity in an organization to a discipline in its own right. Many professional bodies exist today to represent project management as a discipline, Some of which include, PMI, Prince2 Foundation, PM Bok.

Project management (PM) system processes are essential for successful performance within an organization. ?Successful performance leads to customer delight, although insured, is totally possible through proper application and quantifiable control of project management processes?, (Akkiraju, n.d., p. 2). Project management involves components that PM mangers follow when preparing to enter into a venture. The PM use planning, hazard management, execution management, change

Project Management is the art of arranging, sorting out, spurring, and controlling resources to attain specific objectives. A project is a brief endeavor intended to deliver a unique product, service, attempted to meet extraordinary objectives and goals, commonly to achieve helpful change or included quality.

A PMO is a unified organization dedicated to improving the application and outcome of project management. They involve huge infrastructure, with rigid rationalized planning, control and procedure. A PMO is an organizational existence created to ease project managers in achieving project design. It is a group of people with a focus to support project managers in the successful implementation, and realization of projects. This provides an opportunity for project managers to broaden professionally if they were working solitarily from one another.

A project Management Office (team of project managers) should ensure that the requirements are managed and project plans are executed according to schedule. The PMO should also be responsible for resource planning and also ensure all relevant information is being transmitted across teams, external organizations such as schools, commercial lenders and other federal agencies which hold data.

The future of project management will require a shift from a low indecision, low vagueness approach to a high attentiveness, high decisiveness approach where change is the standard and decisions have to be made quickly and decisively. Projects are becoming global with scattered multi-cultural teams being the standard. Earning a PMI certification demonstrates an understanding of complex project management concepts, an ability to lead and manage multi-functional teams and enters you in a global community of professionals and experts.

What is project management? Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. (PMBOK 2004)

The role of the project management office (PMO) has increased nowadays, as many organizations are implementing it. According to PMI (PMI 2011), organizations with a PMO report more projects coming in on time, on budget and meeting intended goals to those without a PMO.

Over the past few years, project managers and project management has grown tremendous growth. Project management has evolved over the past several years from an activity in an organization to a discipline in its own right. Many professional bodies exist today to represent project management as a discipline, some of which include, PMI and PM Bok.

Structure: Each organization creates its own PMO. A project management office, abbreviated to PMO, is a group or department within a business, agency or enterprise that defines and maintains standards for project management within the organization. The PMO strives to standardize and introduce economies of repetition in the execution of projects. Also steering committee is created to represent interests of different stakeholders.

The abbreviation PMBOK denotes to the Project Management Body of Knowledge. The PMBOK is a developing frame of information for the arena of project management. PMBOK is positioned on the Project Manager and the PMP Exam is an effort to measure the knowledge of a Project Manager. Which differs from a methodology. Nevertheless, the significance of PMBOK to the occupation of Project Management cannot be simple, as the knowledge enclosed within it can be leveraged by any formal methodology. Therefore, it should be seen as complimentary to any project management method. Waterfall, and Agile are project management methodologies, each with dissimilar themes, philosophies, and procedures. A project management approach is a

Project management is seen as the application of skills, knowledge, tools and tecniques to projects activities that has to do with the demands of the project. (PMBOK, 2008). Futhermore, project management was defined by Kchithkara (1998) being the

Project management is the planning, organizing and implementing of an event, where specific start and end dates are to be followed, determining the goals needed to be achieved, identifying resources required, budget, location, and other various factors (Rouse, 2016).

PMBOK helps all members of the organization or the project management team to perform their function effectively. Under normal circumstances, one department of a company may response for a specific process in one way while other department implements different steps. PMBOK provides a framework to every department so that every unit can efficiently focus on their part of project.

Project managers are key elements of a successful product for a business. According to Kerzner (2006) implementing project management would allow companies to identify functional responsibilities to make certain all task are accounted for, reduce reporting, identify scheduling, methodology for trade-off analysis, measure achievements against plans, and early detection of problems, improves future planning, and recognize potential failure and success. Project management intention is to enhance the use of current resources by task flowing horizontally as well as vertically inside a business. Project managers must administer project within the work flow of the company.