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Project management can seem like a huge concept, with lots of moving parts and options to choose from. To get started, you should have some idea of what project management entails and how it works in general. This guide on project management will provide you with everything you need to know about the basics, the types of project management, the approaches to project management, and the process groups. No matter what kind of project manager you are looking to become or already are, this will help your next steps be an informed step in the right direction.
A project is a temporary endeavour undertaken to create a unique product or service. There are three types of projects that can be found in business today:
•Product development projects
•Construction projects
•Process improvement projects
Of these types of projects, management of a process improvement project is most applicable for entry-level project managers.
There are five stages or process groups that make up a project—and each has its own unique role. Knowing them well will help you define what you’re working on and how to manage it well. The process groups for projects are-:
•Initiating
•Planning
•Executing
•Monitoring & Controlling
•Closing
Learn about each one below!
The initiation stage is where projects get their start. In other words, once someone agrees to work on something new (or agrees to fund something new), they must then determine whether or not a project should be started at all. If so, an idea is developed into a full-fledged plan with a clear goal in mind. A project charter is created during initiation, which outlines specific information about the overall goal of your project as well as any risks involved in getting there. After creating a project charter, you'll need to develop an action plan, which includes things like milestones and deliverables.
Work breakdown structure (WBS) is a deliverable-oriented hierarchical decomposition of project tasks. It defines every task needed to complete a project. The WBS is prepared in advance or simultaneously with other project management work products. While preparing a WBS, one must carefully consider all activities that will be required to finish his/her project successfully and any risks involved. Later on it can be used as an input for another important PM tool called Resource Breakdown Structure (RBS).
The planning stage involves taking all of your ideas from initiation and turning them into actionable items. You'll want to identify exactly what needs to happen throughout your project in order to achieve success by making use of tools like Gantt charts, PERT diagrams, and network diagrams. These tools can help illustrate how different pieces of your business fit together both now and in the future. When developing these plans, it's important that you consider every possible outcome—both good and bad—so that no surprises pop up down the road when you're already deep into execution.
A Gantt chart is a project schedule that breaks tasks down into time-based bars. It was named after its inventor, Henry Gantt (1861–1919), who first described it in his book Work, Wages and Profits (p. 197), published in 1918.
In a Gantt chart, horizontal bars represent time across the top of their columns while vertical bars represent work items below their respective time bars.
Once you've got your plans laid out, it's time to move onto execution. This is where you actually start doing everything that was outlined in your action plan. During execution, you'll have plenty of opportunities to adjust course if necessary—but since some changes require more resources than others, it's important to know when those times are coming so that nothing falls through the cracks.
Finally, monitoring and controlling comes into play once you've begun executing your project. This process group involves regularly checking in on progress towards goals and ensuring that everyone stays motivated along the way. It also allows room for small changes here and there as needed based on feedback or unexpected circumstances—but only if those changes don't detract from major goals or timelines!
The final process group is closing, which takes place after you've completed your project. At this point, you'll go back over everything that happened to ensure that it was done properly before moving on to your next big thing. Your first step in closing out a project is identifying lessons learned and documenting them for future reference. Then, you'll want to capture all of your original documents related to the project so that they're safe and easily accessible if anyone ever needs them again. Lastly, make sure to formally present what you learned from your experience completing the project so that everyone knows how best to apply those lessons going forward! Now let's talk about common approaches used in managing projects... Different people may approach managing projects differently depending on who they are and what kind of results they hope to see.
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