Have you ever wondered what project management is? Do you know how it can save business owners time and save your company money? To understand project management, let’s first find out what a project is!
A project is a sequence of unique, complex, and connected activities having one goal or purpose that must be completed by a specific time, within budget, and according to specifications.
Project management is a set of principles and tools for;
–Defining: Defines the final deliverable and outcome, states in clear terms what is to be accomplished, creates a reference point for questions about scope and purpose of the project
–Planning: People, facilities, equipment, money, materials, time
–Executing: Begin work!
–Monitoring/Controlling: Monitoring timelines, resources, budget and being alert to risks throughout each phase of the project
–Completing a PROJECT: Closing out all resources, and reviewing objectives to measure effectiveness/ROI of the project
Why is project management important?
•It gives you the tools to organize the approach to your project and resources
•Enables you to create a realistic & credible schedule
•Provides tools to track progress and therefore control your project
•Identifies where to focus your efforts
•Identifies problems early – before they create a crisis situation
•Saves you TIME….MONEY!
Remember….if you fail to plan, you’re planning to fail!
