Thursday, August 2, 2012

Project Management: Introduction

Project Management:

Project Management is a method of managing projects with the scientific application of tools and techniques that enable to meet or exceed the stakeholder needs within the defined time, cost and quality. Various unique activities that a project involves are planned, implemented, financed, monitored and controlled through the use of modern project management techniques.

In order to meet stakeholder’s needs form a project, the competing demands should be balanced as shown in the figure below:

The modern day tools and techniques involve work breakdown structures, action plans, Gantt charts, linear responsibility charts, network diagrams, CPM/PERT, milestone charts etc.

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