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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