There are 7 project management principles that every organization should incorporate into their processes. These basic principles of project management take into account constraints such as time, quality, budget and the scope of the project. They are absolutely essential for the success of any project.

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Project Management Blog
Academy for International Modern Studies (AIMS), UK

2. Academy for International Modern Studies (AIMS), UK. www.aims.education
Project Management is defined as:
The practice of initiating, planning,
executing, controlling, and closing the
work of a team to achieve specific goals
and meet specific success criteria at the
specified time.
• The biggest challenge in project
management is to make sure that all
goals and objectives of the project are
achieved while taking into
consideration the pre-defined
constraints.
Project Management Principles

3. Academy for International Modern Studies (AIMS), UK. www.aims.education
Basic principles of project management take into account constraints are:
time, quality, budget and scope of the project.
Principles of Project Management?

4. Academy for International Modern Studies (AIMS), UK. www.aims.education
7 Essentially Project Management
Principles
Focus on Products
Continued Business Justification
Define Roles and Responsibilities
Manage by Exception
Manage by Stages
Learn from Experience
Tailor to the Environment
Basic Principles of Project Management

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Client or the customer for whom the
project has been developed should have a
clear idea of what they require and how
they want the deliverables to be.
• They should be realistic about their
expectations.
• When the client is clear about what they
want or expect from the project, things
become a lot easier for the managers in
charge.
Principle # 1: Focus on Products

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There has to be a business
justification behind every
project.
All projects should provide
the company with a decent
return on investment which
makes it worth the effort,
time and investment that
goes into it.
Principle # 2: Continued Business Justification

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There are occasions when the
circumstances in the industry or
in the market change during the
life cycle of the project, which
affect the return on investment.
A decision has to be taken at
such a time, whether to continue
with the project or not.
Principle # 2: Continued Business Justification Cont…

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One of the most important
project management principles is,
that every person that works on the
project has to be a well defined role
in its development.
• They should know what their
responsibilities are, who they
should report to and are
accountable to.
Principle # 3: Define Roles and Responsibilities

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Everyone should know exactly
what they should be doing
otherwise there will be an
environment of chaos in the
company.
 They should know how to
react proactively in a critical
situation and not just to pass
blame or point fingers at each
other.
Principle # 3: Define Roles and Responsibilities Cont…

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Project Sponsor or Company Owner
should not be too concerned with tiny
details and they should not try to micro-
manage everything.
 They should let the managers take
charge and make the decisions within
a set of pre-decided constraints.
 Only when the problem or issue
becomes critical should it be
escalated to the sponsor.
Principle # 4: Manage by Exception

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The project should be broken down
into smaller sub-projects or stages.
 At the end of each stage, the
sponsor of the project makes a
critical decision on how to proceed
further.
 The idea is to commit to just one
stage at a time.
Principle # 5: Manage by Stages

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One of the most important principles
of project management that the
manager and those involved with the
project should not repeat the same
mistakes every time.
 They should analyze what went
wrong with the previous projects
they worked on and learn from the
lessons while planning the next
project.
 They must not repeat past errors.
Principle # 6: Learn from Experience

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Any project management
framework or methodology
should be based on the
specific requirements of
the project.
The project should be
customized accordingly.
Principle # 7: Tailor to the Environment

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The managers should never
follow a methodology without
considering the environment that
they are operating in and the type
and amount of work required.
For Example:
Project with a time frame of 1 year
should be based on a different
methodology compared to one
required to be done in 3 weeks.
Principle # 7: Tailor to the Environment Cont…

15. Academy for International Modern Studies (AIMS), UK. www.aims.education
 These project
management principles
that every organization
should incorporate into
their processes.
 They are absolutely
essential for the success
of any project.
Conclusion

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You may learn these principles and a
lot about project management, in
the certified project manager and
diploma in project management
programs, which are offered 100%
online by AIMS, through interactive
learning.

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AIMS’ Project Management Programs:
Certified Project Manager (CPM)
Certified Project Management Expert (CPME)
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For registration and details
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