Project management is the use of specific knowledge, skills, tools and techniques to deliver something of value to people. The development of software for an improved business process, the construction of a building, the relief effort after a natural disaster, the expansion of sales into a new geographic market—these are all examples of projects.

1. INTRODUCTION
TO PROJECT
MANAGEMENT

2. CONTENTS
1. INTRODUCTION
2. PROJECT MANAGEMENT LIFE CYCLE
3. IMPORTANCE OF PROJECT
MANAGEMENT
4. CONCLUSION

3. INTRODUCTION
Project management is the
application of processes, methods,
skills, knowledge and experience to
achieve specific project objectives
according to the project acceptance
criteria within agreed parameters.
Project management has final
deliverables that are constrained to
a finite timescale and budget.

4. PHASES OF PROJECT
MANAGEMENT LIFE
CYCLE
4

6. INITIATION
Project initiation is the first
Project Management life cycle
phase, where the project starts. It
provides an overview of the
project, along with the strategies
required to attain desired results.
It is the phase where the
feasibility and business value of
the project are determined.

7. PLANNING
A lot of planning related to the
project takes place during this
phase. On defining project
objectives, it is time to develop a
project plan for everyone to
follow.The planning phase frames
a set of plans which help to guide
your team through the
implementation phase and closing
phase.

8. EXECUTION
Project execution is the phase
where project-related processes
are implemented, tasks are
assigned, and resources are
allocated. The method also
involves building deliverables and
satisfying customer requirements.
Project managers or team leaders
accomplish the task through
resource allocation and by keeping
the team members focused.

9. MONITORING & CONTROL
During the project monitoring and controlling phase, the time, cost,
and performance of the project are compared at every stage and
necessary adjustments are made to the project activities, resources,
and plan to keep things on the right track.
Outputs from this phase include project progress reports and other
communications that ensure adherence to project plans and prevent
larger milestones and deadline disruptions.

10. CLOSURE
The process of finalizing the project, reviewing the project
deliverables, and transitioning them to the business leaders is called
the project closure phase in a project management life cycle.
This stage offers time for both celebration and reflection. Outputs
from this project management phase include approved project
results and learnings that can be applied to similar projects in the
future.

11. IMPORTANCE
OF PROJECT MANAGEMENT
11

12. The landscape of Project Management is changing with every
passing day. It is crucial to keep pace with the trends if you are
interested in understanding the benefits of project
management.While project management skills are not easy to learn
in theory alone, doing a course does come with benefits. It is worth
investing your time in learning project management skills as all
employers are giving PM high priority. Project management also
brings leadership and direction to projects.

13. ● A Clear Project Plan and Process
● Establish Plan and Schedule
● Teamwork
● Maximize Resources
● Build on Knowledge
● Manage Quality

14. CONCLUSION
Project management is not a panacea, but rather a critical tool in
the never-ending process of growth and renewal of the business. It
allows the entrepreneur to minimize and mitigate inherent risks
and increase the potential for success of the launch and the ongoing
operations.