Project management is the process of leading a team to achieve goals and meet success criteria within constraints like schedule and budget. It involves 5 phases: initiation, planning, execution, monitoring, and closure. Project management allows organizations to focus on important work and avoid distractions that could cause tasks to go off track or budgets to spiral out of control. While it has advantages like being cost effective and allowing optimization, it also has disadvantages such as being slow and lacking intuitiveness.

1. PRESENTATION
PROJECT MANAGEMENT

2. PROJECT
MANAGEMENT
Project management is the
process of leading the work
of a team to achieve goals
and meet success criteria at
a specified time.
The primary challenge
of project management is to
achieve all the project goals
within the given
constraints.

3. Objectives of
Project Management
Right Quality:
The quality of the product is
established based upon the
customers’ needs. Customer’s needs
are translated into product
specifications by the design or
engineering department.
Right Quantity:
The manufacturing organization should
produce the products at the right
number. if it is produced in quantity
short of demand, there will be shortages
of products. Thus, a decision is to be
taken regarding how much to produce.
Manufacturing Costs:
Manufacturing costs are established
before the product is manufactured.
The manufacturing department must
manufacture the products at the pre-
established cost.
Manufacturing Schedule:
Timeliness of delivery (schedule) is
one of the important parameter to
judge the effectiveness of production
department.

4. Phase 1: Project Initiation
This is the start of the project, and the goal of this
phase is to define the project at a broad level.
Phase 2: Project Planning
This phase focuses on developing a roadmap that
everyone will follow which begins with goal setting.
Phase 3: Project Execution
A phase where deliveries are developed and
completed.
Phase 4: Project Performance / Monitoring
This is all about measuring project progression,
performance and ensuring that everything aligns with plan
Phase 5: Project Closure
This phase represents the completed project. The contractors
hired are terminated & team members are recognized.

5. ADVANTAGES DISADVANTAGES
COST EFFECTIVE IT IS SLOW
SUITABLE FOR REMOTE
PROJECTS
THE ABSENCE OF THE CENTRAL
AUTHORITY
IT’S SEQUENTIAL NO CUSTOMER FOCAL POINT
QUICK TIME AROUND TIME MANAGEMENT
OPTIMIZATION OF CUSTOMER’S
SATISFACTION
RISK INVOLVING AND
CHALLENGING DEVELOPMENT
RESPONSIBLE FOR THE
QUALITY DELIVERABLE
LACK OF INTUITIVENESS
NO TRAINING IS REQUIRED LACK OF COORDINATION
SECURED LOCAL OPTIMIZATION
FLEXIBLE MANAGEMENT NO EASY CHANGE
Advantages & Disadvantages of
Project Management

6. Importance of
Project Management
The importance of project
management in organizations can't be
overstated. When it's done right, it helps
every part of the business run more
smoothly.
It allows your team to focus on the work
that matters, free from the distractions
caused by tasks going off track or budgets
spinning out of control.

7. Conclusion
Business Cycle for a new venture involves several development points, mostly under
control of the entrepreneur.
The key takeaways include the following:
Project management is the primary tool for executing the business
plan, installing the businesses processes, and achieving the
strategic ambitions of the entrepreneur.
Project management helps to detail what tasks will be
accomplished, who will be involved in completing the tasks, and
when tasks should start and finish.
Typically, projects progress in steps or incremental
stages; however, other approaches for rapid, interactive
project management are also widely used.
Several tools can be used to manage the project and
communicate timing and status, including task diaries, WBSs,
and Gantt charts.