Project management involves strategically executing tasks to achieve objectives within defined parameters, consisting of five main phases: initiation, planning, execution, monitoring & controlling, and closing. Successful project management tips include effective communication, realistic scope definition, regular progress monitoring, and appropriate methodology selection. The document emphasizes the importance of planning and engaging stakeholders to ensure project success.

1. Project Management:
What it is & Best
Practices for
Successful Project
Management
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2. Project management is a strategic
execution of everything a team has to
do to accomplish all objectives with
specific parameters.
It is all about setting up a plan,
managing it, & controlling the project’s
factors.

3. There are mainly 5
phases of successful
project management-
Project Initiation :
It is the first phase of Project Management.
Initiating a project involves gathering
background information, generating ideas,
and forming an action plan.

4. Project Planning :
This phase aims to set the key milestones
and deadlines for the final project
completion, ensuring that all your team
members move towards the same goal.
Project Execution :
The project execution phase includes
workflow management & corrective actions
from the client, ensuring that everyone
stays on the same page & the project runs
steadily without any issue.

5. Project Monitoring & Controlling :
Project monitoring helps the manager
identify the current project status vs. the
actual project plan and prevent the
chances of disruptions & costs for the
project.
Project Closing :
This phase ensures that all loose ends are
tied up, & the client walks with the final
deliverables.

6. Here are some of the
tips recommended for
a successful project
management process:
• Invest in initiation and planning
• Decide on the realistic scope
• Communicate effectively
• Create a risk response team
• Plan your schedule wisely

7. • Practice effective resource management
• Ensure stakeholders requirements
• Monitor & track project progress regularly
• Arrange the reflection meeting
• Choose a suitable project management
methodology
• Encourage transparency & ownership
culture

8. INSIGHTFUL,
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