What is Project Management?
A project is temporary. It has a defined beginning and end. A project is therefore a unique operation with a specific set of required skills and processes to accomplish a single goal. It follows the following lifecycle.
Initiation – Planning – Executing – Monitoring and Control – Closing
Project Management is the application of processes, methods, skills, knowledge and experience to achieve defined project objectives according to the project acceptance criteria within an agreed framework. Project Management has final deliverables that are constrained to a finite time line and budget.
Project Management is best visualised with its 9 subject matters, ruled by governance, contracts and safe operations and impacted by environmental constraints, permitting authorities and client priorities.
Project Management has always been performed informally but began to emerge as a distinct profession in the mid-20th century with the establishment of PMBOK (Project Management Book of Knowledge), a guide by PMI (Project Management Institute) and universities around the world.