Project management principles and processes

Project Management Principles

Definition of Project Management: Organising, controlling and planning resources to achieve specific objectives within a timeframe.
Five Phases of Project Management: Initiation, Planning, Execution, Monitoring & Control, and Closure.
Initiation: Phase where project’s feasibility and value are evaluated, leading to the creation of a Project Charter or Project Initiation Document (PID).
Planning: Phase involving the creation of a detailed plan, outlining resources, time, cost and quality, resulting in Project Management Plan.
Execution: Implementation of the plan, mobilising resources and directing teams to achieve project goals.
Monitoring & Control: Ongoing assessment of project progress against the plan, making necessary adjustments.
Closure: The formal completion of all project tasks and delivery, evaluating success and lessons learned.

Project Management Processes

Scope Management: Defining and controlling what is and isn’t included in the project.
Time Management: Planning and overseeing the project schedule, utilising time effectively.
Cost Management: Estimating, budgeting and controlling project costs to avoid overspending.
Quality Management: Ensuring the project’s output meets the required standard or expectation.
Risk Management: Identifying, analysing and responding to risks associated with the project.
Resource Management: Addressing the effective and efficient use of human resources, equipment and materials.
Communication Management: Ensuring right information is delivered at the right time to the right people.
Procurement Management: Process of purchasing or acquiring products and services needed for the project.
Stakeholder Management: Managing stakeholders’ expectations and engagement during the project cycle.

Project Life Cycle

Identify Stages: Projects typically progress through four stages: conception, definition, delivery and handover.

Quality Assurance

Quality checks: Regular quality checks and reviews ensure that products and services meet or exceed expected standards.

Risk Assessment

Identification and mitigation: Risks must be identified, assessed, and mitigated or managed as part of a comprehensive risk assessment and management process.

Procurement

Vendor relations and contracts: Successful project management involves good relationships with vendors and comprehensive understanding of contract details. Contracts must be managed to ensure all parties fulfil their obligations.

Communication Management

Clear communications: Clear and regular communication with stakeholders can help avoid misunderstandings and ensure that everyone is clear on project objectives and progress.

Roles and Responsibilities

Clear roles: Each project team member needs to know their role and responsibilities to help the project run smoothly.

Remember, applying these principles and processes using a range of tools and techniques is key to effective project management. Effective project management leads to successful project completion on time, within budget, and to the required quality standards.