Project Management Chapter 4
Project Management Chapter 4
product, service, or result. It has a defined beginning and end, and it consumes resources.
tools, and techniques to project activities to meet project requirements. It involves planning,
Importance of Project Management: Effective project management ensures that project goals
are achieved, on time, within budget, and with the desired quality.
The Project Life Cycle: The project life cycle includes initiation, planning, execution,
Initiating a Project: This phase includes defining the project scope, objectives, stakeholders,
Project Charter: The project charter is a document that formally authorizes the existence of a
project and grants the project manager authority to apply organizational resources.
Project Scope and Objectives: Scope refers to the work required to complete the project, and
Creating a Project Plan: A comprehensive plan that outlines project tasks, schedules, resource
Executing the Project Plan: This phase involves coordinating people and resources, managing
stakeholder expectations, and ensuring that project tasks are completed as planned.
Team Building and Leadership: Effective project managers need to lead and motivate project
teams. Building strong teams and resolving conflicts is key to project success.
Project Monitoring: Tracking project performance, comparing it with the project plan, and
identifying deviations.
Change Management: Managing changes to the project scope, schedule, and resources in a
Risk Management: Identifying potential risks, assessing their impact, and developing
Quality Control: Ensuring the project deliverables meet the required quality standards through
Closing the Project: This phase involves completing all project work, obtaining formal
acceptance of the deliverables, and closing contracts with suppliers and stakeholders.
Finalizing Documentation: Gathering and finalizing all project documents, reports, and lessons
Evaluating Project Success: Assessing project performance against the original objectives,
Post-Project Review: Conducting a post-mortem review to identify what went well and areas