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4.1 - Basic Concepts of Project Management

A project is a temporary endeavor undertaken to create a unique product, service or result. Project management is the application of knowledge, skills, tools and techniques to meet project requirements. It involves planning, executing, monitoring and controlling, and closing a project. Project management balances competing constraints like scope, quality, schedule, budget and resources to meet stakeholder needs and expectations. The project life cycle defines the work, deliverables, team roles, and phase approval process needed to complete a project in a systematic and controlled manner.

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Eduardo Morales Ensastiga
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159 views7 pages

4.1 - Basic Concepts of Project Management

A project is a temporary endeavor undertaken to create a unique product, service or result. Project management is the application of knowledge, skills, tools and techniques to meet project requirements. It involves planning, executing, monitoring and controlling, and closing a project. Project management balances competing constraints like scope, quality, schedule, budget and resources to meet stakeholder needs and expectations. The project life cycle defines the work, deliverables, team roles, and phase approval process needed to complete a project in a systematic and controlled manner.

Uploaded by

Eduardo Morales Ensastiga
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Project Management

Overview
4.1- Basic Concepts of Project Management
4.1- Basic Concepts of Project Management

A Project is a temporary endeavor undertaken to create a unique


product, service, or result.
The temporary nature of projects indicates a definite beginning
and end. Temporary does not necessarily mean short in duration,
and does not generally apply to the product, service or result
created by the Project.
What is a The end is reached when the Project’s objectives have been
Project? achieved or when the Project is terminated because its objectives
will not or can not be met, or when the need of the Project no longer
exists.
Most Project are undertaken to create a lasting outcome which is
unique, even if repetitive elements are present in some project
deliverables.
PMI Institute. “A Guide to the Project management Body of Knowledge (PMBOK Guide) Fourth Edition.
4.1- Basic Concepts of Project Management

A Project can create:


 A product that can be either a component of another item or an
end item in it self.
 A capability to perform a service (e.g. a business function)
 A Result, such as an outcome or document (e.g. a research project
that develops knowledge of a specific behavior)
What is a PMI Institute. “A Guide to the Project management Body of Knowledge (PMBOK Guide) Fourth Edition.

Project?
4.1- Basic Concepts of Project Management

Project management is the Application of knowledge, skills, tools


and techniques to project activities to meet the Project
requirements.
Project management is accomplished through the appropriate
application and Integration of up to 42 logically grouped
What is management processes comprising 5 Process Groups:
Project

Management? 
Initiating
Planning
 Executing
 Monitoring and Controlling
 Closing
PMI Institute. “A Guide to the Project management Body of Knowledge (PMBOK Guide) Fourth Edition.
4.1- Basic Concepts of Project Management

Managing a Project typically includes:

 Identifying requirements
 Addressing the Various needs, concerns and expectations of the
stakeholders as the Project is planned and carried out.
 Balancing the competing Project constraints including, but not limited

What is to:
 Scope

Project 

Quality
Schedule
Management? 

Budget
Resources
 Risk

PMI Institute. “A Guide to the Project management Body of Knowledge (PMBOK Guide) Fourth Edition.
4.1- Basic Concepts of Project Management

Project Lifecycle

What is
Project
Management?
4.1- Basic Concepts of Project Management

The Five Phases that make up the Project Life Cycle should define:
 What Work Must be Accomplished
 What deliverables must be generated and reviewed
 Who must be involved
 How to control and approve each phase

What is
Project Determining these elements will take a project from start to finish.
It provides a systematic, timely, and controlled process that benefits
Management? a project’s stakeholders. This helps PMs define what needs to be
accomplished before moving onto the next phase of a project

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