Project management is the methodology for proposing a Project throughout different phases, ranging from its inception to its end. A project compromises a specific cluster of operations designed to achieve a goal with a set scope, resources, start and end. A project manager is responsible for fulfilling the five phases of the project that are as follows:
Monitoring and Control
I. At the beginning of the projects the scope is defined, the work team is selected, an estimated costs analysis and risk analysis are performed, milestones are defined, and contact information is collected from the personnel involved in the project. In short, the Project Charter is developed.
II. In the planning part, a meeting with the personnel required in the project is held in order to define the following:
III. In the execution part of the project, previously planned activities are started to ensure greater control over the progress and times determined. At this stage, the following activities are handled: risks, document changes, events, expenses, resources, time, and the updates & modifications.
IV. The monitoring and control part goes hand in hand with the execution phase. At this stage, the execution of the project is monitored so that if a change of plans is necessary, it can be done in the best time indicated and minimizing risks.
V. A final review is made at the closing of the project to ensure that the objective of the project was met and that all contractual requirements were met. This phase involves activities such as: closing documents, meetings with the end costumer, trainings that give way to the service management phase.
Project management is important because it ensures that what is being delivered is well done and will provide real value versus business opportunities. Excellent project management means compliance with deadlines, budget, and scope; It unites customers and teams, creates a vision for success, and puts everyone on the same page as what it takes to stay on the path to success. When projects are managed correctly, there is a positive impact that will be transmitted beyond the delivery of "things". Good project management ensures that project objectives align closely with the strategic objectives of the business. As projects progress, risks may arise, become problems, or even change the trading strategy. But a project manager will make sure the project is part of that alignment. The importance of project management is demonstrated in cases where projects deviate from the course or don’t adapt to the needs of the business, becoming costly or unnecessary.