Project Management- A strategic process

Published by MBA Skool Team, Published on June 23, 2011

Every organization steps into the world of business looking to fulfill certain needs of the people. They set certain objectives and the entire workforce works simultaneously in completing the mission. But achieving and accomplishing organizational goals is not an easy task by any means. It requires channelizing all efforts in a single direction by dividing work into projects and accomplishing them one by one. This is where in every field, be it business, entertainment, construction or manufacturing, the most important process is project management.


project management


Project management is a process by which an organization plans, organizes and manages resources in accomplishing organizational goals by the application of knowledge, tools and processes.


Project management can be broken down in important modules and each process mentioned below can be then implemented for the overall success of the project.


• Team management-

The first most important part of any project is the workforce. The employees are entrusted with the responsibility of using their knowledge, teamwork skills and experience. Thus creating a team, training them for the requirements of the project and allotting them duties and responsibilities depending upon their capabilities is the most important part of project management.

• Project Initiation-

This phase is the starting the process of working on the project by defining the project requirements, setting the objectives which need to be achieved and various approaches to be implemented. Brainwashing the team about the goals is another aspect of the initiation stage.


• Project Planning-

This is the most critical stage as it requires thorough study of possible events that many occur during the execution of the project. Calculating the budget, salaries, employee incentives, overview of resources etc all need to be worked upon before taking the plunge.


• Project Execution-

Project execution is the real implementation of processes and the working of the project. Execution includes operating costs, communication, budget management, knowledge management, quality management, documentation and taking critical decisions.


• Leading, Controlling and Monitoring

This stage of project management overlaps with the project execution. The top management and project managers are responsible for showing leadership and leading the workforce by exemplary means, motivating them and extracting the best of their skills. Apart from that controlling the workforce by effective time management and monitoring the progress of the project is also a critical stage.

• Project conclusion-

Regardless of the success of the project, this stage of the project wraps up the project in the concluding phase and includes documentation, auditing of financial resources and feedback.


• Follow-up

Completed projects would have to followed up on a regular basis so as to provide services and maintenance, and ensuring the effective utilization of the project.


The process of project management reduces the risks considerably and improves the chances of the project's success by working on the three pillars of time, cost and scope. And thus, it becomes a pivotal strategy in the progress of any organization to succeed in the process of project management.


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