Project management is the systematic planning and co-ordination of
people, activities and resources to ensure that a complex undertaking
can be successfully achieved within a given time frame and budget.
Project management has five main phases: initiation, planning,
executing, controlling, and closing. Project manager must
simultaneously and effectively manage these four basic interrelated
elements –scope (project scope management), time (project time
management), cost (project cost management) and quality (project
quality management), knowing that quality is an inseparable part in
setting the scope, time and cost of a project. Since people are the most
valuable assets in any project, human resource management, is a very
important part of project management since it directly affects how
these resources [people] perform to attain project objectives.
Effective
project management, which involves information distribution,
stakeholder management, communication planning, and performance
report. To manage the team members and communicate well with
other key elements in a project, it is very critical that project managers
must develop a good communication and conflict management skills.
In addition, risk management are risk monitoring and control, risk
identification, risk management planning, quantitative risk analysis,
and qualitative risk analysis. Contract closure is the process that
involves the completion and settlement of all contracts that existed
during the project life cycle.