Key Project Management Areas
Did you know that 42% of project management practitioners worldwide believe their organization doesn't fully grasp the value of project management? Interestingly, 87% of senior executives think their organization fully comprehends the same value. A significant difference in opinions under the same roof.
We believe this confusion is due to a disconnect from the core principles of project management. To address this gap, we delve into the fundamentals of project management exploring its significance and examining its features.
Scope Management
Scope management is the process of defining and controlling the work required to complete a project, including its outputs, outcomes, and benefits. Scope management aims to ensure that a project stays on track, meets stakeholder expectations, and is completed within budget.
Cost Management
Project cost management is the process of estimating, budgeting, and controlling project costs throughout the project's life cycle. The goal of cost management is to ensure that a project is profitable at every stage and doesn't go over budget.
Communication Management
Communication management in project management is the process of collecting, storing, and sharing information and data throughout a project's life cycle. It involves using specific methods, channels, and strategies to ensure that all stakeholders have access to relevant information.
Time Management
Refers to creating a project schedule, setting deadlines, and ensuring the project is completed on time
Quality Management
Project quality management is continually measuring all activities' quality and taking corrective action until the team achieves the desired quality. Ensuring that projects meet quality standards and that the deliverables meet the needs of the stakeholders. Quality management processes help to: Control the cost of a project. Establish standards to aim for. Determine steps to achieve standards.
Risk Management
Risk management is a proactive process in project management that involves identifying, evaluating, and addressing potential issues that could impact a project's goals. The goal of risk management is to prevent or mitigate risks before they happen, or to address them as soon as possible.