What is Project Management? (Explained with Examples)

Are you wondering what exactly is Project Management and why especially in today’s time every project manager uses some sort of project management tool? If yes, then in this article, I am going to explain to you project management with a few project management examples

I will also share the secret of successful project management with the help of which so many small businesses and freelancers have successfully planned and completed projects.

What is Project Management?

Project Management’s definition might differ but the meaning remains the same. As per the Project Management Institute, “project management is defined as the use of the principles, skills, tools, and techniques to deliver something of value to people/organizations.” 

Project management has few key components and they are time, cost, scope, and quality. Some of the basic examples of project management projects are the construction of a building, developing software for an automobile company, or designing the interiors of a house. 

(Note: A project is a temporary endeavor that is undertaken to produce a defined outcome. Each project has its scope and objectives along with a defined time and budget to complete.)

Project management is necessary because it helps every part of the business run smoothly. It also frees team members from all the distractions and allows them to focus on the task. Other benefits are:

  • Improves internal communication
  • Saves time and money
  • Make better business decisions and,
  • Helps to repeat your successes 

5 Phases of Project Management 

The project goes through the following various stages in project management: 

Initiation

It is the first step in project management where you have to define project goals, create a business case, and also create a project charter (it is a document consisting of project goals, timeline, budgets, etc.) Once the scope is determined you have to then identify key stakeholders.

Planning

The next step includes the making of the project roadmap. If you are using any project management tools then this process won’t take much time. In this stage, you have to develop a project schedule, identify technical requirements, create a communication plan, and set up goals/deliverables. During the planning process, a detailed project timeline is prepared with each deliverable, and risk mitigation is done in this step. 

Execution 

In the third stage, the actual work begins where the team members work their tasks. The project manager has to monitor the progress of the team and establish workflows. During this process, the project manager has to also maintain collaboration between stakeholders. 

Monitoring and Controlling

This step is run simultaneously with the execution process, where the project manager has to look out for the progress and see that no one deviates from the original task. It also includes tracking the performance and cost during the process.

Project Closure

This is the final step in the project management process, where final deliverables are presented to clients, and once approved the project is complete. After that, most teams reflect on the lessons learned, look out for success and failures during the project. It helps them to understand their strengths and weaknesses.

What are Project Management Skills?

Project management skills are different skills required to efficiently complete a project. There are many hard (technical) and soft skills a project manager should have in them or develop to lead a project with a team. Following are the few selected project management skills that can help you in a long way:

Leadership

It is one amongst many soft skills which an employer values in their employees. 

Strong leadership skill is critical for project managers so that they can accomplish their goals with the team successfully. It also requires motivating and inspiring the team. Further, it helps in team building by making people help each other. A leader will always listen, understand and consider team members’ perspectives before making decisions. 

Scheduling & Time Management

“Time is precious, once gone it never comes back”- this phrase is the perfect example to explain the importance of scheduling and time management in project management. 

For creating a smooth sailing process of projects, project managers must have the skills of scheduling tasks as per their priorities and making deadlines for all deliverables.

Nowadays, there are project management tools that have these skills feature in them. Therefore, it has become easier for project managers to schedule tasks and track the progress of a project. 

Communication

Good communication skills go hand-in-hand with leadership skills. If you cannot effectively communicate with your team then you cannot lead them. It is not only about communicating with the team but project managers have to have clear communication with other people who are part of the project. Without communication, a project cannot be completed successfully. 

Risk Management

Risk is part and parcel of any project but that doesn’t mean risk management is not a required project management skill. Risk management is a technical skill that a project manager must-have. As it’s their job to look out for any risks and to reduce the chances of it. Alongside, having an effective backup plan if things go haywire. A good project manager with risk management skills will most likely prevent any risk from coming their way and will always be prepared with a solution. 

Cost Management

It is the process of managing and planning the budget of a project. It helps the project manager in estimating the cost and controlling it wherever needed, so that chances of project cost overruns get reduced. It is important to develop cost management skills so that your project doesn’t face any budget issues.

Organizing skills

Organizing skills are the ability to multitask and stay focused while also using your time, mental and physical ability effectively to reach the desired goal. The project managers with this skill will always be successful because they know how to organize their work along with their team. If you don’t have in you the organizing power then you should start developing one. Because a successful leader is one who can manage their work effectively and still be prepared for anything coming their way.

Adaptability

Let’s take an example of today’s time, where people have to and are still adapting to the remote working situation due to covid. It was an unthinkable situation a few years back but today we all are living and adapting to our new lifestyle.  This is what is adaptability and in the case of project management, project managers must have the ability to adapt to new technologies, trends, lifestyles, and more. So that they can lead their teams in the right direction. 

Critical Thinking

The ability to analyze a situation objectively without any biased judgment is what is critical thinking. The objective approach of making decisions will always lead you and your team in the right situation. It also ensures that external factors don’t hinder your project. A project manager with critical thinking skills will always be versatile and adaptable. 

Projectopia- The Best Project Management Tool

Let’s face it we all need a helping hand which can make dealing with projects much easier. And that’s where project management tools come into the picture. It is the best way to organize your tasks and execute your project planning without worrying about messing it up.  

The terms project management and Projectopia go hand in hand.  It is a project management tool designed for WordPress. Projectopia is the first choice for more than thousands of professionals because of its many amazing features. It is an easy-to-use and least expensive plugin for WordPress. It is curated keeping in mind small businesses and freelancers who are in dire need of project management tools. It includes many features like:

  • Quotes & Estimations,
  • Workflow Control
  • Client Dashboard,
  • Client Management (add clients and contact details, custom fields in client admin, client notes, etc)
  • Invoices
  • Team Members 

Projectopia also has many add-ons like WooCommerce Add-on, Twilio Add-on, Subscription Add-on, and a few. You can also try it first with the help of its demo feature to get a hands-on experience. (Now when the secret is out, it’s time to go and try out.)

Conclusion

I hope you now have a clear idea of what project management is with the help of project management examples. As well as different skills required in project management and its importance. 

Now, you are ready to execute successful projects with the help of a project management tool.

Leave a Comment

Your email address will not be published. Required fields are marked *

Awesomeness delivered
in your inbox.

Copyright © 2021 ExpressTech

Stay connected on