Mastering the Art of Project Management: A Comprehensive Guide to Success

Introduction

This blog covers in an elaborate manner, right from basics of project management to advanced methodologies of project management currently in use. It is vital for any organisation, be it small or large scale to carry out its function and project deliverables effectively using professional project management. Further various facets and aspects of project management are laid out in the later part of the article which is easy to understand for anyone at beginner level as well as useful for working professionals to stay in touch with the subject.

This blog also correlates the subject knowledge (i.e. project management) with the practical use case pertaining to the construction industry and few examples from the IT industry have also been given. It is fairly accurate to say that the presence of professional project management leads to stability in the various functions of the project which makes it more predictable and achieves the goals of the organisation.

What is the definition of project management?

The use of procedures, techniques, abilities, knowledge, and experience to accomplish certain project goals in accordance with predetermined guidelines is known as project management. Final deliverables in project management are subject to constraints on the availability of budget and time.

The fact that project management has a final outcome within a limited time frame as opposed to management, which is a continuing activity, is a crucial aspect that sets it apart. Consequently, a project professional needs a diverse set of abilities, including several technical ones, as well as solid people management and commercial acumen, which eventually give awareness of doing good business.

What is a project?

A project is a one-of-a-kind, temporary undertaking that is started with the intention of achieving predetermined goals, which might be expressed in terms of outputs, results, or benefits. A project often qualifies as successful if it completes its tasks on schedule, within budget, and in accordance with the set objectives, eventually performing effective project management. Every project is built on the pillars of project management, i.e. quality, time, and cost.

Quality: How will the effectiveness of the project management procedures and deliverables be ensured in terms of quality?

Time: Scheduling is a group of methods used to create and communicate timetables that indicate when work will be completed within project management.

Cost: How are the required funds obtained and finances managed in terms of cost?

When do we use project management?

When an organisation seeks to offer a solution to specified needs within a given budget and time limit, it engages in projects, which are distinct from business as usual operations.

Projects necessitate the temporary gathering of a team of individuals to concentrate on certain project goals. As a result, successful initiatives depend heavily on excellent cooperation. Hence project management is employed in such projects.

In project management, separate work packages are managed to accomplish predetermined goals. Many different variables affect how the task is managed.

A project’s size, importance, and complexity are clear determining variables for project management; for example, moving a tiny office and planning the IPL share many fundamental concepts but provide extremely distinct administrative issues. One way to express an objective is:

Outputs (like a new Factory setup);
Outcomes(such as the transfer of workers from various locations to the new Factory);
advantages (such less travel and facility management expenses);
strategic goals, like doubling the company’s stock price in three years.

Why is professional project management used ?

The goal of project management is to oversee the creation of deliverables that benefit the organisation. This necessitates strategic planning, including defining the project’s strategic value, determining the resources needed, and creating a timeframe for completion.

Formal management is necessary for initiatives that create new deliverables or update current ones. Change management and risk management should be integrated into these projects since the work and teams involved are typically more complicated than those in business as usual efforts.

Should an organisation invest in good project management ?

Without a culture that prioritises project management, organisations struggle to fulfil deadlines and stay within their budgets. Complex project planning and execution would be chaotic, and the standard of the outputs for each project would be inconsistent.

Investing in efficient project management not only gets rid of these issues, but it may also boost a project manager’s chances of getting the outcomes they want while keeping stakeholders’ interests in mind.

What is the aim of project management?

The goal of project management is to create a final product that will bring about some change for the organization that initiated the project. To produce this final output, a number of actions must be started, planned, and controlled. Formal project management is necessary for projects that:

Create something new or different, physical or intangible;
Have a fixed time frame with a beginning and an end;
Entail a lot of work or people;
Need the management of change; and
Handle risks.

Numerous advantages will result from an investment in efficient project management, including:

increasing the possibility that the desired outcome will be achieved;
guaranteeing efficient and best value utilisation of resources; and
meeting the various requirements of the project’s stakeholders.

Who uses project management?

Even those who aren’t technically referred to as “project managers” handle projects. Ever planned a gathering? That simply means you led a team of individuals in managing the project, and project management is a valuable life skill for everyone. More officially, initiatives appear throughout all sectors of industry and commerce which nothing but project management:

Real estate and construction industry
Infrastructure and transportation industry
Product manufacturing industry
IT sector
Finance industry
Legal industry

Example of project management

Let’s imagine that a project manager is in charge of organising a group that will develop a construction project. They start by determining the project’s scope which is the first step of project management. The project team, which may consist of developer, architect, technical consultants, engineers, safety officers, and quality assurance professionals, is then given assignments to start with project management. A schedule is made and deadlines are established by the project manager.

A project manager will frequently use Gantt charts or PERT charts which are project management tools to visualise the workflow and identify which departments are responsible for which tasks. Project management team led by project manager created a budget that has enough money in it to cover unforeseen events and yet keep the project on track. The project manager further ensures that the project management team has the resources necessary to construct the proposed development project.

One of the most important aspects of the project manager’s work is to integrate project management team members from different backgrounds and develop a sense of collective purpose about achieving the ultimate objective like when a major construction company buys or acquires a construction project from another developer. Although they may have some technical expertise, project managers also have the crucial responsibility of taking high-level corporate visions and delivering concrete outcomes on schedule and within budget.

Lifecycle of a project

All projects must go through the five phases of the project life cycle. These phases are grouped under following project management processes-

Project initiation
Project planning
Project execution
Project monitoring and control
Project closure

How to manage a project and perform project management?

Project Initiation: During this initial phase of project management, the project manager is required to demonstrate the project’s value and viability using a number of project management documents. Here are the most crucial ones:

Business case: A business case explains the necessity for the project, its goals, and its expected return on investment.

Feasibility study: A feasibility study establishes that the project can be carried out affordably and on schedule along with a project management plan.

Project charter: A project charter explains what will be delivered by the project through the project management plan.

Create the project team: Any project requires resources to be completed. A project management team must first be established before a timetable can be produced. Job descriptions, duties, and responsibilities are created as part of this. A project management team charter can be prepared which may contain all of this data.

Establishing the Project Management Office (PMO): The Project Management Office (PMO) is a physical location where the project manager and support employees are housed. Therefore, having project management software and any other necessary equipment is part of the infrastructure for the project management office.

Project kickoff agenda: The project launch meeting, which brings together the project management team and project stakeholders to establish the project’s goals and objectives, scope, and timeframe, concludes this phase of project management.

Project Planning: The formulation of the project management plan, which details how each project management area will be managed during the project execution phase, is the aim of the project planning phase.

Here is a brief summary of the key elements of a project management plan. As you can see, some of them are more compact action plans for handling certain issues.

Project Schedule: The project schedule outlines a timetable for carrying out activities and allocating resources for project management plan. Using task management and time tracking technologies, project managers must continuously check the project timeline.

Project Budget: The total expected project costs make up a project budget. Project managers must keep expenditures under control to avoid going over budget.

The work breakdown structure: The Work Breakdown Structure (WBS) is a project planning tool that enables project managers to visualise and prioritise all of the tasks, deadlines, and deliverables included in a project’s scope.

Plan for scope Management: Your project’s scope will be managed throughout the project to prevent scope creep, according to your scope management plan.

Plan for Risk Management: The risk register in the risk management plan lists all possible hazards, their owners, and the risk mitigation measures that would be put in place for each one.

Plan for Resource Management: The project’s resource management plan outlines how resources will be acquired, distributed, and managed.

Plan for Stakeholder Management: Lists all project stakeholders, prioritises them, and describes how to communicate with them and resolve disputes.

Performance Measurement Baseline (PMB): A performance measurement baseline (PMB) should be established in order to monitor the scope, cost, and timeline of your project.

Project Execution : Project execution, the third stage of project management, entails tackling the activities and milestones listed in the project plan in order to achieve the project’s aims and objectives.

Project managers must supervise all areas of project management expertise during the project execution phase as their projects move closer to the monitoring and control phase.

Project task management: Task management is a need for team members and project managers. For effective project management ensure that the work is being completed within the time period of the anticipated schedule, monitoring and reporting are required. Two common tools for managing tasks are task lists and kanban boards.

Project schedule management: After a schedule is established for a project management plan, it needs to be followed throughout the course of the project to ensure that it doesn’t veer off course. The road for maintaining task progress, goals, priorities, and deadlines in line with the schedule is charted by effective schedule management.

Project cost management: Just as per the planned schedule, a budget is established for project management plan. But that does not imply that the work is finished. Money has a propensity to vanish, as everyone with a wallet is aware. Controlling project expenses is necessary to keep them within the approved spending limit.

Project quality management: Deliverables should be produced on schedule and within budget, but if they are of poor quality, the project will fail and called a product of poor project management. Consequently, ensure that all success criteria and quality standards established by project stakeholders are being satisfied.

Project change management: change management is a general term for a procedure used to enhance operations, budget allocation, and business processes within an organization. When used in project management, however, the emphasis is focused on the project itself and containing scope changes throughout the execution stage.

Project procurement management: Few projects can be completed without the use of purchases, rentals, or contracts with outside resources, according to procurement management. Procurement is the name of this procedure which is an integral part of project management. Procurement management is all about overseeing interactions with suppliers and vendors.

Project resource management: A resource is everything that is required to complete a project. That comprises the team, resources, tools, materials, etc. The team’s tasks and responsibilities, the things they’ll require, and the location of their workspace are all included in resource planning.

Team building: When the project is being carried out, the planning takes the lead, but team members need to have the resources to collaborate effectively and maintain constant contact. Team-building activities and technologies that link team members, whether they are based in the same office or working remotely, can promote team cooperation.

Project Monitoring and Control: Project monitoring and control, the fourth stage of project management, happens at the same time as the project’s execution phase. It entails keeping an eye on the project’s performance and development to make sure it stays on track and within budget. Procedures for quality control are used to provide quality assurance.

Another essential component of this project management phase is reporting. In order to keep stakeholders informed, it first enables project managers to monitor progress and, second, offers data during presentations. Project status, timesheets, workload, allocation, and expenditure reports are just a few of the various reports that are available for project management.

Project Closure: Project closure, the last project management phase, involves presenting the project’s final deliverables to the stakeholders. Resources are released, paperwork is finished, and everything is signed off after it has been authorized.

The major phases of this project management phase are shown below.

Project Transfer Deliverables: Producing a final deliverable is the project’s main goal. That signals the conclusion of project execution and the start of project closure. As a result, be sure that all project deliverables are recognized, finished, and given to the appropriate person.

Project completion confirm: At this point, all stakeholders, clients, and even the project team need to confirm completion. Sign-offs are necessary to prevent misunderstandings and last-minute alteration requests.

Review of Documentation: The project manager is often in charge of reviewing all contracts and supporting paperwork to ensure that everything has been approved and signed.

Release of Resources: Resources must be relinquished before a project is finished, including the team, any contract labour, rents, etc. Establish a procedure for informing and confirming payment for everyone.

Perform a post-mortem: In a post-mortem, the completed project is examined to determine what succeeded and what failed. This is a fantastic approach to build on previous accomplishments and fix errors for the upcoming project. Don’t forget to enjoy the victory with the group! They are due it.

Benefits of project management

Project management provides a scalable method for planning, carrying out, and overseeing projects. The purpose of each project is clearly stated, workers’ roles and duties are specified, completion dates are determined, and a reporting structure is built to track and communicate progress towards attaining both the incremental targets and the overall objective.

These essential components of project management result in a number of advantages:

A greater chance of success.

The project’s goal and the measures needed to get there are both made explicit in project management.

Effectiveness.

The extensive preparation necessary for project management reduces hunches and erroneous beginnings. Additionally, project management makes use of repeatable procedures, eliminating the need to start from scratch with every new project.

Increased production and decreased expenditures.

These advantages are mostly attributable to the greater success rates and improved productivity that come from managing projects according to project management principles.

Excellent exposure of issues and progress.

Executive sponsors, project teams, and project managers are all aware of what has to be done when and whether those milestones are being accomplished owing to reporting.

More effective communication.

Everyone on the project team, including managers, executive sponsors, and other important players, is aware of what has to be done, when, and why.

More agreement between all parties involved.

In project management everyone is more likely to understand their role in a project workflow as a result of the precise project planning, better visibility, and improved communication.

Improved levels of cooperation.

In project management, tasks are scheduled to ensure that teams that must collaborate are available at the appropriate times.

Greater responsibility.

In project management roles and duties for each employee are precisely stated, and anticipated milestones are spelt out in advance.

More effective risk monitoring and reduction.

In project management to better monitor risks and respond to issues when they emerge, project managers are required to identify risks before a project and apply mitigations.

Constant development.

Project managers use the project management knowledge they have gained to guide their future work.

What is the role of project manager?

A project manager is a specialist in the project management field who is knowledgeable about how to apply project management practices and concepts to the planning and execution of projects.

It is the duty of project managers to ensure that projects are effectively finished through project management. They are expected to determine the activities required to accomplish the project, develop a timetable for carrying them out, and secure the resources required to complete the project on time, within budget, and with the desired results.

In a normal organisation, project managers are in charge of teams from several functional areas of project management who are required to collaborate throughout the project to achieve the intended aim. Strong leadership, interpersonal, and communication abilities are essential for project managers for effective project management.

Project managers are also required to handle project risks and difficulties by putting in place suitable controls and coming up with solutions for obstacles as they appear. Being an effective project manager also means being able to react quickly to changes and alter course when problems develop.

Within an organisation, there is a distinct job known as the project manager role. Even though such managers are project stakeholders, their roles are distinct from those of a business unit manager or functional manager.

Responsibilities of a project manager:

There are several phases involved in project management. The following are frequently included in these phases, despite the fact that the nomenclature varies:

establishing project objectives,
specifying the processes necessary to attain those objectives,
determining the resources needed to carry out those tasks;
estimating the cost and amount of time needed for each phase of the project as a whole;
directing the work’s actual implementation and completion; and
delivering the completed product.

Project managers employ controls as part of a solid project management strategy to evaluate performance and progress in relation to the planned schedule, budget, and goals. The project scope is another name for this.

Project Management knowledge areas

When carried out correctly, each of the project management procedures has a defined goal throughout the project life cycle and ensures the effective completion of projects.

Project scope management

The work that must be done to accomplish a project is referred to as the scope and is defined by a work breakdown structure during the planning phase. Scope management basically entails stating what will and won’t be done for each activity. This serves as the framework for task management, scheduling, and budgeting.

Project task management

Project management starts with meticulous preparation. Once the work breakdown structure is created, it is possible to identify each activity required to finish the project. Team members can then be given tasks to complete. It’s critical to comprehend task dependencies so that tasks may be organized according to the sequence in which they must be finished.

Project resource management

In order to successfully execute tasks and create deliverables, this process entails identifying, obtaining, and allocating resources including people, money, equipment, and materials. The resources required for each task may be calculated once the project scope has been established. The management of resource consumption is necessary for the project management as the project advances.

Project schedule management

Estimating, scheduling, and controlling are the three subprocesses that make up the schedule management process. Start by estimating how long each action, milestone, and deliverable will take. Create schedules based on those time estimations after that. Once the execution phase has started, keep a close eye on the project timeline.

Project risk management

The risk management process identifies potential project derailers and defines a reaction so that backup plans may be put in place.

Instead of minor initiatives, this is typically done on bigger ones. Even for small teams, it would be beneficial to hold a quick team meeting to discuss any possible issues with the plan in order to prepare for the unexpected and have a plan of action in place. There are many different hazards, but the ones that have an impact on the triple constraint are the most significant.

Project quality management

The stakeholders indicate their quality expectations for the project deliverables during the start phase. On the basis of this, project managers create a quality policy that outlines the quality assurance methods that will be followed.

Project stakeholder management

A project’s stakeholders are its heart and soul. Their requirements may be more readily addressed by comprehending their wants and keeping open lines of communication with them throughout the project’s lifespan.

Project cost management

Every phase of the project life cycle uses this method. Cost estimation, budget creation, and cost management are all involved. Create a budget to cover such costs after first assessing the cost related to each job. As soon as the execution phase starts, keep an eye on the project’s cost.

Project issue management

A risk is a concern that might impact the project. It is important to plan out how issue management will appear because something is likely to go wrong. Issue management is how problems are handled as they arise on the project.

The procedure will outline who has to be informed, how choices about what to do next should be made, and who has the power to act.

Project change management

Each project undergoes adjustments. Sometimes that’s because the goal wasn’t first articulated very clearly. Or perhaps the project has to be updated since the company’s business plan has changed. The project’s change management processes and forms must be included in a change management strategy.

Project procurement management

Working with suppliers is often necessary for projects, and there is often a procedure for engaging them and entering into a contract with them so that everyone is aware of what to anticipate and what they are receiving for their money.

Project communications

Communication is a process, of course! Determine who needs to hear the message when and the best means of communication. A communication strategy achieves this.

These are the most typical project management procedures, however teams might develop custom procedures in-house to address organisational specifics. The important thing is to avoid having to start from scratch each time and to include as much standardisation as possible into the project management practices of projects.

Project management methodologies

Different project management approaches may be used by project managers to effectively manage the five stages and reach a successful conclusion, depending on the industry, objectives, and stakeholder needs. Some of the most well-liked are as follows:

Agile

Agile is frequently utilised in software projects for project management, but it is becoming more popular in other project types, including marketing. It entails working iteratively in little intervals known as “sprints.” Before moving on to the next set of criteria, the team completes as much of the time-boxed work as they can.

The development of techniques like scrum, extreme programming, and crystal, among others, was based on the agile ideals.

Scrum

Scrum is a quick “sprint” project management methodology. It’s best suited for project management teams with no more than 10 members and frequently adheres to two-week cycles with brief daily meetings, or “scrum meetings,” as they are known. A person known as a Scrum master oversees it. Scrum utilises time boxes, interactive team interactions, a product backlog, and feedback loops while operating inside an agile framework.

Waterfall

The waterfall model of project management is a method of producing work that is linear. The project manager develops the requirements with input from the stakeholders, creates the design, constructs the solution, tests and deploys it, and finally takes it into the maintenance stage.

Lean

Since the rise of the Lean Startup movement, which encourages an iterative approach to product development and entails including end customers early and frequently for feedback on the project’s delivery, lean has evolved to signify a few different things. This is called lean project management.

Lean project management (LPM) has historically been a method for streamlining procedures and ensuring that all parties collaborate efficiently. By streamlining team transitions, downtime is eliminated. The practice of focusing solely on one project at a time is a typical aspect of lean working.

Kanban

A visual method of project management is known as kanban. By organising tasks on a Kanban board, where process and progress are visible to all participants, it controls workflow. Agile projects have utilised Kanban method of project management to schedule lean production because it reduces inefficiencies.

There are currently new applications for Kanban tools and Kanban processes due to the emergence of visual planning boards in modern softwares. Kanban boards are usually used by agile teams for software development backlog planning and storyboarding user stories.

Six sigma

By figuring out what isn’t working out properly in the project management plan and project, attempt of Six Sigma’s attempt is to increase quality. Six sigma uses quality management techniques, like using empirical statistics, and staff members who are specialists in the respective fields. Lean technique is being incorporated by Lean Six Sigma to get rid of waste.

It is a belief that success is mostly dependent on steadfast efforts to deliver consistent, foreseeable results. Processes may be defined and improved. The whole organisation, starting at the top, must contribute in order to ensure quality in a project.

Critical path method (CPM)

The work breakdown structure’s activities are all included in a model created using the critical path methodology of project management to determine the project’s job sequences and their length. With this knowledge, it is possible to identify the crucial tasks that must be finished without delay in order to maintain the project’s timeline as per project management schedule.

Critical chain project management (CCPM)

Project managers in critical chain project management (CCPM) concentrate on the resources they’ll use, including teams, tools, office space, etc., to execute the project. It is a less technical approach to project management that places more focus on resource balancing and flexibility than on task order or timing.

Critical chain project management (CCPM) may be used for projects in sectors including construction, software development, and tech research and development, as well as by both large and small businesses.

What are popular project management approaches?

Project management methodologies offer a collection of protocols, strategies, and instruments to manage and finish project operations. These methods of project management provide consistency, break down complexity, save money, and reduce risks. There are several tried-and-true methods for project management.

Phased project management approach

A phased method is the ideal choice for large, complex projects that must be finished in stages due to outside project limits. Every step in the phased project management approach technique passes from the beginning to the finish via all five process areas. The work completed in each step is assessed before being systematically moved on to the following phase.

The phased approach is also known as the traditional or waterfall model. It is the ideal choice for simple, limited jobs. The project’s size and complexity make it more complicated and dangerous.

Lean project management

The focus of lean project management is process improvement and waste reduction through the efficient use of resources (cash, time, and people). This project management approach incorporates extensive planning, attractive documentation, continual analysis, and routine process changes.

A project is considered lean if it follows the core lean concepts. The Deming Cycle (PDCA), Lean Six Sigma (DMEDI), Value Stream Mapping (VSM), and kanban methodology are examples of lean project management methodologies.

The majority of businesses use value stream mapping because it allows them to accurately and thoroughly visualise each step of the project.

Value stream mapping (VSM), a powerful, two-dimensional approach, is used to describe and direct a lean transition. It also gives businesses the ability to easily identify waste that impedes project development in addition to presenting individual lead times and cycle durations.

By seeing and understanding the visual flow of a project, organisations may reduce administrative processing times, eliminate lean waste, and consistently meet project timelines and goals.

Iterative and incremental project management

The iterative and incremental approach is a change-driven project management methodology that aims to manage change and reduce inherent project risks. For this project management approach, a large-scale, multi-company project with ambiguous requirements and a high level of risk is optimal. It is commonly used for software development.

Numerous project management methodologies, such as Agile project management and Extreme project management, were developed as a result of the incremental and iterative approach.

Critical chain project management

Critical chain project management (CCPM) enables project planning and management while taking into account resource (people, equipment, and other) limitations. It is based on the theory of constraints (TOC), which states that a chain is only as strong as its weakest link.

Project delays are avoided by CCPM by adding buffers to the built-in resource and project task dependencies.

PRINCE2 product based project management planning approach

Product-based planning is a structured approach to project management that lays greater emphasis on outputs and project deliverables (including intermediate products), in contrast to conventional strategies that concentrate more emphasis on activities and tasks.

Given that there are many fewer deliverables than tasks, they are considerably simpler to define and arrange rationally. PRINCE2 is the technique that employs this tactic the most frequently.

Process based project management

Process-based project management enables project managers to create, oversee, and improve projects that are consistent with an organization’s mission, vision, and core values. The success of all project activities and objectives leads to the achievement of the most important organisational goals.

Process-based project management is comprised of six steps:

Explaining the steps
Identification of process indicators
measurement of performance
adjusting one’s goals
preparing upgrades
implementing enhancements

OPM3 (Organisational Project Management Maturity Model) and CMMI (Capability Maturity Model Integration) are two of the most well-known process-based project management maturity models.

Project production management

To better comprehend and optimise project delivery, project production management (PPM), a strategic approach, integrates the ideas and concepts of operations science.

PPM is distinctive in that it predicts boundaries and establishes what can really be accomplished using real data from project operations. It aids in the creation of suitable control systems to reduce unpredictability.

Why do projects fail?

Any feasible endeavour is vulnerable to failure for one of the following five reasons:

Resource shortage – not enough resources to finish the project.
Having problems finishing the assignment on schedule due to a lack of time.
Lack of thorough documentation might result in results that are not what was intended.
Poorly managed stakeholder expectations lead to varied perceptions of quality, timeliness, and money due to project scope modifications that stakeholders are unable to agree upon.
Insufficient risk management – failing to identify the risk involved in each project might result in project failure.

Nobody starts a project with the intention of having it fail, yet the majority of initiatives fail because project managers fail to see the necessity of streamlining their project management processes.

Best practices in project management

As with every field, project management has both excellent and bad practises. There is no one-size-fits-all method for handling projects; each organisation has its own strategy. However, by implementing a solid project management strategy, organisations may boost the likelihood of project success.

Every organisation has a different perspective on what constitutes excellent practises. The idea of “best practises” might frequently change depending on the division or business unit. For this reason, an organisation should cultivate a project management mentality that covers the processes required to achieve your ultimate objective as well as how to obtain corporate sponsorship to guarantee your project’s success.

Consider the current state of the project management function within your organisation and set objectives for where you want it to go in the future.

Capturing project management in a gist

stating the justification for a project’s need;
identifying project needs, describing the deliverables’ quality, and calculating resources’ availability and timelines;
putting together a business case to support the investment;
obtaining money and corporate agreement;
overseeing and inspiring the project delivery team;
the creation and implementation of a project management plan;
the management of project risks, issues, and modifications;
the monitoring of project progress against plan;
the management of the project budget;
the upkeep of communications between stakeholders and the project organisation;
provider management;
where necessary, project closure in a regulated manner.

We can fairly agree on the part that project management is always going to be an ever-evolving profession. Project managers are expected to produce work on time, within budget, and within scope. To manage teams and projects, project managers require the appropriate tools in addition to a special skill set and a collaborative mentality.

History of project management

Up until 1900, innovative architects, engineers, and master builders such as Vitruvius (first century BC), Christopher Wren (1632–1723), Thomas Telford (1757–1834), and Isambard Kingdom Brunel (1806–1859) typically oversaw civil engineering projects directly.Organisations began methodically using project-management tools and practises on challenging engineering projects in the 1950s.

Project management emerged as a subject from a variety of application areas, such as major defence work, engineering, and civil building. Henry Gantt, known as the “father of planning and control techniques,” and Henri Fayol are two of the pioneers of project management. Henry Gantt is famous for using the Gantt chart (also known as the Harmonogram, first proposed by Karol Adamiecki) as a project management tool. Henri Fayol also developed the five management functions that serve as the cornerstone of the body of knowledge related to project and programme management. The scientific management theories of Frederick Winslow Taylor were studied by both Gantt and Fayol. His work served as a precursor to contemporary project management techniques including resource allocation and the work breakdown structure (WBS).

Modern project management as we know it now began in the 1950s, when fundamental technical disciplines began to cooperate. The engineering approach of management led to the development of project management as a distinct profession. Before the 1950s, projects were handled in the United States on an as-needed basis, mostly utilising Gantt charts and unofficial methods and equipment. Two mathematical project-scheduling models were created at that time. For managing plant maintenance projects, DuPont Corporation and Remington Rand Corporation collaborated to create the critical path method (CPM). The U.S. Navy Special Projects Office, in collaboration with Lockheed Corporation and Booz Allen Hamilton, created the programme evaluation and review technique (PERT) as part of the Polaris missile submarine programme.

Although PERT and CPM have fairly similar approaches, they nonetheless have certain variances. Projects that presume predictable activity times—where it is known when each activity will be completed—are employed CPM. PERT, on the other hand, allows for stochastic activity timings, in which the precise timing of each action is unknown or variable. CPM and PERT are employed in various circumstances due to their fundamental differences. Numerous private businesses immediately adopted these mathematical methodologies.

The technology for computing project cost estimates, cost management, and engineering economics was developing concurrently with the development of project-scheduling models, including ground-breaking work by Hans Lang and others. Early project management practitioners and experts in the related fields of planning and scheduling, cost estimating, and cost/schedule control (project control) established the Association for the Advancement of Cost Engineering); the American Association of Cost Engineers (now AACE International in 1956. In 2006, AACE developed the first integrated approach for portfolio, programme, and project management (complete cost management framework), continuing its pioneering work.

The Project Management Institute (PMI) was established in the USA in 1969. The first edition of A Guide to the Project Management Body of Knowledge (PMBOK Guide), which is published by PMI and mostly written by William Duncan, outlines project management procedures that are utilised by “most projects, most of the time.”

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