What is Project Management?

Project management is the structured approach to planning, executing, and overseeing tasks to achieve specific objectives within a defined timeframe and budget. It involves applying knowledge, skills, tools, and techniques to manage various elements such as scope, time, cost, quality, risk, and stakeholder expectations. A project typically goes through phases, including initiation, planning, execution, monitoring, and closure, ensuring that deliverables meet the required standards and business goals. Project managers play a crucial role in coordinating teams, allocating resources, mitigating risks, and ensuring smooth communication between stakeholders. Effective project management enhances efficiency, minimizes risks, and improves the chances of project success in industries ranging from construction and IT to healthcare and finance. Various methodologies, such as Agile, Waterfall, and hybrid approaches, offer structured ways to manage projects based on complexity and requirements. With organizations increasingly relying on project-based work, project management has become a critical discipline that drives innovation, strategic execution, and business growth.

PROJECT MANAGEMENT