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PowerPoint Presentation Presented By: STUDENT’s NAME PROJECT MANAGEMENT Project Management Project Management is defined as the practice to initiate, plan, execute, monitor and control, and to close the work of a team to achieve project goals within time and budget. Effective Project Management requires application of skills, knowledge, methods and experience of the Project Manager to manage the tasks. Project Management A project manager, with the help of their team, is charged with multiple responsibilities that span the five project phases of a project life cycle (initiating, planning, executing, monitoring and closing). The project management phases intersect with 10 knowledge areas Project Management Processes, Methodologies & Knowledge Areas 9 Popular Project Management Methodologies Effective Project Management Project Management needs effective application of these Processes, Knowledge Areas and Methodologies for successful completion of a project. For this Project Manager must have: Clear Understanding of the Project Goals Promote Productive Collaboration Team Progress Monitoring Provide Motivation Project Management & Project Success/Failure Project managers play the lead role in planning, executing, monitoring, controlling and closing projects. They are accountable for the entire project scope, project team, resources, and the success or failure of the project. Effective project managers need more than technical know-how. The role also requires a number of non-technical skills, and it is these softer skills that often determine whether a project manager — and the project — will be a success. Project Management & Project Success/Failure Project managers must at least have these non-technical skills: Leadership Motivation Communication Organization Prioritization Problem-solving Adaptability. Project Management & Project Success/Failure An efficient project manager and effective proper management is the first step to project success. It takes careful planning, attention to detail and effective communication to make a project succeed. With vigilant management and a strong project closing, a company can consistently reach project success. Project Failure The reason of failure of any project can be attributed to the ineffective Project Management. Some of the reasons for project failure are following: Project scope is not defined properly Inability to accurately estimate time and effort for the project Inefficient detailing of project plans Failure to identify potential risks down the line Project Failure (Contd..) Project managers who lack necessary experience to carry out the project Not using formal project management methodologies and strategies Not creating a robust communication channels between team, stakeholders and customers Failure to track new requirements and changes in processes Project Management Principles The principles of project management are the fundamental rules that should be followed for the successful management of projects. The success/failure of any project depends upon how a project manager is using the project management principles throughout the project life cycle. Project management principles Project Management Principles Thank You