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According to the Project Management Institute (PMI), Project Management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. It’s the practice of planning, organizing, and executing the tasks needed to turn a brilliant idea into a tangible product, service, or deliverable.
Project have the following phases:
- Initiation
- Planning
- Execution
- Monitoring
- Closure
In addition to these phases, all projects revolve around 10 knowledge/management areas, that include:
- Integration
- Scope
- Time
- Cost
- Quality
- Resource
- Communications
- Risk
- Procurement
- Stakeholder
When I attended Graduate School from 1979-1981 for my MBA, all the courses revolved around a concept called PRODUCT MANAGEMENT with the understanding that our professors were teaching us to be PROFESSIONAL MANAGERS.
In other words, we could, after graduation, be in a position to manage any company whether it be retail, manufacturing, transportation, government, non-profit, or investment banking.
Over the years, product management became project management, and the PMI was created along with the Project Management Body of Knowledge (PMBOK).
It is now possible to become certified as a Project Management Professional (PMP). The PMP certificate in some cases is better than an MBA providing project management is the career direction in which you want to head.
It is also possible to sit for the PMP exam without having a FOUR YEAR COLLEGE DEGREE.
Future posts will explore in more detail the phases of a project as well as the knowledge areas with which a PM must become familiar.
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