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The main purpose is to plan time, cost, and resources adequately to estimate the work needed and to effectively manage risk during project execution. As with the Initiation process group, a failure to adequately plan greatly reduces the project's chances of successfully accomplishing its goals. Project planning generally consists of [40]
The project execution is the process of completing the tasks defined in the project plan. The purpose of project monitoring and control is to keep the team and management up to date on the project's progress. If the project deviates from the plan, then the project manager can take action to correct the problem.
The term process management usually refers to the management of engineering processes and project management processes where a process is a collection of related, structured tasks that produce a specific service or product to address a certain goal for a particular organization, actor or set of actors.
3. Better Productivity. Project management is important because it ensures there’s a proper plan that outlines a clear focus and objectives to allow the team to execute on strategic goals.
In project management it is a method comparable to PRINCE2 and describes methods for project management as well as methods for system development. The V-model, while rigid in process, can be very flexible in application, especially as it pertains to the scope outside of the realm of the System Development Lifecycle normal parameters.
Project management office: The Project management office in a business or professional enterprise is the department or group that defines and maintains the standards of process, generally related to project management, within the organization. The PMO strives to standardize and introduce economies of repetition in the execution of projects.
A project plan, according to the Project Management Body of Knowledge (PMBOK), is: "...a formal, approved document used to guide both project execution and project control. The primary uses of the project plan are to document planning assumptions and decisions, facilitate communication among project stakeholders , and document approved scope ...
Project management office –: The Project management office in a business or professional enterprise is the department or group that defines and maintains the standards of process, generally related to project management, within the organization. The PMO strives to standardize and introduce economies of repetition in the execution of projects.
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