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Project cycle management (PCM) is the process of planning, organizing, coordinating, and controlling a project effectively and efficiently throughout its phases, from planning through execution then completion and review to achieve pre-defined objectives or satisfying the project stakeholder by producing the right deliverable at the right time, cost and quality.
A phase-gate process (also referred to as a waterfall process) is a project management technique in which an initiative or project (e.g., new product development, software development, process improvement, business change) is divided into distinct stages or phases, separated by decision points (known as gates).
Analyzing progress compared to the baseline schedule is known as earned value management. [5] The inputs of the project planning phase 2 include the project charter and the concept proposal. The outputs of the project planning phase include the project requirements, the project schedule, and the project management plan. [6]
DMAIC or define, measure, analyze, improve and control [1] (pronounced dÉ™-MAY-ick) refers to a data-driven improvement cycle used for optimizing and stabilizing business processes and designs. The DMAIC improvement cycle is the core tool used to drive Six Sigma projects.
An example is the Phase–gate model. Project management relies on a wide variety of meetings to coordinate actions. For instance, there is the kick-off meeting, which broadly involves stakeholders at the project's initiation. Project meetings or project committees enable the project team to define and monitor action plans.
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.
Example from MIL-HDBK-881, which illustrates the first three levels of a typical aircraft system [1]. A work-breakdown structure (WBS) [2] in project management and systems engineering is a deliverable-oriented breakdown of a project into smaller components.
Since project schedules change on a regular basis, CPM allows continuous monitoring of the schedule, which allows the project manager to track the critical activities, and alerts the project manager to the possibility that non-critical activities may be delayed beyond their total float, thus creating a new critical path and delaying project ...
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