What is a Project in Project Management?
In any organization managing a project and producing results is one of the primary goals. A project can be anything from building a house to creating new software. To successfully create a project, one must carefully plan and execute all the steps.
Project management is the process of managing all tasks required to complete the project. It all lies in the hands of the project manager or the project management team.
Due to the advancements in technology, we now have project management software to handle difficult tasks. In this blog, we will learn more about what a project is and how project management tools help make any project a success.
What is a Project?
We can define a project in many ways. In simple terms, a project requires the completion of many sequential tasks to achieve a specific goal. A project can be something very small or something extremely complex. To achieve better results from a project, a project manager breaks the project into many small tasks. These tasks are then arranged in a well-defined sequence.
Every project requires resources for its execution. The managing team must take into account the availability of resources before planning a project. Here, resources also include time. Time constraint is one of the most important aspects of a project.
Because time determines the value of a project. For instance, if a mobile that has the features of a mobile released in 2018, it is for sure lacking. Because people would not invest in something that is not released in its time. So time management is everything when it comes to a project.
Thus a project is an organized execution of a pre-defined set of tasks within the available resources and the available time.
Characteristics of a Project
There are several characteristics of a project. Let us discuss each of them in detail.
1. Objectives
A project is bound to have a set of goals and objectives. A project is complete only after the successful completion of the objectives. For example, a racing car isn’t complete if it doesn’t have a rear wing. So unless and until it has a rear wing attached, the project is incomplete.
2. Lifecycle
Every project must have a set of stages executed in a certain order. This is the lifecycle of a project. The following are the common stages in the lifecycle of a project:
- Conception stage: The conceiving of ideas takes part in this stage. The project manager uses these formulated ideas to execute a project throughout its lifecycle.
- Design stage: This stage covers all areas of the project, even the minuscule ones. Detailed designs of every aspect of the project take place.
- Implementation stage: This stage comprises the execution of the said project ideas.
- Commissioning stage: This stage is the indicator of the end of a project lifecycle. This is the final stage that produces the complete project.
3. Time limit
It is not considered a project if it doesn’t have a time limit. A project’s scope might not have a definite time, but a project’s lifecycle has a time constraint. Even the delegated tasks have deadlines. This ensures the completion of the entire project on time.
4. Uniqueness
You might think that not every project is unique. But that’s not the case. The construction of houses may seem like the same project, but the team must face different risks when constructing different houses. So every project is different. It may be the time involved or the resources required; no project is like the other.
5. Optimality
Even the most experienced project managers make the mistake of underestimating the required resources. So a project demands the best use of all resources available. This is one of the important aspects of a project since the optimum use of resources reduces wastage of costs.
These are some of the characteristics found in a project. Next, let us talk about project management and how a project management tool can help you grow your business.
Definition of Project Management
Project management is the process of laying out a plan to execute a project and achieve the best results. Project management helps rank the risks and find better alternatives.
A well-made project management strategy ensures that nothing falls apart. It also plays an important role in reminding the major goals and deadlines to the team. It also keeps the motivation stable throughout the project.
Depending on the project’s size and the organization, either a project manager or a project management team supervises a project. The following are the steps involved in project management:
1. Initiation: This stage is the first step, and it involves documentation, assembling the project team, project office establishment.
2. Planning: In any project, planning is one of the crucial elements. It describes everything that needs to take place in a project. It involves the following:
- Tasklist management
- Managing finances
- Risk management
- Project timeline creation
- Setting up a communication plan
- Task allocation
3. Execution: This phase executes the activities laid out in the planning phase. This, in no doubt, involves constant support and management from the management team.
4. Closure: This is the final stage that involves transferring the deliverables and all paperwork. The project manager frees the team of their responsibilities towards the project in this phase.
Best Project Management Software
As you can see, project management, when done properly yields desirable results. Since this directly involves the project’s success, opting for an advanced project management tool is the best option.
Several business giants currently use project management software to efficiently manage their projects. They increase productivity by managing and assigning the scheduled tasks through software. This gives time for the managing team to focus on vital tasks that demand human intervention.
There are many project management software out there. But choosing the right software is of utmost importance. Your project’s success depends on it. When looking for a project management tool, ensure that it has the following key aspects:
1. Tasklist management:
Managing multiple tasks at the same time can be tiresome. A project management tool can effectively reduce the time spent on assigning and managing tasks. It enables us to create task lists, assign them to the right person, and create a smooth workflow.
2. Scheduling of tasks:
Since time constraint is important for a project, the project management tool lets you assign deadlines. By the use of a project management tool, you can assign deadlines to every small task. By creating deadlines, the project gets completed on time and serves as a motivation for the team to work.
3. File sharing:
File sharing in a project management tool serves as an ideal platform for sharing and exchanging data. During a project, files are constantly shared between the team. If there is no way of easy file sharing, we would have to resort to emails with no options for data sharing history. By using a common file sharing platform, you can ensure accountability and increase file mobility.
4. Communication:
Communication is the key to successful project management. Without a proper communication channel, it is impossible to regularly update project details. ‘Chatbox’ in a project management tool is an easy and modern way of communication. This enables collaboration, which is a major plus to the project’s success rate.
5. Monitoring, Control, and Reporting:
The project management tool can track the tasks and report the team’s performance. So a team evaluation doesn’t need long hours of performance checks. The project management tool gathers data needed for creating a report with a single click for the final retrospective.
Why PeppyBiz?
PeppyBiz is one of the leading organizations to provide software solutions to all your business problems. We specialize in project management software that comes with all the features mentioned above and much more. Our project management tool has the following features:
- Self-management of projects through Kanban boards
- Keeping a check on project progress
- Visualization of the project timeline
- Task allocation
- Project accountability
- Integration with other platforms
Conclusion
You have learned what a project is, what project management is, and the project management tool by reading this blog. To grow your business, you need to adapt to the constantly evolving technology. You must let go of the conventional ways and resort to much effective automated ways. Thus, project management software helps you save time and helps in visualizing each step of the process.
PeppyBiz has a plethora of options for you to choose from. You can have software that does both project management and performance evaluation. We provide many software numbers that can help grow your business and make your mark on this world. Want to know more about what we can offer? Check our product page or Schedule a free demo today!
