Project management can be referred to as a
process that involves many procedures of organizing, planning, analyzing,
controlling and preparing different aspects and protocols of a problem that
belongs to individuals or to companies in order to reach specific results set
by certain goals. It is also an approach which depends on specific
methodologies that work for planning the processes of a specific project from
its beginning to its end according to main goals. (Nicholas and Steyn, 2008) There
are stages that guide such processes of a project as initiation, setting a
plan, execution stage, control stage and the closing stage. This can be applied
to any type of different projects. Business project management can be defined
as an approach that tends to adapt the processes involved in a business project
on strategies and detail action plans that can achieve the business objectives.
The project dealt with by the business project management criteria must carry
change to the business organization and managing the business project must make
use of the available opportunities and be matched with the business statutory
requirements. (Nicholas and Steyn, 2008) A business project management must be
based on strategic implication to bring the most competitive advantage business
outcomes. Cost, time and quality are three main constraints included within any
business project management as they are called the project management triangle.
Cost management includes budgeting processes, making costs control, estimating
costs and planning the budget according to the project needs. Time management is
essential for making required analysis for the project as it includes all the
needed processes for planning and executing the project stages which are to be
timely completed. Time management includes scheduling the project according to
deadlines, logic, demands of customers and execution of the project stages.
Budgets need to be timely managed in order to avoid bloating of the project. Quality
is the degree that requirements of the project need to be achieved at according
to some certain required characteristics. Project quality management is the
activities that a business organization sets for defining quality measurements,
procedures and policies according to the project's needs. The three elements
are correlated and connected with each other as they all affect each other. (Stojcetovic,
2014) Project life cycle framework is considered the process that the project
depends on to coordinate the processes of the project life cycle as funding,
acquisition and the process of developing the system. (Bestpractices.osi.ca.gov,
2014).
References
1. Bestpractices.osi.ca.gov,
(2014). Best
Practices: Project Life Cycle Framework - State of California. [online] Available at:
http://www.bestpractices.osi.ca.gov/sysacq/projectlifecycle.shtml [Accessed 31
Dec. 2014].
2. Nicholas, J. and
Steyn, H. (2008). Project Management for Business, Engineering, and
Technology: Principles and Practice. Elsevier.
3. Stojcetovic, B.
(2014). Project
management: cost, time and quality. [online] Academia.edu. Available at:
http://www.academia.edu/7051956/Project_management_cost_time_and_quality
[Accessed 31 Dec. 2014].
