BUSINESS PROJECT MANAGEMENT

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].