Project Management- A Step-By-Step Process

June 3, 2019 @ 6:08 AM By

Right from the colleges days, we are hearing about the importance of the project management but we know how to define a project in precise terms? A project is a task that has certain goals that need to be achieved after the completion of the project. Most of the corporate companies handle multiple projects at the very same time. However, many of them have to witness the failure as they certainly fail to do project management. This is the reason students are being forced to write an assignment with Project Management assignment help.

Project management is the key to market success as it helps you to stick to your budget and deadline. Running projects without it means leaving the future of your business into the hands of your employees and their will to work. But for such an important corporate process, the steps are quite muddy as project management can be anything from getting inputs from takeholders to increase the revenue margin. While project managers certainly hate to make the entire process complicated, we have come decided to describe the project management in five easy steps.

Project management in 5 easy steps

Project management for each and every
undertaking can be divided into 5 simple steps named:

•Conception and initiations

•Definition and planning

•Launch and execution

•Promise control

•Project compilation

If you are thinking about having a big push, then you need to set down a real deadline for your teammates. So, once done feel free to initiate with the below steps of management. 

Project Conception and Initiations


The very first step of project management is the conception and initiations. The director needs to settle down with the idea of the project to make sure they will be taking it further. The manager needs to conduct some research to highlight the entire process, then pitch the idea to the higher authority for approval.


In concise terms, at this stage, the manager gets a rough idea of how long it will take to complete the project and what will be cost occurring from the entire process. After that, the project will be taken to the decision-makers who will decide whether it worth to invest money on the project or not. If it worth, then the next step will be taken.


Project Definition and Planning


The second step of the project management is “definition and planning”. Once the project idea receives the green signal, it is time to define the scope schedule and overall cost of the project. This is often done by drawing out the plan, scope, and budget of the project. It is also significant to note down that items related to the project are subject to the market change. The order can be delayed and prices can rise so while planning managers need to consider predict the area of delays.


Launch and execution


The next step of project management is where planning begins to turn into action. This is the phase where actual work begins. You need to begin with the project meeting where you can discuss how the plan will be initiated. The meeting is vital as through this you will assign resources, tasks, and responsibilities to the team members.

Not only this, your team need to understand the idea including the risk and the deadline of the work.

That’s enough for the day the further steps and their complications will be defined in the next blog. Until then hire Management homework help from BookMyEssay.


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