Fundamentals of Project ! Understanding of Project

Fundamentals of Project 

These days project management is required to develop a systematic approach in implementing project phases from their inception, planning and engineering stages to the final commissioning. Successful project management has several significant characteristics.

Introduction

A project is a set of tasks that must be completed within a defined timeline to accomplish a specific set of goals. These tasks are completed by a group of people known as the project team, which is led by a project manager, who oversees the planning, scheduling, tracking and successful completion of projects

To understand the value of project management, it is necessary to understand the fundamental nature of a project; the core characteristics of project management processes such as success evaluation; the roles, responsibilities, activities of a project management team and expertise with methodology in the execution of projects. The fundamental nature of any project is that it is a “temporary endeavour undertaken to create a unique product, service or result”. Technically, a project is an activity that has defined tasks or objectives and goes through the following phases for planned or successful completion:

• Feasibility & concept study

• Engineering phase

• Procurement phase

• Implementation or construction or execution phase

• Any specific Research and Developments activities during all the phases of    the project for improvement

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Purpose and Scope of a Project

The project purpose always clearly indicates the goals and objectives of the project. While defining the project goals and objectives, the following fundamental requirements must keep in mind.

• Clear and defined objectives are necessary and the aim to achieve the same objectives.

• Objectives should be reasonable, achievable and most important, should be measurable.

• Sponsors and other stakeholders should understand and agree to the project.

The understanding of project is very critical and this allows team members to clear their concept to act accordingly.

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Regards,

eFunda Team.