What is Project Management?

Project Management is the structured process of planning, organizing, executing, and monitoring tasks to achieve specific goals within defined time, cost, and quality constraints. It ensures that resources are effectively utilized, risks are managed, and stakeholders’ expectations are met.

Core Stages of Project Management

Initiation

Defining the project objectives, scope, and stakeholders.

Planning

Outlining tasks, schedules, budgets, and risk management strategies.

Execution

Coordinating people and resources to carry out the plan.

Monitoring & Control

Tracking progress, addressing challenges, and making adjustments.

Closure

Delivering outcomes, evaluating performance, and documenting lessons learned.

Key Benefits

  • Improves efficiency and focus
  • Ensures accountability and clear responsibilities
  • Minimizes risks and cost overruns
  • Enhances stakeholder satisfaction

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