To complete goals and achieve success, organisations require methodical and systematic plans. The process of conceptualising, planning, implementing, and reviewing the progress of any purpose or task is known as project management. Learning more about project management objectives and phases can help you become a more effective project manager. Join FITA Academy‘s PMP Training in Gurgaon to learn more about Project Management. It offers advanced certification training and 100% job placement assistance. In this blog, we will discuss What are the Key Objectives of Project Management.
What are the Objectives of Project Management?
Before delving into the objectives of project management, it’s an idea first to understand what a project is and why project management is essential. A project is a unique endeavour with well-defined goals, results, and outcomes. Organisations typically launch projects to achieve specific goals within a predetermined timeframe and budget. Client-facing organisations may have projects with each client and a separate team working on each project. Individuals and employees can also undertake personal projects with specific goals.
Project management applies professional expertise, resources, tools, and strategies to ensure the organisation meets project objectives as efficiently as possible. Project management typically focuses on a few core objectives and determines processes, budgets, and key performance indicators of success. Effective project management is usually the responsibility of the project manager or team leaders. Here are some key project management objectives:
Meeting all project goals successfully:
Management and organisation of resources, time, talent, and workflows are required to ensure the success of project goals. Planning and optimisation are critical components of project management.
Providing guidance and supervision to team members:
Project teams may require maintenance to complete tasks, change strategy, or maintain quality. Project management ensures a hierarchy and accountability structure allowing all team members guidance and support.
Facilitating communication and collaboration:
Communication and collaboration must be seamless for any project or team to succeed. Project management allows for regular meetings, discussions, feedback sessions, client approvals, and the exchange of ideas to ensure that all of them work towards the same goals and that no time or effort is wasted.
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Following all safety processes and protocols:
Specific projects, such as those in food processing plants or construction sites, may require strict adherence to safety protocols and processes. Such reviews and safety checks are accounted for in project management to ensure the quality and safety of team members and the end product.
Optimising budget and resources:
Project management is an attempt to use the available budget and resources best. This enables organisations to save money, maximise profits, and ensure no leaks in the system.
Reviewing and course-correcting timely:
During the implementation phase, all projects and plans require updates and changes. Project management ensures that assessments, quality checks, and reviews occur throughout the project implementation process, allowing changes to happen quickly, effectively, and without disruption.
Project management phases
The majority of project management processes fall into one of five distinct project life cycle phases:
Conception and initiation phase
This is the first stage in which the project’s idea and concept are developed. It usually entails setting goals, deciding on the scope, and finalising the project’s timeline. Typically, this process involves internal and external stakeholders aligning expectations and defining success criteria. In most cases, this stage entails asking a question, coming up with a solution, and attempting a new approach. This step may result in the creation of a project brief outlining the project’s purpose, goal, and requirements.
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Design and planning phase
This is one of the most crucial stages of the project. It entails defining processes, developing budgets, creating a timeline of individual milestones, and establishing safeguards for monitoring and evaluation. This stage determines general workflows, team roles and responsibilities, critical milestones, and monitoring methodologies, in addition to estimating various aspects of the budget. This stage involves the entire project team working on it so that everyone can contribute to the planning and understand their role.
Execution phase
The processes and actions begin at this point. These Project processes are carried out in accordance with the project plan and design, and each team member works on their assigned task in order to complete their responsibilities by the deadline. During this phase, the project manager typically supervises various aspects and functions, such as timeline, resource, change, quality, and communication management. The team puts the decisions and plans from the previous two stages into action in order to achieve the desired result.
Monitoring and controlling phase
The team reviews, monitors, and assesses progress at a predetermined point after the execution begins. Quality assurance tests or client feedback may also be required at this stage, depending on the project goals. The project’s various processes and tasks are validated to determine whether it is complete, successful, ongoing, or delayed. This step assists in identifying ineffective processes and strategies and replacing them to ensure the project is completed on time.
Closing and evaluation phase
The project is completed when all processes and activities are completed, and a closing assessment is performed. This determines the success of the goals, as well as the flaws and areas for improvement. The main goal of this stage is to evaluate the project’s and team members’ performance, as well as to discuss the project’s future phases, if any.
Conclusion
In this blog, we have discussed What are the Key Objectives of Project Management. To learn more about such concepts and become a project management expert, you can enrol in PMP Certification Training in Kochi, which provides the best Certification Training with Placement Support.
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