Vunela Learn (BETA) coming soon. Don't Miss Out! Be the first to know when we go live! Click here

The Basics of Project Management

Important factors to identify in project management

Projects take place in their own particular context. There are stand-alone projects, those that are part of a greater body of work, and many are just part of a series of projects. In many cases, a project team composed of different individuals are brought together to perform the project. All these are important factors that have to be identified and taken into consideration to ensure the successful completion of a project.

Take note that the level of detail required at the different stages of the project must be kept appropriate for the complexity and size of the project.

 

Defining Project Objectives

Projects are made mainly to achieve specific objectives and goals. The moment these objectives are fulfilled, the project will be disbanded. Most of the time, the work is handed over into normal operations. Thus, it’s important to any project that the objectives and goals are specifically defined, achievable, and measurable. Without any clear goals, any project will have an increased chance of failure.

After the objectives are well-established, these must be clearly communicated and agreed with all individuals involved, specifically the staff and stakeholders.

 

Knowing the Project’s Constraints

A constraint is anything that may limit or have a negative effect on a project. Some of the most common constraints faced by project managers are the scope of the project, funding, time, and available resources. As a project leader, it is vital that you have a clear understanding of what the possible constraints are to your project. This will give you an idea about the boundaries in which the project work should be completed.

When a project fails to honor or determine its constraints, it faces a significant risk of failure, which can be very costly for the business.

 

Lifecycle

All projects have a specific start and finish point. It is within this timeframe that all project objectives must be achieved or fulfilled. This is actually referred to as the project lifecycle. Although it often comes with a start and finish date, the lifecycle of a project may also be defined by resources such as a fixed amount of staff time or money available for the project.

The success of a project can be determined by its ability to achieve its objectives and goals, while at the same time honoring all its constraints.

 

Conclusion

As a project manager, it is important that you be aware of all the aspects of the project, from the time of its planning until its completion. There will be a lot of hurdles and challenges along the way, but for as long as you stick with the plan and make sure that no important aspect of project management is being taken for granted, the project should be a success.

More Stories
10 Signs You’re an Overthinker