Project management is a systematic approach to plan, oversee, and execute any project from start to finish. Effective project management allows you to utilize available resources to achieve specific goals within specified timelines and budgets. It ensures that project outcomes follow a certain standard and involves communicating, coordinating, and tracking multiple tasks, functions, and departments to achieve strategic objectives.
There are essentially five steps in the project management lifecycle: Initiation, Planning, Execution, Monitoring and controlling, and Closing
A detailed plan is developed in the planning stage to oversee project execution, including scope, timelines, goals, budget, milestones, and important information for the project team.
Project managers need to monitor tasks, ensure timely completion, and mitigate risks to keep projects on track within the planned milestones and budget.
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