Project management is the process of initiating, planning, monitoring, and closing the work carried out by a team, ensuring that all project objectives are met within the constraints of scope, time, and cost. Before a project begins, a project manager (PM) is assigned to lead a team of skilled people from different departments. While carrying out the project is a group effort, the PM is typically accountable for its success or failure.

As the leader, the PM plans how the team will perform work on the project and achieve objectives. This individual prioritizes the project’s tasks in order of importance and value, dividing them into smaller, measurable pieces called work packages. The work packages are then allocated to team members with the appropriate skills to create the deliverables of the project. Because the PM spends a great deal of time communicating with the team, strong soft skills are essential for this role.

One of the major challenges a PM typically faces involves minimizing risks so that the project is completed on time and meets the planned budget. The PM achieves this by:

1. Closely monitoring the project’s progress.
2. Ensuring the team meets all milestones.
3. Looking out for variances.
4. Keeping the project on track.

To successfully complete a project, the PM must manage different knowledge areas. This includes:

• Integration Management: Developing the project management courses plan, initiation planning, and coordinating all aspects of the project
• Scope Management: Gathering project requirements and identifying the work required to complete the project and its deliverables
• Schedule Management: Evaluating the time required to complete all the tasks of the project and developing the project schedule
• Cost Management: Adding all the costs to complete the project and developing the project budget
• Quality Management: Setting the standards and criteria the project needs to fulfill
• Resource Management: Acquiring the human and material resources required to complete the project’s activities
• Communications Management: Fulfilling information needs and providing updates to the stakeholders about the project’s progress
• Stakeholders Management: Gaining the support of the people involved in the project and looking after their interests
• Risk Management: Evaluating the negative threats and positive opportunities the project can face during its life.
• Procurement Management: Purchasing goods and services from external vendors and suppliers.