On the significance of Project and project management

A project is a temporary work done to create a unique product, service, or outcome. The project "temporary" means that the project has a clear starting point and end point. The project ends when the project goal is reached, or when the project is aborted because it is not or cannot reach the goal, or when the project requirements no longer exist. Temporary does not necessarily mean that the duration is short. The products, services or results created by the project are generally not temporary. Most projects are designed to create lasting results.

Each project will create a unique product, service or outcome. Although there may be duplicate elements in some project deliverables, this duplication does not change the nature of the project's work. For example, even if the same or similar materials are used, or built by the same team, the location of each office building is unique, along with different designs, different environments, different contractors, etc.

Ongoing work is often repeated according to the organization's existing procedures. By contrast, because of the uniqueness of the project, there may be uncertainty about the products, services or outcomes it creates. The project team is likely to be new to the task, which requires more careful planning than other routine work. In addition, projects can be done at all organizational levels, and one project may involve one person, one organizational unit, or multiple organizational units.

Projects can be created:

A product, can be a part of other products, can also be the end product itself;

A capability (such as a business function that supports production or distribution) that can be used to provide a service;

An outcome, such as a result or a document (such as the knowledge generated by a research project, that determines whether a trend exists or whether a new process is beneficial to society).

Examples of projects include (but are not limited to):

Develop a new product or service;

Change the structure, staffing, or style of an organization;

Develop or purchase a new or improved information system;

The construction of a building or infrastructure;

Implement a new set of business processes or procedures.

Project management is the application of knowledge, skills, tools and techniques to project activities to meet the requirements of the project. Project management is achieved through the rational application and integration of 42 project management processes. According to its logical relationship, these 42 processes can be categorized into 5 major process groups, namely: start-up, planning, execution, monitoring, finishing

Managing a project usually involves identifying requirements, dealing with stakeholder needs, concerns, and expectations when planning and executing projects, and balancing competing project constraints, including (but not limited to): scope, quality, schedule, budget, resources, risk. Specific projects will have specific constraints, the project manager needs to be concerned.

The relationship between these factors is that any change in one factor can affect at least one other factor. For example, shortening the duration usually requires an increase in the budget to add additional resources to accomplish the same amount of work in a relatively short period of time, and if the budget cannot be increased, only narrow the scope or reduce the quality so that the product can be delivered in a relatively short time with the same budget. Different stakeholders may have a different view of which factor is most important, making the problem more complex. Changing project requirements can lead to additional risks. To achieve project success, the project team must be able to properly analyze the project status and balance the project requirements.

As a result of possible changes, the project management plan needs to be repeatedly revised and progressively itemized throughout the project lifecycle. Progressive detail is the continuous improvement and refinement plan as information becomes more and more detailed and estimates more and more accurate. It enables the project management team to manage more intensively as the project progresses.