Project Management: Key Terminology and Processes to Guide Your Efforts
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Loading... - Jakov Saric
- 24 Jan 2023
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Project management is often regarded as a series of tasks designed to achieve a specific goal. To fully understand the breadth of project management, however, you must analyze your available resources, factor in personal and professional schedules, and establish budgetary constraints.
It’s natural to take stock of what you hope to achieve and where your existing projects are in their development lifecycle. But without an understanding of the skills and steps required to manage the ebbs and flows of a project, you could experience delays throughout the process, adding both time and money to your initial estimates.
Rather than being reactive, project management allows for planning and thorough evaluation before the project begins. Risk matrices and assessments help pinpoint problems before they become issues impacting multiple development phases. Likewise, identifying resources and initial cost and time estimates ensure you are prepared for things beyond your control, such as unexpected scheduling changes, staffing disruptions, or technical issues. Of course, catastrophic weather events or economic disruptions (such as the lumber shortage that halted housing construction during the COVID-19 pandemic) can happen no matter how much time you spend planning. But with proper project management, you can get your team back on track with minimal disruption. Read More…
