The Project Management Institute (PMI) has established a guide for managing projects called the Project Management Body of Knowledge or PMBOK (called as 'pim bock'). PMI has defined in the PMBOK, the following fundamental areas a project manager should address during the course of a project.
- Project Integration Management:- All projects are meant to address some business need. From the beginning till the end of the project, a Project Manager has several people working on a variety of things, often at the same time and only occasionally together. The Project has to bring all this work together in a coherent way. When the project is completed successfully, the product or service produced by the project needs to be integreted into the company's ongoing operations which involve Planning, Execution and Changes, if needed.
Project Scope Management:- Managing the scope of the project is extremely important as one of the leading causes of project failure is when the project keeps getting bigger, complex and shifting gradually. It is a good practice to write a clear, definite scope statement and to have sponspor and key customers review it. Project Manager has to define the scope in great detail as he plans for all the tasks that need to be completed to finish the project.
Project Time Management:- Of the three elements - Time, Cost & Quality - project manager should have good control over time. Simply put, Project Manager has manage time during a project if he develops an accurate schedule and manages the project to that schedule.
Most Project Managers use a baseline schedule as a way to manage the time. By comparing the way the schedule is progression versus the baseline schedule, the Project Manager can see the trends and make course corrections before things get out of hand.
Project Cost Management:- Project Manager are always asked to report on how much money he is spending to complete the project. Sometimes the Project Manager can't control all the factors that influence the project. He should build a contingency fund into the budget, but he has to be very careful as asking for money is never a fun.
Project Quality Management:- Quality is a key component in any project. There are projects that were completed but the results were disappointing due to inferior quality. Project Manager has to determine the Quality Objectives, Quality Assurance & Corrective Actions required to develop good quality plan.
Project Human Resource Management:- Even in smaller projects, managing human resources over the course of the project is one of the most important aspects of a successful project which demands organisational planning, staff acquisition & building a committed team for the project.
Project Communications Management:- Communication is one of the key factors in all projects. If strong communication is evident, project manager can be sure that success will follow.
Project Risk Management:- In handling risk, Project Manager must think about what may go wrong during a project and develop a strategy to either prevent it from happening at all or reduce the negative impact on the project if it does happen.
Project Procurement Management:- Almost all projects need to buy goods or services from outside the company. As Project Manager plans the project, he has to undertake cost-benefit analysis of the options available and decides which one makes sense in the light of budget and schedule.
