Due to the fact that projects happen within a complex dynamic (ever changing) environment, a dynamic approach to the management process of projects is required.
A project can be defined as follows:
A project by nature is temporary, unfamiliar and unique, i.e. it is the non-repetitive process of improving or producing something to add value or benefit (A new product, process or service), with a definite staring point, a set of activities employed according to distinct project phases, and applied to predefined objectives (goals) that clearly define the projects completion.
The aim is to achieve these objectives (Goals) according to specified performance criteria and within the time and budget constraints specified.
The need for and principal components of Project management:
Due to the unique nature of projects, project management serves to best combine resources from a diverse knowledge set and integrate these in the pursuit of a common goal. By applying management principles of Planning, organising, leading and control within a dynamic environment, a project manager can adapt (change) based on his knowledge acquired to react to problems he / she may face.
Planning: Project management seeks to define goals of the project and details the means of achieving these goals.
Organising: The correct (best available) resources (human and otherwise) must be acquired and organised into a organisational structure to work towards achieving goals. Policies, procedures, reporting and communication channels must be set up to ensure success.
Leading: Management seeks to motivate and influence resources to work together.
Control: Performance throughout the project life cycle must be evaluated and problems (risks) must be&nb ...