Project Management and Its Objectives
Project management and its objectives include delivering project on time, within budget and to specifications. The project management is the discipline of planning, organizing, motivating and controlling resources to achieve specific goals. The main challenge of project management is to achieve project goals and objectives while keeping in mind the project scope, time, quality and cost.
Project management actually began in the early 1950s. The need for project management arise observing the benefit of organizing work within the project and critical need to co-ordinate across different departments and professionals.
- Human resources
- Stakeholder management
- Risk Management
PROJECT MANAGEMENT AND ITS OBJECTIVES
Effective project management and its objectives are specific. A specific objective increases the chances of leading to a specific outcome. Therefore objectives shouldn’t be vague, such as “to improve customer relations,” because they are not measurable. Objectives should show how successful a project has been, for example “to reduce customer complaints by 50%” would be a good objective. The measure can be, in some cases, a simple yes or no answer, for example, “did we reduce the number of customer complaints by 50%?”
While there may be one major project objective, in pursuing it there may be interim project objectives. In lots of instances, project teams are tasked with achieving a series of objectives in pursuit of the final objective. In many cases, teams can only proceed in a stair step fashion to achieve the desired outcome. If they were to proceed in any other manner, they may not be able to develop the skills or insights along the way that will enable them to progress in a productive manner.
Project Success Objectives can be categorized into three:
1. Performance and Quality
The end result of a project must fit the purpose for which it was intended. At one time, quality was seen as the responsibility of the quality control department. In more recent years the concept of total quality management has come to the fore, with the responsibility for quality shared by all staff from top management downwards.
The project must be completed without exceeding the authorised expenditure. Financial sources are not always inexhaustible and a project might be abandoned altogether if funds run out before completion. If that was to happen, the money and effort invested in the project would be forfeited and written off. In extreme cases the project contractor could face ruin. There are many projects where there is no direct profit motive, however it is still important to pay proper attention to the cost budgets, and financial management remains essential.
3. Time to Completion
Actual progress has to match or beat planned progress. All significant stages of the project must take place no later than their specified dates, to result in total completion on or before the planned finish date. The timescale objective is extremely important because late completion of a project is not very likely to please the project purchaser or the sponsor.
NOTE: Project management has developed over the years, and involves various activities before a project is completed. Objectives should be specific so they are measurable, and although there may be one major project objective, there may be minor objectives throughout the project.