Question: What Are The Basics Of Project Management?

What are the three main elements of project management?

The triple constraint theory, also called the Iron Triangle in project management, defines the three elements (and their variations) as follows:Scope, time, budget.Scope, schedule, cost.Good, fast, cheap..

What is the 50/50 rule in project management?

A related rule is called the 50/50 rule, which means 50% credit is earned when an element of work is started, and the remaining 50% is earned upon completion.

What are the 9 knowledge areas of project management?

PMBoK Knowledge Areas: 9 Must Know Aspects Related to PMProject Integration Management. … Project Scope Management. … Project Time Management. … Project Cost Management. … Project Quality Management. … Project Human Resource Management. … Project Communication Management. … Project Risk Management.More items…•

What are the 5 process groups?

There are 5 phases to the project life cycle (also called the 5 process groups)—initiating, planning, executing, monitoring/controlling, and closing. Each of these project phases represents a group of interrelated processes that must take place.

What are the four characteristics of a project?

There are several important characteristics of any project that will help to determine where on the SDLC continuum a project is best located. For this post, I will discuss what I consider to be the four most important: complexity, reoccurrence, predictability, and plannability.

What are the key elements of project management?

The 8 Key Elements of Effective Project PlanningSmart Project Objectives. … Clear Deliverables and Deadlines. … A Detailed Project Schedule. … Defined Roles and Responsibilities. … Project Costs That Help Identify Shortfalls. … A Communication Plan That Keeps the Project Moving Forward.More items…

What are the 10 knowledge areas of project management?

The knowledge areas are the core technical subject matter, which are necessary for effective project management.Project Integration Management. … Project Scope Management. … Project Time Management. … Project Cost Management. … Project Quality Management. … Project Human Resource Management. … Project Communications Management.More items…•

What are the five essential elements of project management?

In order to ensure that all your projects reach the required level of success, here are the 5 essential elements that need to be included:Strategic Planning. The first stage of any project is to understand the need for the project and what it is trying to achieve. … Product Development. … Communication. … Resources. … People.

What are the five stages of project management?

Developed by the Project Management Institute (PMI), the five phases of project management include conception and initiation, planning, execution, performance/monitoring, and project close.

What are the six phases of project management?

These include preparing handbooks, training the end users, setting up support team, writing project report, evaluating the project, transferring to the concerned team and dismantling the project. The six-phase model is designed on the rule – ‘think before you act’.

What are project management tools?

Project management tools are aids to assist an individual or team to effectively organize work and manage projects and tasks. The term usually refers to project management software you can purchase online or even use for free.

What are basic project management skills?

What Are Project Management Skills?Planning the project from conception to implementation.Mapping out a timeline.Executing each phase.Creating, allocating, and managing the budget.Communicating among all stakeholders.Troubleshooting any issues.Delivering (and often maintaining) the end product or service.

What is project life cycle?

What is a Project Life Cycle? The project life cycle is a 4-step framework designed to help project managers guide their projects successfully from start to finish. The purpose of the project life cycle is to create an easy to follow framework to guide projects.

What are the most important skills of a project manager?

Five Essential Project Management SkillsCommunication. One of the most important skills for project managers is great communication. … Time Management. The ability to manage time and prioritize tasks is an essential characteristic of efficient project managers. … Organizational Awareness. … Problem Solving. … Leadership.