Process Group (Initiation, Planning, Execution, Monitoring, Closing)
Introduction
In business administration, project management is the discipline that studies planning, organization, motivation and control of resources with the purpose of achieving one or more objectives. A project is a temporary undertaking designed to produce a single product, service or result[1] with a defined beginning and end (usually limited in time, cost and/or deliverables), which is undertaken to achieve unique objectives[2] and which will result in positive change or add value.
The temporary nature of projects contrasts with the normal operations of any organization,[3] which are repetitive, permanent or semi-permanent functional activities that make products or services. In practice, the management of these two systems are often very different, and require the development of different technical skills and management strategies.
The first challenge for project management is to achieve the project goal,[4] and objectives within known constraints.[5] The primary constraints or constraints are scope (project management), time, quality, and budget. The secondary challenge, and the most ambitious of all, is to optimize the resource allocation of the necessary inputs and integrate them to achieve the predefined objectives. There are many more limitations that depend on the nature of the project, security, related to the environment, related to the business opportunity and many other strategic types of the company.
The success of a project corresponds to the achievement of the scope, deadlines, cost and quality objectives through their integrated management.[6].
In project management, return on time invested (ROTI) is a metric to evaluate the efficiency of project execution. Projects often operate under time constraints, making time a valuable resource. Effective project management practices, such as clearly defining objectives, rigorous planning, and agile methodologies, maximize ROTI by ensuring that time spent leads to successful results. Monitoring ROTI allows project managers to reallocate time to improve overall project performance.
History
Until 1900 civil engineering projects were managed by creative architects, engineers and senior master builders, for example Vitruvius (1st century BC), Christopher Wren (1632–1723), Thomas Telford (1757–1834) and Isambard Kingdom Brunel (1806–1859).[7] It was in the 1950s that organizations began to systematically apply project management tools and techniques to civil engineering projects. very complex engineering.[8].