Project Management In the era of continuous development of trade and Essay

Project Management In the era of continuous development of trade and commerce - Essay Example Speaking it more clearly, project management embodies the pathways as regards the resources and technological availability, constraints for the implementation of the project, feasibility of the project, intended steps to be undertaken for the effective implementation of the project, evaluation of the project and the maintenance activities of the project for giving it into effect. All the actions and pathways are followed in accordance with the project planning. The functions and program manifesto of a given project may vary in accordance with the scope of a project. are closely linked to the theory of management. Over the decades, project management has become a predominant consideration, as without the successful implementation of the project management, not a single project can be deemed successful. Hence, for the development initiatives and ensuring the organizational efficiencies as well as the performance capabilities successful project management is the sine qua non. ... roject management has become very important for the organisations as there is a close relationship between the project management and the operation of the organizational processes. The continuous and effective operation of project management help the organizations in exploring their potential benefits as well as devising the ways and means for developing their organizational performances and ultimately achieving the optimum success for the organisation(s). Thus, the organisations putting emphasis on the project management issues, undertake comprehensive action plans. Because; without effective project management initiatives, all the development initiatives would be meaningless. Henceforth, on the face of practical situation, the issue of project management has its mounting position in the fields of trade and development and in matters associated with such dealings. Project Management In implementing a project, following points should be given due importance. The whole life cycle of a project involves some key considerations which arte interrelated to each other. The relevant aspects included in the project management or project implementation are the scope of the project, time, and money and most importantly the resources of a given project. It is necessary to mention that due to the failure of any of the four ingredients, a project is sure to collapse or lose the efficacy or merit of it. Therefore, these aspects of the project management should be given the utmost importance, as they are much significant on the way of project implementation. The project management plan is conducted for achieving a clear-cut understanding of the scope, objectives, work breakdown structure, criteria and other related issues in discharging the functions of the project.