AN OUTLOOK ON PROJECT MANAGEMENT

TECHNIQUES
Ever since the business sector has evolved as a major boost in
the economy, management has always been a core aspect of it.
Moreover, due to the increasing competition in the internal as
well as external business environments, it is necessary to follow
an organized management technique. Management helps in
planning, organizing, directing, and controlling the activities
and resources of the trade or company to achieve its goals
effectively and efficiently. From here arises the idea of different
Project Management Techniques. These techniques make
managing projects easier and effective whereas, they can be
applied to any project, regardless of the sector or industry.

Ever wondered why project management is necessary?

Although it may sound easier, it tends to be a daunting task
and a multi-faceted affair. Now here are a few reasons as to
why project management is essential:

  It gives you a clear perspective of where to focus to get

the desired outcome. On the contrary, if the team starts
working on the project without prior planning it might end
up with a lot of confusion and chaos.

 Having a realistic approach during the execution of the

project is necessary as it takes into consideration all the
objectives of that particular project.

 Now that when you start working on a project, it's very

obvious that you undergo enormous pressure since you
have to stick to the project guidelines, deadlines, budgets,
standards, and quality control. Here project management
helps you to overcome such pressure of whatever is being
delivered.

Forthwith, to carry out such a vital task you require some tools
and techniques for project management which will help in
proper project planning, minimizing risk, effective utilization of
resources and easy project monitoring. These tools and
techniques help you with planning or scheduling, collaborating,

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documentation and evaluation of the ongoing project. Here's a
list of some of the tools which play an important role in
delivering an upmarket project :

 GANTT CHART - It simply consists of a bar chart that

shows the interrelationship between activities. It was used
for the first time in 1931 on America's Hoover Dam
Project. Since it is an older version it is simple to interpret.

 PERT (PROJECT EVALUATION AND REVIEW

TECHNIQUE): It is widely used by both industries and
government. It allows to identify the path through the
network for which the total activity times are the greatest.
The early start, late start and slack of each activity is
easily recognizable. Huge amounts of information can be
simply arranged into a diagram and is easily understood.

 CPM (CRITICAL PATH METHOD): This is a

mathematically based form of scheduling project
activities. It applies to all forms of projects from
construction, telecommunication, aeronautics, etc. Critical
activities can be determined and prioritized for easy and
effective management.

 WBS (WORK BREAKDOWN STRUCTURE): It is the

hierarchical decomposition of the work to be executed by
the project team to complete the project objectives. It is
somewhat similar to a flowchart that has its components
linked logically.

Project management is itself a basis on which a construction

project is made possible. Construction project management
takes into account a lot of factors including execution,
procurement, client briefing, designing, HR management,
strategic management, contract agreements and scheduling,
time, cost and quality planning which is nothing but a
systematic execution of a project.