As Project Management evolves a new set of issues is demanding attention Project Management:Project Management is a vast term implemented in various

projects, for successful completion. It is an art as well as science to organising & managing people,materials, machinery & money to complete the assigned project work in time,cost and quality constraints with specified technical performance standards . The project mission is accomplished within complex project environment, by putting together human & non human resources into a temporary organization, headed or leaded by a project manager .Term Management indicates the ability to get work done in proper way within time and cost constraints. Time Management, Life Management, Stress Management , are very useful aspects of our day to day life. We try to overcome difficulties and achieve success in various ways by managing number of things in proper way. Management of project is not a new term; it was in use from the ancient time from the early age of hu man life development. In most of the Ancient and Famous civilization works it was used for Construction, battle, Research etc. Construction of Tajmahal, Great Wall of China, Castles, Pyramids, etc. Have been built with ingenious materials and a team of mil lions of workers for long duration, indicates that project Management was used in those days . But the only thing was the importance of the proj ect management was not analysed in those days. The notion of discussion is not based on comparison between old an d new ways of project management.Conventional methods used in project management had given best results.But as new business paradigms come into play,implementation of well developed and standard methodology like Project Management is necessary to fit in ne w business strategy.[SBL] Baseline for project management was different in various decades, in 1980s more emphasize were given on quality, in 1990 on globalisation, and in 2000 on Velocity due to vast development and demand of infrastructure.

Project:There are number of projects for which management is crucial for timely completion. Projects are the group of activities which are designed, analysed, executed and commissioned with start and finished point. The common goal is achieved by a team under the proper guidance of project manager in time, cost, and quality constraints. Project cannot be converted in successful completion by any Magic, but proper implementation of resources and techniques makes it successful. As any project is a complex, non- routine, unique, and huge investment is involved, its overall success is mainly depends on project management team. Demanding Issues: Project management is very popular subject in Industrial as well in business related studies.It involves number of issues which attracts the experts as well as professionals from various sectors .Issues like Organisation,Leadership &

Motivation, Project planning,Risk management,Negotiation,Cost time analysis. These are the main pillars of the project management.Proper analysin g of tehese issues will lead to succecc factor for any project.  Organization: It is a system through which force of man, material, machinery and money are brought together in an orderly way to turn out the product or finished goods at a profit. It can also be defined as identifiable group of people contributing their efforts towards attainment or achievement of common goals. Following are some of the characteristics of any organization: 1. Self identification or brand establishment through advertisement of p roducts. 2. The members of organization work as team member. 3. Organizations are essentially cooperative enterprises, in the sense that, they represent coordinate efforts of many individuals. 4. The existence of a group is another main character. 5. The goal and objectives are immediately connected with the organization. 6. The objectives give a sense of unity and direction to the member of organism

Structure of an organization:

Top management Middle management

Lower management.

Workers.
Top managementPresident, Managing Director, Project Manager

Middle management Departmental manager, Executive Directors, Dy. Managers. Lower management - - Junior engineer,Draftsman,Supervisor Workers --- Foremen, Workers, Security personnel,.
Necessity of an organization:

1. When production is carried out an a very large scale, it is not possible for a single person alone carry out all the functions & operations by himself. He has to delegate some of his functions to others. Naturally he has to supervise & coordinate the work. 2. As the production process, become more & more complex. It is necessary for the management to employ experts & specialist in different fields. 3. Because of large scale production & competition in the market, organization has to look in the existence of the organization 4. To maintain discipline in all the members of organization and to improve quality of the product to gain more and more business 5. To reduce wastage of manpower,materials,machinery,money and time
Essentials of an organization They are based on following principles:

1. Division of work The main department in any large organization can be divided into following groups or departments a. Secretarial/administrative department i. Time office ii. Labour office iii. Account department. b. Service department i.Design, drawing, estimate of drawing. ii.Other services. iii.Inspection & quality control. c. Manufacturing/production/executing department i.Executing/ production/ Manufacturing ii.Planning iii.Progress. d. Commercial department

i.Purchase ii.Sales/marketing iii.After sales services. e. Personal department/Human resources development i.Recruitment, promotion, retirement or retrenchment ii.Training iii.Labour relations or unions etc. iv.Public relation v.Liaison with government & other outside/external agencies. 2. Sources of authority. i. Decision making ii. Delivering order iii. Maintaining discipline 3. Relationship. i. ii. Maintaining Relation ship with Government agencies,suppliers,contractors,Lenders,customers. Developing and improving company goodwill in market.

Types of organization structure: 1. Line organization Owner _________|__________ | | Site engineer 1 Site engineer 2 _______|__________ | | Site supervisor 1 Site supervisor 2 | Workers, clerks, operators. This is the type of organization structure & is suitable for small organization. It is also known as military type organization. This type is based on relative authority & responsibility. Immediate superior is th e one who gives orders to his subordinates, assign duties, dismisses & takes action against defaulters. Advantages: 1) This type is easy to understand, control & strict in discipline. 2) Delay can be avoided in communication & orders. 3) Responsibility of job can be fixed on an individual worker. As a result each worker can take full interest in the work.

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1) This system provides specific knowledge & guidance for each workman through expert advice & supervision. 2) The division of work is planning to achieve greater efficiency. 3) The functional heads are relived from routine duties & hence can get more time to think & plan about improvement & modernization. 4) Labour work is separated from mental or intellectual work. 5) Such organization can take up more specialized jobs. 6) Functional; efficiency of each work is high & it naturally develops sense of responsibility. Disadvantages: 1) The system cannot maintain strict discipline as each supervisor or foreman receives different instructions from different experts. 2) Separation of mental work from manual work leads to some kind of monotony. This is specially true in case of the workers of lower levels. 3) If there is no proper coordination among different departments then there is communication gap & delayed in progress of each work leading to increase in project cost. 4) Sometimes it creates friction in different departments. 5) Every time the lower level workers require written instructions leading to wastage of stationary. 6) Also the payments of expert & specialized are more.

3. Line and staff organization This type of organization structure is a combination of about two types and is normally observe almost in all big organization and companies. The upper part of organization or staff part is not rigorously engaged in day to d ay routine works hence they can think and plan for future and development of the organization. The lower half of the organization is engaged in the day to day fortune production work. Still these people have chances of promotions to upper part.The speciali st and experts work as staff officers and advisors.

Advantages 1. Compared with the size of organization, the number of specialist is reduced hence the organization becomes economical. 2. the effective co-ordination of functional heads and supervisory staff is achieved 3. Specialists are meeting to think about the improvements and increase profits by carrying research.

4. Shrinking of responsibility is not possible at any level. 5. this type avoids confusion and friction that may prevail in functional organization Disadvantages 1. The prestige of line execution is suffered as the work is planned in advanced and many decisions are already taken this hampers his authority. 2. To establish the exact relationship between l ine and staff is difficult and never be cleared defined.

 Leadership and Motivation for the project team Leadership can be define as that function or characteristic of human being which binds a group of a people together and motivating its activities i n an organized manner. A site engineer or a manager as a leader, directs guides and influences the workers and offer subordinates in attaining definite goal.

Characteristics/Qualities of good leadership : -

1. Intelligence or intellectual level of the tender must be above average of the group. 2. Posses technical background and sound education; with sound judgement. 3. Acquire /posses the art of effective communication with his subordinates. 4. Able to take quick and sound decision. 5. Must have sense of responsibility and accountability. 6. Capability to guide and teach the subordinates. 7. Must have good physical energy.(physical fitness) 8. Encourage teamwork and unity in the team members. 9. Analyse group functioning as member of a family. 10. Impartial.

Motivation: One of the important aspects of management of an organization is to motivate the subordinates to achieve the goal. Motivation means inspiring people to intensity there desire (concentrate) and make them willing to execute their duties effective and also to co-operate fulfilling common objectives.Motivation thus, produces will to achieve and will to perform.

Motivation system

According to ODONNEL & Knootz there are 4 parameters of any motivation system in any organization I. productive: The motivation system must be such that the workers should get a sufficient encouragement to contribute their efforts in production. The productivity should be at maximum level. II. Competitive: It means the organization must make profits through the effor ts of fully satisfied workers .That is workers should get salaries, compensation and incentives III. comprehensive The motivation system should be easy to under stand for every worker of the organization and it should take into consideration all the basic needs and some of the other needs of workers. IV. flexible: the motivation system should be flexible that means when there is the change in the situation of working conditions, working persons, errors, mistakes ,new machinery etc, the motivation systems should also change to adopt the new situation quickly and easily[without friction]
Project Manager : Project manager is the key person in any oraganisatio n.He should possess good leadership qualities.Overall project success depends on decision of manager.he is the responsible for each and every activity. The project manager tries to achieve a mission by 1. Managing--Time & progress;Cost & cash flow;Quality & performance;Organisational behaviour.

2. With Organisational resources (human resources) 3. ByPlanning,Scheduling,Organising,Directing,Motivating,Controlling & Monitoring Various resources. 4. Within Time,Cost,Quality and Environment Constraints. Role of project manager: 1. Figurehead role.

The project manager is the legal & social head of the project, & he is the single focal point for making decisions, ceremonial functions & symbolic duties. 2. Leadership role. The project manager leads the interventional efforts in the project organizational efforts in the project organization by building a performance motivated team of skilled & experienced people to face the challenges or projects. 3. Liasioning role. Project manager maintains good relations & contacts o utside the organization e.g. vendors (suppliers), prospective clients, government agencies, top person in the same industry. 4. Monitoring role. The project manager monitors various things in the organization like time, cost, quality, speed of work to gain assured results. 5. Disseminators role. The project manager transmits the relevant & new information received from outside & internal sources to the people in his organization. 6. Spoke persons role. The P.M. acts as sole representative of his organization to the clients or external parties. 7. Entrepreneurs role The P.M. seek an identifies opportunities to promote improvements & changes. 8. Disturbance handling role. The P.M. maintains organizational harmony by resolving disputes & diagnosing organizational behavior on time. He takes corrective actions during unexpected disturbance too. 9. Resources locaters role. The project manager takes the responsibility for allocating the project resources & makes any changes to ensure availability of adequate resources on time. 10. Negotiators role. The project manager negotiates important conflicting issues & business, both inside of the project environment, to have better performance at min or reasonable cost.
# Functions of project manager: 1) Planning Never stop questioning--curiosity has its own reason for existence[Sir Albert Einstein].[ http://freaky_freya.tripod.com/einstein.html ] Approach of the manager should be like this,in the planning stage he should considered various aspects and conditions of works.As ----

What, when and where it is to be done? Who will do it? What is the method to do it? What resources are to be used? The planning should be considering capacity and working conditions of the organisation.Planning should be perfect, with 5 -10 % allowance for uncertainties. 2) Organizing A group of people working together to achieve a common goal. The organizing function of any management includesDivision of work, selection of right person fro right job giving task or target for the shift or working hours, training the workers for better performance, promoting the workers at higher places, transfer of workers, record keeping of employees from recruitment to retirement etc. 3) Directing Directing the day to day activities of a project management. It includes giving orders & instructions to the subordinates for hassle free working environment for better performance & to redu ce rate of accidents & wastage of materials & also to reduce idle time. 4) Coordinating The success of any organization depends on the collective efforts of individual in that organization. Coordination involves the development of sense of unity among all employees to achieve the common goal. i.e. if properly coordinated, the individuals can supplement each others efforts & become more & more productive. 5) Controlling It means maintaining discipline in the organization. This is necessary to keep the progress of the project work as per planning schedule, to maintain hierarchy of the personals, to reduce wastage of materials & idle time & to make the employees feel that they are responsible members of the organization. 6) Supervising It means observing & maintaining the sped of day to day work for quality control & stipulated progress of work. Here every individual is observed by his superior for the betterment of the project & organization. 7) Economizing It is another important function of any management to earn a reasonable profit from the project for the organization. It can be achieved throughQuality control, speed of work as per schedule, minimizing wastage of material, reducing idle t ime of manpower & machinery etc.

a. b. c. d.

 Project Life Cycle & Planning: Planning:

Planning is the process of developing the project plan. It includes planning for resources & scheduling. It means formulation of a time based plan of action for coordinates to achieve the specified objectives; and putting the plan on calendar/time scale. During execution the plan has to be modified due to various construction & inference happening. Plan execution monitoring re plan execution This is an endless process until a completion of a project.Plan gets alter several times due to change in customer demand and project concept. Development of project plan is done by breaking down the project in subprojects,defining work task,fixing the precedence activities,computing duration of each activity,and calculating project total duration. Manner of execution,resources available and mode of finance are the most crucial factors which are considered in planning.
Planning of project on B.O.T basis:

Govt. side 1) Pre execution planning i. Initialization of concept ii. Surveys. iii. Finalization of site iv. Design, drawing, estimate. v. Administrative approvalbudget provision vi. Technical sanctioning vii. Land acquisition viii. Floating tenders ix. Verifying tenders of succeeded or selected contractor & finalization of contract. 2) Execution i. Handling over site ii. Appointment of P.M.C. for approval of changes in design, drawing & estimate. iii. Inspection & quality control iv. Commissioning, functioning of project.

Contractor side 1) Pre execution planning i. Study of tender ii. Review of companys capabilities iii. Working out design, estimates. iv. Arranging for a raising fund. v. Accountsloan, interest, expenses, toll period, profit. vi. Filling the tender forms.

2) Execution i. ii. iii. iv. v. Acquisition of site Work order Camping facility Breaking into sub projects Modification in design & estimate to economize the project cost with out affecting/compromising

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b. feasibility studies The whole study is done in this stage on the part icular project. The application, purpose is studied in this stage. No of affected people is less. c. various surveys Various surveys are done for that project before the construction. It may be of measurement of land & its nature. d. investment appraisal In this stage the total cost expected for the project is calculated by the government department. Benefit cost ratio is also calculated. e. project definition In this stage the project is grouped in various construction activity or the purpose of the project. E.g. bridge, canal, road etc. Includes above all things. 2. Mobilization/Planning a. project preliminary plan The plans are prepared for the work. the planni ng is done for money, machinery & labours etc. for the work. It is the overall view about project. b. design & drawings The necessary design & drawings capacity, functional; structural design & set of drawings are repaired for the work. It includes 1) the model or plan of project 2) The capacity of the project, function, structural design & set of drawing c. specifications & estimates. The estimates are done & actual cost is found out for the project & the specification of the work for project is also decided. d. Contract finalization In this stage the contractor is selected for project work by tendering, B.O.T, or department or contract. e. Resource mobilization In this stage the source of money, machinery & labour & work is started. 3. Execution or Construction a. planning & contracting The planning of machinery, equipments,& labours are done. Subcontracts. b. actual execution the actual work is start in this stage.

c. supervision & quality control in this stage the supervision is done by the site engineers at the same time quality control is also checked while construction. d. Commissioning The complete project is given to the owner or government department. Demonstration of complete parts/components. 4. Completion a. Site cleaning & pack up of workers, machinery etc. In this site dearness is done & packing of all labours, machinery & remaining material. b. Handling over the project to owner or government department. Handling over to the owner.

Risk management

Risk, An unfavourable elements/process which affects the normal functioning or process or results of process is known as risk.It is an unpredictable activity in all projects which hamper the project life cycle.Risk may occur in any form and at any stage of project.The exact duration, start and end time of risk is very hard to predict.Risk is unavoidable,but proper investigation and prevention can reduced the quantity and effect of it.Most of the projects fail only due to improper risk management, which is the only vital tool to fight against any certainties. To develop or implement risk management technique it is necessary for any organisation to analyse the risk.This is the basic step in risk management.Risk management is not the fire extinguisher,used in emergency,but it has to used from early planning stage t ill project delivery.No doubt risk management technique needs some time and money.But it is worth to spend money and time for risk management in the early planning stages of the project.Otherwise the impact due to risk will be more higher than the time an d money spend.So it is wise to implement such good technique in early stages, as risk factor,its quantum and difficulty will go on increasing as project life cycle progress,and it is hard and expensive to control risk in delivery stage. Techniques used in risk management Risk Identification,Risk Assessment, Response Development, Risk response control.

 Risk Identification:-

Sources and quantity of various risks are identified with its impact on project environment. A brain storming session between all organisational member is good solution for possible outcome of potential risk. All members in this session analysed and put their ideas about the risks and all such ideas are welcomed and noted down.Discussions with experts, other project authorities, stak eholders is helpfull in proper identification of risks.Other options like detailed study of design,drawing,past project review is additional information to organisation.the outcome of brain storming sessions,discussions,design study will be indicative of v arious possible risk occurrence situation. Proper breakdown of project in 4 parts for risk identification is more suitable to identify the risk according to/considering i)Construction Risks a)delay in project completion, b)failure in acheivimg standard performance specification. c) Availability of skilled labour & guarantee of labour productivity. d) Inability of contractor to perform. e) Safety risks related to injuries, accidents. ii) Operating Risks a)Cost difference between actual and estimated cost for operating & maintaining plant. b)Price fluctuation of raw materials. c)Inconsistent supply of raw material from supplier. d)Low customer demand for project output. iii) Political Risks a)Political instability,war,riots. b)Increased taxes from government. c) Inability of government to provide project facilities. **It is very hard for project manager to control the political risk** iv) Financial Risks a) Increased interest rate. b) Fall in share value, equity of co mpany c) Sudden inflation rate.

 Risk Assessment:-

It helps to getclear idea about the quality and quantity of risks and its possible effect on project.Risk assessment is done in 2 types a)Qualitative Quality of the risk is analysed with the help of list which indicates the risk compiled from experience,interviews with key participants and ideas from brain storming session.Likely occurrence and probability of risk is most important aspect in qualitative analysis. b)Quantitative The actual loss due to risk is calculated by implementing more sophisticated analysis techniques and computer programmes.Estimation of most likely affected factors such as cost, duration, project activities are done.  Response Development:a)Avoiding, Alteration in the original plan and working strategy to minimise potential of risk. sing the approach that does not have risk, but this option is not always feasible.This is the most effective risk management techniqu e if utilised properly. b)Transferring Transferring responsibility of risk management to another party, by contract or by hedging. Paying extra amount to transfer risk to party, which can deal properly with risk. c) Mitigation Reducing the likely occurren ce and effect of Risk event, by Insuring property, machinery, material, manpower. Proper Risk analysis will help to reduce the risk impact. d)Sharing Sharing or distributing risks with various authorities, responsible for project completion. It may help to reduce time and cost for risk management. And as risks is being shared with responsible parties, they will work more carefully to avoid it. e)Retaining As far as possible any organisation tries to avoid the circumstances of risks, though it is unavoidable.So best policy is to accept Risk, and plan the strategy for risk preventive measures.  Risk response control:Organisation should monitor and keep control on the risk.Risk response control involves a risk management plan; keeping record of past risk and the methodology designed to counteract it;description of proposed corrective plan;cost involved and resources implemented when situation arise;further

information of possible risk which will keep organisation ready to battle against risk.

Negotiation

The process in which the price level of any commodity is reduced to an acceptable limit without compromising with quality and specification,further order size can be adjusted to get some discount . sually negotiations are held with the supplier after the receipt of quotations. Though the prime purpose of any negotiation is to reduced the prices, it can also be to finalized various other details like delivery schedules, quality discounts, specifications as per standard material instead of special materials etc. etc.In negotiation both sides tries to win according to their policy but the difference is that one party wins more & other wins less. Before negotiation starts both parties defined their negotiation policy, according to Fixing the right prices of the goods,insuring the delivery schedule& assuring maximum cooperation from the supplier. It is advisable to conside r the suppliers capacity before fixing the delivery schedule. In a major contract of procurement of materials, a large number of issues have to be resolved, the actual negotiation session may be completed in a few hours or prolonged to a number of days. Preliminary session This session is a sort of fact finding session where the facts are discussed, the problems are defined & data collected is framed to formed the agenda for the negotiation session. Both sides bring out the assumptions made by them. Clarifications of certain technical terms are cleared. Door Knob Method Some times the negotiator uses a weapon what it is called as door knob or he will leave if his offer is refused. In such situation the other party has to compromise for getting business o therwise has to leave this transaction.

# Personal abilities of a good negotiator:

The prime qualities of a successful negotiator are as follows: 1) Knowledge: A good negotiator must have a good working knowledge of all primary functions of business like economics, finance, engineering cost accounting business law etc. He should know the process of contract agreement & technique

of negotiation. He should know the manufacturing technique, its raw material, its substitute material etc. & the various factors affecting the price of the material. He should be jack of all treads & should act as a leader of negotiation. 2) Skill He must be skillful in identifying various issues & their importance in planning, communication & arguing in negotiation meeting. He must poses fluency of expression. 3) Attitude He should have studied psychology & philosophy & must understand human relations & interaction of group members. He should think not only positive but also happy & progressive. 4) Ability to analyze He should have clear thinking & posses sound judgment to plan & consider various alternatives objectively 5) Calm, quite & impersonal In all situation, the negotiation should remain calm & quite but impersonal. These are difficult quality to practice particularly during the hot discussion in negotiations.He should be a good listener allowing others to talk 6) Company point of view. He should approach a problem to safeguard the interest of his organization only rather than his personal prestige. 7) Sense of humor He must tactful & have a sense of humor. One cannot win every point every time but the ability to make a job displays good humor even when loosing a point. 8) Persistence(persuasiveness) He must be able to persist in his efforts to solve the problem to mutual satisfaction without causing any butterness.

Cost time analysis:

Cost: Cost of productionThe cost of production in a general sense, is the cost of producing a particular commodity. The cost of each of item & process included in producing the finished product, right from purchasing raw materials to convert them in finished goods, is taken into account to workout the cost of the product.

Cost accounting can be stated as the process of recording business transactions in systematic manner.
Necessity of cost contro l:

Cost control is an effective tool in PJM for both parties - owner & contractor. Its helpsi. ii. iii. To reduce/avoid wastage & misuse of material. To increase the profit margin & reduce losses. To compare between budgeted expenditures and actual expenditures from time to time. This gives an idea regarding the level of profit as loss to the contractor. Cost control provides basis of modification of rates or processes to have better output conditions. It helps in taking remedial during the progress of work.

iv. v.

Stages of cost control

1. Before or Pre construction At the time of design & drawing , care should be taken to prepare most economic design of every component. Specifications should be properly framed. The engineer should formulate a detailed schedule or netw ork with proper progress rate.

2. during construction Contractor should ensure that all required resources are adequate and available in time. Optimum use of materials should be made & wastage minimized. Optimum use of machinery with minimum idle time. Proper supervision for quality control & also for cost control. Indirect losses due to accidents or stoppage of work should be minimized by adopting safety measures.

# Variation of direct cost with time:

Explanation of graph of Variation of direct cost w ith time

On the graph cost is taken on Y axis & time is taken on X axis. The graph shows that if the time required for completion of any work is normal time or the work is completed within normal time then the cost occurred for the completion of that particular work is normal cost. But if we want to crash or minimized the time of production of work or we want to complete the work before the normal time means in the crash time then we have to appoint more labours, machinery for completion of work, and we have to pay extra charges for the labours, machinery, light etc. Due to this crash time the related cost will be increased. And if we does not complete the work in normal time then the cost and time will also be increased.

Difference in costs Cost slope = ---------------------Difference in times.

crash cost normal cost = ---------------------------

Normal time crash time

1. Normal time: It is the time to complete an activity with normally available reso urces in normal conditions. 2. normal cost it is the minimum direct cost when an activity is performed or completed in normal time duration 3. crash time it is minimum time in which an activity can be completed by increasing other resources like manpower , material , machinery & hence money. 4. crash cost it is the direct cost corresponding to crash time & is higher than normal cost.

Principles of project management

1. Division of work; Work is to be divided in number of units as per the type and nature of wo rk .it helps in placing right person on right job and increases the efficiency and output. 2. Authority and responsibility Authority is the right to give orders and power to command the subordinates while responsibility is the duty or binding to perform. For better efficiency of a group, authority and responsibility should go hand in hand 3. Disciple: Discipline is respect for rules, norms etc. for smooth and stream line work conditions. nity of command It means that employees should have a single boss or if there are number of superiors and specialist, then they should have unity in their commands. This avoids confusion, mistakes, delay etc . . . . And creates obedience. 5. nity of direction Activities having same objectives must be grouped, und er one head and one plan. It allows co-ordination of work and workers. 6. Subordination of individuals to general interest: No employee should initiate to have his interest prevail upon others interest. Instead individuals should follow the superiors ord ers 7. Remuneration: The wages or remuneration, salary paid to the employee must be fair and reasonable. Other facilities like bonus, incentive, overtime, and share in profit etc. 4.

create a sense of satisfaction in the employees and these factors imp rove the living standard of employees, the rate of production, efficiency etc. 8. Centralization if the authority or power to pass orders, instructions etc.etc. are in the hands of very few officers then it is called as centralization. It should be of moderate nature otherwise high degree of centralization may cause delay in decision making at lower levels. 9. scalar chain Chain of commands is the chain of authority ranging from the top rank of management to the lowest subordinate in the organization. A ll communications are transmitted along this path. 10. order According to many management scientist there are right man for right work & right materials for right man . If these are maintained in an orderly way, it helps in stream lining the work procedure. 11. Equity It means fair delays giving equal chances & benefits to all subordinates. 12. Stability & security of job. The employees must feel that they are stable & secure in their job. Any person with a fear of loosing his job cannot be expected for higher productive. 13. Initiative The employees must be encouraged to think out separately & suggested to execute the plan with independent discretion. 14. nity nion is the strength. The management must encourage the subordinates for team work. Divide & rule is not good principle of management, though it is normally referred to as a popular principle of administration & dictatorship.

Conclusion:Project management is the demanding and most popular criteria for all projects from different sectors. It is a key having numerous solutions for project problems.But proper implementation and utilisation of such a best technique in any organisation is very crucial. Project management and project manager plays the key role for projects. Project Manager is the responsible person for success as well as failure of project. He is the only one person who can control and utilise the best resources he had within the organi sation.Now a days they are playing very important and broader role,in addition to technical knowledge and traditional skills, he should possess good

political skills,customer relationships skills,and business skills. Good organisation with coordination and cooperation indicates that all projects are not only for failure, but for sucessfull completion as well. Motivation is the good tool of project manager to cheer up his team members and get work done on time.Project is not a ordinary thing, which can be planned haphazardly.every project involves huge investment,resources,techniques.therefore perfect and accurate planning is necessary from the early stages of the project. Breakdown of project structure in small activities is good practice. Risk management is the tool ,through which one can get the idea about the unpredictable furure uncertainties which affect the project.It not only reduces the risk of cost and time overrun but also the impact on project. At the end of any project overlook should be given to view the risks arrived and methodology adopted to overcome it.No body wants to think about any uncertainties or wrong things arrising in the project especially in the early stages,but doing so it is very important to plan against any uncertainties. All project entities, team members experts and stake holders should work in hand in hand with good cooperation and coordination.Proper planning,risk management,good organisation,and Manager with good leadership qualities are the main pillar of any successfull project .

References:y y y y

http://www.projectsmart.co.uk/history-of-project-management.html http://www.projectsmart.co.uk/introduction -to-project-management.html (http://www.projectsmart.co.uk/project -management-risk-management.html) (http://www.projectsmart.co.uk/project -management-risk-managementoptions.html)

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