Managing projects Essay Example | Topics and Well Written Essays - 3000 words

Managing projects - Essay Example Consequently, a new body of knowledge was evolved, which came to be known as Project Management. Over the years, the science of Project Management has developed enormously and many scholars and practitioners have introduced various tools and techniques to enrich it. Internet, computers, project management software etc have accelerated the pace of development of project management. Successful completion of project on time with the use of limited resources and minimum cost is the main objective of project management. But, project management in modern times is no longer possible by paying attention towards resources, cost and time alone. The project managers are forced to look beyond time, cost and resources. The traditional tools and techniques such as Gantt chart, PERT/CPM networks became powerless and attainment of project objective remained a dream for the competent project managers. A careful analysis has been made in various areas of project management and finally reached a way-ou t that project managers need to have a check on the rapidly changing environment in which the project needs to be materialized. The present essay looks on various aspects of project management and the intricacies of project management in the modern rapidly changing project environment. The term ‘project Management’ has been defined by authors in different ways. There is no unanimity among the academicians and practitioners concerning the activities and the scope of a project manager and hence, about definition. The following definition seems to be a typical one. â€Å"Project management is the process by which projects are defined, planned, monitored, controlled and delivered such that the agreed benefits are realized. Projects are unique, transient endeavors undertaken to achieve a desired outcome. Projects bring about change and project management is