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Project Management

Project management involves a few key steps and necessitates a synchronized team, but it is a huge help to any product process

What is project management?

Project management
encompasses the entirety of planning and developing a product or service, from ideation to execution. Project management involves working with a variety of resources and skilled professionals across different teams to turn a concept into a reality.

Project management applies to every industry and every type of good or service. Every company needs to be able to formulate a concrete plan for developing their ideas. The three broad phases of project management are:

  • Defining goals
  • Creating strategies for achieving those goals
  • Managing projects that implement those strategies

Project managers are responsible for determining what features would make the product successful, understanding how the proposed features would affect the company’s bottom line, and watching over the entire project process.production to make sure the end product is in line with the original vision

Who does project management benefit?

Everyone in a business benefits from project management somehow. If you’re a manager, defined project management helps you keep track of the status of your goals, and it gives you more control over tasks.

Employees benefit from increased productivity and fewer interruptions. Project management also helps employees grow because they are given space to learn new skills and work as a unified team. Well-managed projects have better results, which means more chances for promotions or raises.

What is project management in stages?

Project management has five basic stages common to all types of work. They are:

  1. Initiation, where teams are gathered together to agree on goals and begin planning ways to meet them
  2. Planning, where large tasks are broken into smaller pieces to make it more manageable and easier to track
  3. Execution, where the work you have agreed upon with your team is carried out, after budgeting and allocating resources appropriately
  4. Monitoring, which means regularly checking to make sure things are running as intended
  5. Closing, where you see if everything has been completed before moving to the next project or next phase of the project
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