Costs in Project Management – Costs associated with the Projects
February 12, 2025
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A project in any organization is collaboration across departments to achieve a single well defined objective. The process of planning, organizing and managing resources to achieve the organizational objective is called project management.
Project management is very important in production of goods and services. Idea generation to final production of product or service, each step can be categorized as individual projects. Any project requires a project manager, who leads the project to its logical conclusion. Project manager is responsible for appointing team members with different background but essential in completion of the project.
A project is not normal day to day activity undertaken by organization rather it is specific, non-routine activity of varying time frame and impact viability of the business in the long run. A typical project has following characteristics:
A typical project is divided into following phases. Each phase of the project has its own importance and impact on overall success of the project.
Project management activities are mainly divided into three main categories Planning, Scheduling and Controlling.
There are several techniques utilized for project management. Some of the techniques are as follows, and they are mainly used for project scheduling.
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