Project management is a worldwide recognized skill that helps professionals to complete their projects more efficiently and effectively. Many organizations today use project management to help them focus on their priorities and overcome obstacles, increasing their chances of success. There is a double benefit to Project Management, not only does it benefit the businesses, but also the customers. Get detailed knowledge of Project Management with the PMP Training.

What is Project Management?

Project Management involves the use of knowledge, skills and tools to accomplish multiple tasks in order to satisfy project requirements and produce the final deliverables within a limited time and budget. There are six limitations to Project Management.

Scope

The scope is a set of deliverables that is guaranteed. Projects are to be created keeping this in mind.

Time

The most important stakeholder consideration and key measure of project success is time. It is important to estimate the time it will take to complete the project.

Qualitative

One such area that is often affected by other constraints is quality. The quality of the project will suffer if the cost or time is reduced.

Cost

Another important aspect to consider is cost. This is the estimated labor cost of factory, administration, software and equipment.

Risques

Every step of the project requires that the Project Manager anticipate potential risks. There are many possible scenarios, and solutions.

Resources

Each project requires a certain combination of resources to be a success. Learn more about this in the PMP Certification in India. The resources refer to the limits that are required to accomplish a job. They can be in terms time, equipment or other supplies.