What are the characteristics of Project Management?

The following are the characteristics of project management:

• Projects are ad-hoc endeavors that have a defined life cycle.

• Projects are building blocks in its design and execution of enterprise strategies.

• Projects are the leading edge of new and improving organizational products, service and enterprise process.

• It provides a philosophy and strategy for the change of management in the enterprise processes management of change in the enterprise.

• The management of projects entails crossing of functional and organizational boundaries.

• The management of project requires an inter-functional and inter-organizational focal point to be established in the enterprise.

• The traditional management functions of planning, organizing, motivating, directing and control are carried out in its management.

• Leadership and managerial capabilities are essentially required for the successful completion of a project.

• The main outcome of a project is the accomplishment of technical performance, cost and schedule objectives.

• Projects are terminated upon completion of the cost, schedule and technical performance objectives, or earlier in its life cycle when the project is no longer promising or have a strategic fit in the enterprise’s future.

References

1. Introduction about Project Management

2. Definition of a capital expenditure

3. Importance and difficulties of Capital expenditure

4. What is the need of Project Management ?

5. How was the evolution of Project Management?

6. What is the scope of Project Management

7. What is the impact of Project Management on Organizations ?

8. What are the characteristics of Project Management?

9. What are Project Management Activities?

10. What are Project Management processes?

11. What are the different phases of life cycle of a project?

12. How does project management becomes a part of strategic planning?

13. What are the different phases of capital budgeting?

14. What are the facts of project analysis

15. What are the basic strategic postures associated with the SPACE approach?

16. What is conglomerate diversification?

17. What are the objectives of capital budgeting?

18. Maximization of the wealth of equity shareholders

19. Do firms really act or should solely act to further shareholders welfare?