In simple terms, a project can be defined a group of tasks which helps in achieving an objective. A project is generally undertaken to solve a problem or take advantage of an opportunity. Examples of projects include new product development, buying a new plant, or solving a production problem. A project plan involves many considerations and constraints. Project management is the process of planning, directing and controlling resources to meet the technical, cost and time constraints of a project. Project management helps organizations utilize their resources optimally.
With the number of activities increasing in projects, organizations need tools to plan and schedule various interdependent and interrelated activities. The need to reduce new product development time, become cost effective and keep quality at the highest level has necessitated the use of project management in organizations. Each project is unique with respect to resource requirements. Projects are temporary in nature and the resources (personnel, equipments, etc.,) are reallocated to different activities once the objectives of the project have been achieved.
In this chapter, we discuss the necessity of project management, networking fundamentals, and project management techniques such as PERT and CPM.
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