In this article, we\u2019ll introduce you to the fundamentals of project management, starting with some basic definitions. Then, we\u2019ll define projects, followed by a closer look at some popular project management methodologies, and the 3 pillars of project management. <\/p>\n\n\n\n
Finally, we\u2019ll provide some useful tips, consider the benefits of project management, and take a look at an illustrative project management example at the end.<\/p>\n\n\n
![\"What](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2023\/08\/What-is-project-management-cover.png\")
<\/figure>\n<\/div>\n\n\nWhat is project management in simple terms?<\/h2>\n\n\n\n
In simple terms, project management is the application of skills, tools, and techniques to project activities<\/em> in order to meet project requirem<\/em><\/a>e<\/a><\/em>nts<\/em><\/a>. <\/p>\n\n\n\n And now, let\u2019s provide a more comprehensive definition of project management.<\/p>\n\n\n\n The 7th edition of the Guide to the Project Management Body of Knowledge (PMBOK), provides the following definition of project management<\/a>: \u201cThe application of knowledge, skills, tools, and techniques to project activities to meet project requirements.\u201d <\/em><\/p>\n\n\n\n The Association of Project Management (APM) defines project management<\/a> as \u201cthe application of processes, methods, skills, knowledge, and experience to achieve specific project objectives according to the project acceptance criteria within agreed parameters.\u201d<\/em><\/p>\n\n\n\n According to APM, a key factor distinguishing project management from just \u201cmanagement\u201d is that it has a final deliverable and a finite timespan, whereas management<\/em> is an ongoing process.<\/p>\n\n\n\n In Project Management: A Systems Approach to Planning, Scheduling, and Controlling<\/em><\/a>, Harold Kerzner defines project management as \u201cplanning, organizing, directing, and controlling of company resources for a relatively short-term objective that has been established to complete specific goals and objectives.\u201d<\/em><\/p>\n\n\n\n As we can see, all these definitions are very similar \u2014 they all involve meeting project requirements as an ultimate goal.<\/p>\n\n\n\n \ud83d\udca1 Plaky Pro Tip<\/strong><\/p>\n\n\n\n Project management is often confused with some similar terms, and their meanings sometimes overlap. To see how project management compares to other kinds of management, check out the following guides:<\/p>\n\n\n\n To better understand project management, we should also define the term \u201cproject.\u201d<\/p>\n\n\n\n If we look at PMBOK\u2019s definition of a project, it\u2019s described as \u201ca temporary endeavor undertaken to create a unique product, service, or result.\u201d<\/em><\/p>\n\n\n\n Another similar definition comes from the above-mentioned APM article, which defines a project as a transient endeavor meant to achieve planned objectives, further defined by its outputs, outcomes, and benefits.<\/p>\n\n\n\n Harold Kerzner, in his <\/a>10th edition of Project Management, A Systems Approach to Planning, Scheduling, and Controlling,<\/em> defines a project as “any series of activities and tasks that:<\/em><\/p>\n\n\n\n On the above-mentioned page, The Project Management Institute pointed out several characteristics common for all projects:<\/p>\n\n\n\n Let\u2019s explain these characteristics in more detail.<\/p>\n\n\n\n Projects bring new value to an existing entity or create something completely new. <\/p>\n\n\n\n For example, developing a website or creating a new application for online shopping are examples of unique projects. Redesigning said website or app is also a unique<\/em> project, as the new website won\u2019t have the same design or functionality as the old one.<\/p>\n\n\n\n While some projects \u2014 particularly repeated ones \u2014 might not seem unique at a glance, they all have a definite end point and will inevitably differ on some level throughout different iterations.<\/p>\n\n\n\n \u201cTemporary\u201d doesn\u2019t mean that projects last for a short period of time. It means that every project lasts for a limited time and has a definite beginning and end, regardless of whether it\u2019s successful or not.<\/p>\n\n\n\n As for the exact timeframe of a given project, it can vary greatly depending on the specifics \u2014 a project can take anywhere from a few hours to several years to complete.<\/p>\n\n\n\n \ud83d\udca1 Plaky Pro Tip<\/strong><\/p>\n\n\n\n It doesn’t matter how long they take \u2014 managing a surge of new projects isn’t easy! Luckily, we’ve got 3 tips to help you succeed:<\/p>\n\n\n\n No project is a 1-man job. So, every project has a team, and a project team<\/a> consists of members from various disciplines who share a common goal \u2014 to complete the project successfully.<\/p>\n\n\n\n No matter how big or small the project is, it cannot be executed without appropriate funding. As such, a project manager must always carefully consider the project budget<\/a>.<\/p>\n\n\n\n As the Australian Institute of Project Management pointed out in their ultimate guide to project budgets, \u201cif you under-call the budget, you\u2019ll end up missing milestones, being under-staffed, and having to do the walk of shame to the finance department to ask for more money.\u201d<\/em><\/p>\n\n\n\n A project schedule is a listing of project activities<\/a>, milestones, and deliverables. It also determines the start and end dates of a project, its duration, and resources assigned to each activity.<\/p>\n\n\n\n Clearly defined projects are projects whose goals and objectives meet the SMART criteria<\/a>. The acronym SMART stands for Specific, Measurable, Attainable, Relevant, and Time-based. <\/p>\n\n\n\n A project goal<\/a> provides direction, while project objectives are specific targets the project aims to achieve to meet the goal. Every project has multiple project objectives.<\/p>\n\n\n\n Going by the acronym, they should be:<\/p>\n\n\n\n Now, you might be wondering how this looks in practice. Let\u2019s provide an example of SMART goals for project objectives.<\/p>\n\n\n\n If you are a project manager<\/a> in a software development company and your company is developing a new website for a client, your SMART objective may look like this:<\/p>\n\n\n\n Change the current back-end tasks priority by assigning new due dates to all 5 critical tasks over the next three days without changing the original project deadline, so we can demonstrate a demo website version to our client on January 20.<\/em><\/p>\n\n\n\n Let\u2019s break down the SMART criteria for this example:<\/p>\n\n\n\n Now that we\u2019ve gone over the definitions, characteristics, and a SMART project example, here are some more concrete examples of projects:<\/p>\n\n\n\n \ud83d\udca1 Plaky Pro Tip<\/strong><\/p>\n\n\n\n Learn how to start a project in just a few steps in the guide below:<\/p>\n\n\n\n As mentioned before, project management has been a part of our lives since the very first organized human activities. <\/p>\n\n\n\n For instance, thousands of people had to cooperate to build world wonders such as the pyramids in Egypt, Machu Picchu in Peru, and the Great Wall of China. These massive undertakings had to be planned and coordinated until they were completed successfully. <\/p>\n\n\n\n However, modern project management dates back to the early 20th century.<\/p>\n\n\n\n Henri Fayol and Henry Gantt are considered to be forefathers of the project management concept, as they established the foundation of project management and expanded it in all fields. <\/p>\n\n\n\n Henri Fayol is famous for defining the 5 functions of management:<\/p>\n\n\n\n Henry Gantt is well-known for popularizing the Gantt chart as a project management tool around 1910 \u2014 though it was Karol Adamiecki, a Polish engineer, management researcher, economist, and professor, who invented this type of tool in 1896.<\/p>\n\n\n\n Over the course of the 20th century, these ideas were built upon, leading to the founding of many professional organizations and the development of new project management methodologies.<\/p>\n\n\n\n However, it\u2019s difficult to see an end point for project management, as it is always changing and adapting to new conditions. <\/p>\n\n\n\n The most recent example of this is the rise of virtual project management<\/a>, with many new tools and techniques that have emerged to bring project management into the new era of remote and hybrid work. <\/p>\n\n\n\n \ud83d\udca1 Plaky Pro Tip<\/strong><\/p>\n\n\n\n Learn more about the history of project management \u2014 and enjoy a few chuckles \u2014 in the meme-powered overview below:<\/p>\n\n\n\n Projects differentiate from everyday business activities and require employees to come together for a limited time to focus on specific objectives. <\/p>\n\n\n\n According to the above-mentioned article from the Association of Project Management, the core components of project management include:<\/p>\n\n\n\n \ud83d\udca1 Plaky Pro Tip<\/strong><\/p>\n\n\n\n For great books you can read to build up (or brush up on) your project management knowledge, you can refer to this guide:<\/p>\n\n\n\n \n Manage all aspects of your projects and improve your success rates with Plaky.<\/p>\n\n We can implement project management in all industries and businesses. Some industry examples include:<\/p>\n\n\n\n Many project management methodologies<\/a> have been developed over the years, but some have naturally been more prominent and influential than others.<\/p>\n\n\n\n In this section, we\u2019ll briefly go over some popular project management methodologies, including:<\/p>\n\n\n\n The Waterfall methodology relies on careful planning and execution of projects through several consecutive phases, with each phase leading over into the next \u2014 hence the name \u201cwaterfall.\u201d<\/p>\n\n\n\n These phases are usually divided into:<\/p>\n\n\n\n At its core, Waterfall project management is all about thorough planning and precise execution. This makes it a safe and reliable methodology, especially for large and expensive projects.<\/p>\n\n\n\n On the other hand, this also makes it rigid and inflexible, putting a lot of pressure on the initial planning stages to anticipate possible complications. Ultimately, this makes error correction more expensive, and the reliance on consecutive phases also means it\u2019s not the most time-efficient approach.<\/p>\n\n\n\n \ud83d\udca1 Plaky Pro Tip<\/strong><\/p>\n\n\n\n If you\u2019re interested in reading more about the Waterfall methodology, take a look at our full article on the subject:<\/p>\n\n\n\n Standing in stark contrast to Waterfall, the Agile approach is all about maximizing flexibility and adapting to changing situations, rather than strictly following a plan laid out in advance.<\/p>\n\n\n\n Originally meant for use in software development, this methodology has now been adopted across many industries due to its:<\/p>\n\n\n\n However, the Agile approach also relies heavily on customer interaction, which can detract from its overall efficiency.<\/p>\n\n\n\n Furthermore, the lesser focus on planning can lead to many unpredicted costs that, while not necessarily high at face value, can add up over the course of a project.<\/p>\n\n\n\n \ud83d\udca1 Plaky Pro Tip<\/strong><\/p>\n\n\n\n If you\u2019re interested in reading more about Agile, take a look at our full article on the subject:<\/p>\n\n\n\n Scrum is a popular project management framework built on Agile principles. It was introduced in the early 1990s and remains one of the most widely used methodologies to this day.<\/p>\n\n\n\n Scrum is focused on delivering value and optimizing processes, defined mainly by Sprints. In this context, a Sprint<\/a> is a circular process focused on completing a set of tasks within a given time period. Once a Sprint is complete, the team moves on to another one.<\/p>\n\n\n\n Scrum is great at:<\/p>\n\n\n\n However, Scrum is also among the more difficult frameworks to implement effectively, as it creates a dynamic and intensive environment that requires an experienced team capable of working under pressure. <\/p>\n\n\n\n Furthermore, Scrum is also more reliant on planning, so it\u2019s not a good fit for projects that involve lots of unknowns and don\u2019t have a defined project roadmap<\/a>.<\/p>\n\n\n\n \ud83d\udca1 Plaky Pro Tip<\/strong><\/p>\n\n\n\n If you\u2019re interested in reading more about Scrum, take a look at our full article on the subject:<\/p>\n\n\n\n Developed in the 1940s by the Toyota engineer Taiichi Ohno, Kanban remains one of the simplest and most popular project management methodologies to this day.<\/p>\n\n\n\n The main goal of Kanban is to help visualize the workflow and ensure efficient work distribution, which is done through the Kanban board.<\/p>\n\n\n\n The board contains task cards with all the information relevant to a particular task, which are in turn organized into columns, such as:<\/p>\n\n\n\n Of course, project managers can introduce additional columns, depending on the specifics of the project.<\/p>\n\n\n\n Overall, Kanban is great for:<\/p>\n\n\n\n On the downside, Kanban is heavily focused on sequential workflows, so it\u2019s not an ideal fit for dynamic projects that might require the team to respond to changing situations or frequently move tasks back and forth between columns.<\/p>\n\n\n\n \ud83d\udca1 Plaky Pro Tip<\/strong><\/p>\n\n\n\n If you\u2019re interested in reading more about Kanban or the unique mix of Kanban and Scrum \u2014 Scrumban \u2014 take a look at the articles below:<\/p>\n\n\n\n Lean project management focuses on maximizing resource efficiency in order to minimize resource waste and maximize profit margins. <\/p>\n\n\n\n As such, it is highly focused on detailed planning and is built around 5 core principles:<\/p>\n\n\n\n That said, Lean excels at minimizing costs and improving customer satisfaction \u2014 delivering the best product possible at the lowest possible cost.<\/p>\n\n\n\n However, due to its focus on optimizing resources, it also doesn\u2019t leave much room for error. Any mistakes can negatively affect the production process or risk delivering a subpar product.<\/p>\n\n\n\n \ud83d\udca1 Plaky Pro Tip<\/strong><\/p>\n\n\n\n If you wish to read more about the Lean methodology or some of the other project management methodologies we haven\u2019t covered here, take a look at the articles below:<\/p>\n\n\n\n Every project comes with limitations and risks that project managers need to address to ensure success. The project constraints<\/a> that project managers always deal with, irrespective of their industry, include:<\/p>\n\n\n\n These constraints are limitations placed upon the project that the project manager and his team must work within. They are often referred to as the project management triangle and the triple constraints. <\/p>\n\n\n\n This model of the constraints of project management has been used since at least the 1950s. Basically, they are a set of 3 interdependent project constraints that every manager faces.<\/p>\n\n\n\n Let\u2019s take a look at each one more closely.<\/p>\n\n\n\n The scope constraint refers to what must be done to deliver the project\u2019s end result. This constraint defines specific deliverables and the tasks needed to meet the project goal.<\/p>\n\n\n\n The time constraint refers to the time available to complete project tasks \u2014 and the project itself. It is also called a schedule and includes the deadlines for project phases<\/a>, all the major project milestones<\/a>, and the date for the delivery of the project outcome.<\/p>\n\n\n\n The cost constraint refers to the budget available for the project: employees and equipment costs, as well as the cost of other resources needed for the project.<\/p>\n\n\n\n Every project manager needs to balance these 3 constraints to deliver the best results. And each of these constraints is connected with the other two.<\/p>\n\n\n\n For instance, increasing a project\u2019s scope will likely require more time and money. On the other hand, accelerating the timeline for the project<\/a> may cut costs and diminish the scope.<\/p>\n\n\n\nProject management definitions<\/h2>\n\n\n\n
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What is a project?<\/h2>\n\n\n\n
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What are the characteristics of projects?<\/h3>\n\n\n\n
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#1 All projects are unique<\/h4>\n\n\n\n
#2 All projects are temporary<\/h4>\n\n\n\n
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#3 All projects have a team<\/h4>\n\n\n\n
#4 All projects have a project budget<\/h4>\n\n\n\n
#5 All projects have a schedule and expectations the team needs to meet<\/h4>\n\n\n\n
What are clearly defined projects?<\/h3>\n\n\n\n
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![\"S.M.A.R.T.](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2022\/02\/S.M.A.R.T.-goals.png\")
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What are some project examples?<\/h3>\n\n\n\n
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A quick history of project management<\/h2>\n\n\n\n
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What are the core components of project management?<\/h2>\n\n\n\n
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Free project management software<\/h2>\n
![\"Illustration\"](\"https:\/\/plaky.com\/learn\/wp-content\/themes\/cake-learn\/src\/images\/plaky\/banners\/default@2x.png)
\n <\/picture>\n <\/div>\n<\/div>\n <\/p>\n\n\n\nWho uses project management?<\/h2>\n\n\n\n
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What are the different types of project management?<\/h2>\n\n\n\n
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#1 Waterfall<\/h3>\n\n\n
![\"The](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2022\/02\/The-Waterfall-methodology.png\")
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#2 Agile<\/h3>\n\n\n
![\"The](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2022\/02\/The-Agile-project-management-process.png\")
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#3 Scrum<\/h3>\n\n\n
![\"The](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2022\/02\/The-Scrum-process.png\")
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#4 Kanban<\/h3>\n\n\n
![\"Kanban](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2022\/02\/Kanban-illustrated.png\")
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#5 Lean<\/h3>\n\n\n
![\"The](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2022\/02\/The-5-principles-of-Lean-project-management-1.png\")
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What are the 3 pillars of project management?<\/h2>\n\n\n
![\"\"](\"https:\/\/plaky.com\/learn\/wp-content\/uploads\/2022\/02\/iron-triangle.jpg\")
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#1 Scope<\/h3>\n\n\n\n
#2 Time<\/h3>\n\n\n\n
#3 Cost<\/h3>\n\n\n\n