Project Management 101

Welcome to Project Management 101! This course is designed to assist all you fantastic project mangers out there with a refresher session on project management which will enhance your current skill set and help you to add even more value to your respective industries and workplaces.

Introduction to project management

What is project management and why is it important?

According to SearchCIO project management “is the discipline of using established principles, procedures and policies to manage a project from conception through completion”. This includes defining, planning, briefing, implementing and evaluating a project. Project management is often abbreviated as PM and is a valuable process for many reasons.

These include the saving of time and money, the management of risk and quality and the ability to help organize chaos. By designing a project in order to achieve a set goal/outcome both time and money are saved. A project is planned and thus has a set budget as well as timeline. Projects manage risk and quality as they have continuous check points throughout their life cycle where any potential risks and quality problems can be addressed before they become detrimental. If a goal was to be achieved without the process of project management it could become quite chaotic – especially if a team was tasked to achieve this goal and everyone just went off on their own and did what they felt was necessary to achieve it!

Apart from all of these benefits – one of the most valuable lessons that project management offers is the ability to learn from failure. It is said that in life the best learning takes place when you fail. If you were successful in everything that you did – how boring would life be, and what would you actually learn? Click here to read up on a great article describing the 8 lessons to learn from a failed project.

Which one of the following statements is true about project management?

  • It is the discipline of using established principles, procedures and policies to change incorrect processes in an organisation
  • It is not valuable in small organisations
  • It sometimes results in failure
  • It increases risks in a business