Project Management is an enormous task that involves a great deal of strategic planning and implementation of business activities to achieve the goals and objectives. A project needs to be completed on time, and the execution right from the inception of the idea to delivering the final product can only be successful when the leadership is skilled and experienced and it along with skilful team members plan, execute the project. The team works in tandem to complete projects that match the expectations of the clients.
We at Online24x7 brainstorm and come up with the best ideas and project management strategies to ensure that the clients’ plans are converted into reality with the best tools and technology available. Each project is unique, but particular activities are applied to achieve a goal in a project. The project management team works unanimously to produce results that are required to accomplish an objective. Project Management includes the application of skills, tools, knowledge, and techniques to implement project activities successfully. With the aim of creating a unique product, a team works towards executing a project that has a definite beginning and an end and needs to be completed within a stipulated period. Project Management differs from the usual business operations which are repetitive and include a permanent or semi-permanent routine of business activities. On the contrary, to complete a project within a fixed period is challenging and requires expertise and distinct management skills.
Online24x7 has got the opportunity to serve thousands of its clients with its astute Project Management skills, and our brilliant team gets all the credit for successful completion of projects. Project Management includes five-stage process -initiating, Planning, Executing, Controlling and Closing.
Initiation: At this stage, the nature of the project is determined, and the scope of the project is defined. The team gets a thorough understanding of the business environment, and all the required resources are collected to start the project. Any issues that might be a hindrance in the successful working of the project are identified, and recommendations are made to deal with them most appropriately. The plan made includes a project proposal which defines the purpose of carrying out the project, the final objective and the time the project will take to complete. It also consists of the Project scope and the components involved in the plan is defined in the WBS-Work Breakdown Structure. The WBS entails the hierarchy of roles to be performed and the daily work routine that is a part of the process of Project Management.
Simultaneously roles are assigned to the team members who are made responsible for specific outcomes of the project. The business requirements are analysed against the objectives, and the current scenario is reviewed. A tentative time frame is decided for project implementation and completion. A budget is allocated, and SWOT analysis is done at this stage.
Planning: Project planning involves meticulous planning that determines the method or approach required to define the plan. The planning team is selected, and the deliverables are identified, and further, the activities are decided to work on the deliverables. The resource requirements are determined to the last detail, and the schedule is prepared so that everything is planned in a logical sequence. Moreover, the risk is calculated, and the quality assurance team is put in place. The team then gains formal approval to green signal the project.
Execution: The deliverables that have been defined at the planning stage are executed at this stage. Allocation of finance, human resources, coordination, and management, etc. all the activities are performed which results in the deliverables anticipated at the planning stage.
Project Documentation: It is important to maintain records and document the process and the results achieved in Project Management. Documentation also acts as a reference point for the team members, and a clear scenario is obtained regarding the results achieved and to monitor the entire process. Project Documentation helps in keeping track of the business activities and controlling the various operations to ensure that they are being performed per the plan.
Monitoring & Controlling: This stage refers to the observation of the execution of the activities involved in the project and identifies any issues that might crop up in the implementation of the plan. A problem-solving approach is applied to the project, and remedial measures are taken. When there are multiple phases in a project, the feedback is gained between projects so that corrective action is taken. It is done to ensure the project contuse asper the project management plan. Similar to Maintenance and support activities of a business organization, the maintenance of the project is a continuous process where errors are rectified, and updates are introduced to the product.
Closing: This is the final stage in the Project Management process which includes the formal acceptance of the project, and the project is closed. The completion and settlement of each project are undertaken at this stage. All the activities are finalized across all the process groups to close the project formally. This stage also includes the Post Implementation Review which enables the team members to learn from the experience of Project Management and apply the learning in future projects. A thorough analysis is done to evaluate the results. Onine24x7 follows each process of Project Management diligently and ensure that deliverables are achieved successfully.