Project Management Research Paper Example | Topics and Well Written Essays - 2000 words - 1

Project Management - Research Paper Example The project management institute defines project management as application of skills and knowledge along with tools and techniques to meet the project requirement (Barkley, 2006). Hamilton, (2004) divided project management into 5 components i.e. initiation, planning, execution, monitoring and control and lastly closure of project. This report discusses some of the most important concepts related to project management. The report starts with defining the project life cycle management and its benefits. Then the report discusses about project organizations and project team building. Moreover, important concepts such as project scope, work breakdown structure and contingency planning have been discussed. Also the report analyzes the importance of reviewing the project and need for an integrated project management software for project management organizations. Then the researcher shares his own experience about a project in which he was involved. Project life-cycle indicates all the project phases that a project has to go through in order to be completed. In other words, it is a collection of project phases that are divided so that the project can be controlled and managed accordingly. According to Kerzner (2009) project life-cycle is divided into four phases that indicates the beginning and ending point of a project. Furthermore, according to Kerzner (2009), the first phase of project life-cycle is the initiation phase followed by project planning, project execution and project closure. Each of the phases mentioned by Kerzner (2009) is further divided into activities which need to be done to accomplish the goal of project management. In order to further elaborate the project life-cycle, each of the phases is separately presented along with the activities involved within the particular phase. The aim of this phase is to identify the problems along with the opportunities that the business could focus upon. This phase also includes solutions to the