Project Management Institute A Project - 1539 Words

As stated by to the Project Management Institute, â€Å"A project is a temporary process which has a predetermined beginning and end according to the requirement, and therefore has a set of defined scope and resources. A project is unique as it is not a routine operation. It is rather a specific set of procedures and processes designed to accomplish the targeted goal† (Project Management institute, n.d.). A project is not a continuous or a permanent job which needs continuous work put into it. It is, therefore, different and separated from the daily operation of a company. Since a project is an undertaking of a company to attain some special assignments and tasks, it can be of different financial and operational sizes. Some projects can†¦show more content†¦A project team generally consists of people from different departments and backgrounds who are chosen by the project manager and/or senior management for the project’s successful completion. The proje ct manager, therefore, needs to be someone who has a variety of key soft skills and hard skills to lead the project with the help of the project team and complete it within the allocated time and budget. It is very important for a project manager to have a planned route to follow each step of the project. â€Å"By failing to prepare, you are preparing to fail† (Benjamin Franklin, n.d.). This saying by Benjamin Franklin should be the key mantra for every project manager. Lack of planning and preparation means a lack of planned route for the project team to follow. This is a perfect recipe for the failure of a project. Therefore, planning and preparing for every step of the project is very important. A planned project has a life cycle of its own. â€Å"Project life cycle is the series of phases that a project goes through from its initiation to its closure’ (Timothy J. Kloppenborg, 2014). Thus, a project has five phases – project initiation, project planning, project execution, project monitoring and control, and project closure. All of these five phases are very important for the successful completion of a project. Success of