# Project Management — One-Page Notes
**Project Management** is the process of planning, organizing, executing, monitoring, and
completing a temporary set of activities to achieve specific objectives within defined **scope, time,
cost, and quality** constraints.
## Key Characteristics of a Project
* Has a clear **goal or objective**
* Has a defined **start and end date**
* Uses limited **resources, budget, and people**
* Produces a unique **product, service, or result**
* Involves uncertainty and **risk**
## Main Phases of Project Management
**1. Initiation**
Identify the need for the project, define objectives, assess feasibility, identify key stakeholders, and
obtain approval.
**2. Planning**
Develop the project scope, schedule, budget, resource plan, risk plan, communication plan, and
quality requirements.
**3. Execution**
Carry out the planned work, manage the project team, allocate resources, communicate with
stakeholders, and produce deliverables.
**4. Monitoring and Control**
Compare actual performance with the plan. Track progress, costs, quality, risks, and changes, and
take corrective action when necessary.
**5. Closure**
Complete and hand over deliverables, obtain final approval, close contracts, document lessons
learned, and formally end the project.
## Major Project Management Constraints
The traditional **Triple Constraint** consists of:
* **Scope:** What work must be completed?
* **Time:** When must the project be completed?
* **Cost:** How much can be spent?
Changes in one constraint usually affect the others. **Quality** is influenced by how effectively
these constraints are balanced.
## Important Project Management Tools
* **Work Breakdown Structure (WBS):** Breaks the project into smaller, manageable tasks.
* **Gantt Chart:** Shows tasks, durations, dependencies, and project schedule.
* **Critical Path Method (CPM):** Identifies activities that directly affect the completion date.
* **Risk Register:** Records risks, probability, impact, and response plans.
* **RACI Matrix:** Defines who is Responsible, Accountable, Consulted, and Informed.
* **Project Dashboard:** Tracks important performance indicators and project status.
## Role of a Project Manager
A project manager is responsible for:
* Setting clear goals and priorities
* Planning schedules and budgets
* Leading and coordinating the team
* Managing stakeholders
* Identifying and controlling risks
* Managing changes and conflicts
* Monitoring project performance
* Ensuring successful project completion
## Common Project Management Approaches
**Waterfall:** Sequential approach where each phase is completed before the next begins. Suitable
when requirements are stable.
**Agile:** Flexible and iterative approach where work is delivered in small increments. Suitable
when requirements may change frequently.
**Hybrid:** Combines traditional planning with Agile methods.
## Key Success Factors
A successful project requires **clear objectives, realistic planning, effective communication,
stakeholder involvement, strong teamwork, proper risk management, regular monitoring, and
controlled changes**.
**In short:** Project management ensures that the **right work is completed by the right people, at
the right time, within budget, and at the required quality level.**