Fundaments of Project Management - MIT School of Distance Education - PowerPoint PPT Presentation

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Fundaments of Project Management - MIT School of Distance Education

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The management of the scope, budget, risk and schedule of a project to satisfy the objectives of the stakeholders is called Project Management. We offer PGDM and PGDBA courses in Project Management in order to train the aspirants to hold this crucial position. Our courses are equivalent to distance MBA but better than it as the syllabus is updated regularly to match with the industrial trends. So, if you want to enhance your employability, then pursue PGDM and PGDBA courses from MIT-SDE. – PowerPoint PPT presentation

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Title: Fundaments of Project Management - MIT School of Distance Education


1
MIT School of Distance Education
  • Fundaments of Project Management

2
  • Project Management refers to the art of applying
    tools, skills, knowledge and techniques to meet
    the requirements of a project. An endeavour that
    is made for the innovation of a new product or
    service with a defined start finish and within
    a fixed budget is termed as a project. The
    management of the scope, budget, risk and
    schedule of a project to satisfy the objectives
    of the stakeholders is called Project Management.

3
Project Life Cycle
  • It doesnt matter whether your project scope is
    limited or vast, undergoing the project cycle
    phase is obligatory. Starting from the initiation
    to the completion of project, every phase is
    significant which facilitates the project to keep
    on track. Basically, the project life cycle is
    divided into five phases.

4
  • Initiation The basic step of initiation of the
    project includes identification of needs,
    opportunities and risks associated with the
    project. It also aims at looking for different
    ways through which problems can be solved. While
    creating strategies for the project, the project
    manager must act more as a leader as he has to
    direct the team and exhibit effective
    decision-making skills.

5
  • Planning Planning refers to creating a
    blueprint and roadmap of the project. Under this
    phase, the project is divided into smaller
    tasks/activities.  A budget is established and
    timeline for each project is determined.

6
  • Different teams are assigned with different
    activities according to their capabilities. Every
    team needs to complete its activity within time
    and budget which ensures that project end goals
    are achieved after combining all the activities.

7
  • Execution Once the project has been approved
    and the plan is created, its time to put it into
    action. In this phase, activities are executed in
    accordance to the plan. Project manager manages
    the time framework, monitors the given budget and
    directs the team members regularly so that they
    do not go off the track. Moreover, the manager
    has to be in constant touch with the clients or
    stakeholders to provide them with project details
    at every level.

8
  • Monitoring and Controlling At times, certain
    factors may limit the effectiveness of the
    project. Furthermore, there might be bottlenecks
    in the project. In the phase of monitoring and
    controlling, project manager ensures project
    activities take place without any hindrance.   

9
  • Closure This is the end phase of the project
    life cycle which takes place once the project has
    been completed successfully and the deliveries
    are made. In this phase, the project manager
    examines project performance as well as team
    performance.

10
Project management verticals
  • Project management is a wide concept that is
    applicable at every step of the project from its
    initiation to its completion. It essentially
    looks into different areas including stakeholder
    management, risk management, communications,
    people management, integration, scope, time,
    cost, quality and procurement.

11
  • So, these were the fundamentals of project
    management. Project management professionals are
    paid well and they enjoy a lucrative career as
    they play a significant role in project
    completion. We offer PGDM and PGDBA courses in
    Project Management in order to train the
    aspirants to hold this crucial position. 

12
  • Our courses are equivalent to distance MBA but
    better than it as the syllabus is updated
    regularly to match with the industrial trends.
    So, if you want to enhance your employability,
    then pursue PGDM and PGDBA courses from MIT-SDE.

13
  • THANK YOU
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