Project Management Literature Review

Project Management Literature Review

Liberty University

Abstract

Project management is the systematic application of knowledge, skills, tools and techniques to a broad range of activities in order to achieve predetermined project requirements effectively and efficiently (Project Management Institute, 2015). Project management is comprised of five process groups including initiating, planning, executing, monitoring and controlling, and closing. Projects are undertaken for the purpose of making a change within an organization in order to move the organization closer to achieving its strategic plans. The intent of the project should be to solve or explore an identified business problem, address a business need or exploit a business opportunity. In order for the project to be successful it must have the support and backing of senior leadership and be managed by a project team that can communicate its importance to everyone in the organization. To begin, the project team leader identifies the stakeholders who have the ability to reinforce, support or impede the project’s progress. Managing a project’s life cycle is a continuous balance between time, cost, resources and scope of the project. Executing a systematic process to address present and future business opportunities is essential for the profitability and viability of an organization. The established and proven steps available from professional organizations offer project managers the tools and techniques to lead successful projects and the flexibility to achieve organizational strategic goals.

Project Management Overview

According to the Project Management Institute (PMI) (2013), a project is “a temporary endeavor undertaken to create a unique product, service, or result” (p. 2). Projects are temporary organizations that are created in order to deliver a beneficial change (Turner, 2008). At a minimum, the temporary organization must be managed, with well-defined objectives and adequate...