Romney Institute Of Public Management

The traditional approach to project management was a predictive approach, where everything was planned in advance- the goals, features of the outcome, and the tasks and times involved. However, complex projects, particularly projects with no precedents and hence involving a lot of uncertainties made a predictive approach impractical.

Project Definition

Projects are finite endeavors that require a different approach to management compared to managing operations of, say a manufacturing business with repetitive operations. Each project has its own specific goal that typically involves adding some value or making some beneficial change. Projects will also have time and cost constraints, i.e. they will have to be completed within a specified time and within a specified cost budget.

Project implementation typically involves four stages, viz.

• Initiation
• Planning & Design
• Execution and
• Closing

The implementation also involves systems for Monitoring & Control. Another key dimension of project implementation is the need for resources, such as know-how, money, equipment, manpower and time.

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