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  • June 15, 2024
  • Last Update May 7, 2023 10:40 am
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In this chapter we explore an idea and a practice that has grown in importance as organizations became more complex and are continuously evolving and implementing new ideas, products, and services or seek to boost existing ones. a corporation will create a project as the way to focus resources on a chance or issue and to serve as some way to effectively organize its efforts to attain a selected goal or objective. in a very small firm, practice, or business, a project may be the installation of a replacement accounting computer code or the introduction of a replacement product or service. In large, complex organizations, several projects could also be live at the identical time, with some midlevel managers whose only responsibility is that the management of a stream of these short-term assignments. within the dynamic nature of today’s organizational environment, project management is a vital concept and tool to know and effectively implement.

According to the Project Management Institute (PMI), 74 percent of all projects fail. The projects can fail from a processes standpoint (initiation, planning, executing, controlling, or closing), or they’ll fail from a weakness in project dynamics (scope, time cost management, quality management, human resources management, communications, or risk). Project management covers a large range of topics and issues and is defined because the application of data, skills, tools, and techniques to a broad range of activities to achieve a predetermined goal or objective. (See Figure 11.1.)

project management
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