A project is a temporary endeavor undertaken to create a unique project service or result. Projects usually include a series of interrelated tasks that are planned for execution over a fixed period of time and within certain requirements and limitations such as cost, quality, performance and others.
Each project is unique in nature where no two output would be exactly similar.
Every project has a definite start and end date. The start represents initiation phase while the end represents the closure of the project.
As the project progresses, continuous investigation and improvement become available which allows for producing more accurate and comprehensive plans.
Project management is the focus on organizing, tracking and executing work within a project. Project management is time-bound, and optimization primarily occurs once the project is complete where improvements are made only applied to the next project. The primary purpose of project management is to create process change and improvement.
When you have a project in hand, you must remember to manage tasks on a daily basis. If daily task evaluation is not an option for you, you must have a meeting twice a week. It is also important to communicate and keep your stakeholders updated on the project progress. This keeps everyone focused on their responsibilities and prevents scope creep from happening.
The time invested and the money spent are two of the most important metrics to understand your projects better. When you keep track of these things, you would be able to calculate revenue and make reports to compare the projects.
When you have done enough projects, you get an idea of what works and what does not. Plan your projects according to your previous experiences, seek professional advice, or refer to lessons learnt from past projects. It will help you complete the tasks faster and more efficiently.