If one can transform his/her thought into concrete action then success is not a far-fetched dream. Of course, transforming thought into action is a giant leap, agreed it is difficult but it is something which is achievable. During that giant leap many risks are undertaken. One has to plan for all sorts of eventualities and lay down concrete steps which have to be completed to reach the final goal. This visualization of ideas and planning of execution of idea is what makes up project management. The project is the execution of the idea and achieving goals and the management is the analysis, strategizing and planning required to execute the idea and convert it into action.
Even in project management there are a lot of uncertainties which a project manager has to guard from. A big part of project management depends on the identification and factoring of risks in the planning to prevent any kind of delays in execution. Despite the risk factor, the project manager has to ensure the smooth execution of the project work.
For this a proper and detailed plan of execution is required. The project manager should start by first setting the motive, goals and targets that the project should achieve. Once done, a high level strategy of how the target is to be achieved should be outlined, identifying the various channels which would be used. This high level strategy serves as a road map towards the achievement of the goals, this then needs to be broken down into smaller milestones and targets with tasks that need to be completed along with a timeline. All these put together makes a strong project plan and will help the project manager ensure that the targets are achieved and the project runs as scheduled.
Throughout the process, there is several Project Risk Management faced by an organization. Each decision maker should be well prepared for any outcome and take the risk. Certain Risk factors include costs, delay in schedule, shortage of raw materials, shortage of human resources, lack of infrastructure and political uncertainties. Amidst all this, a Project Manager must implement the project work as it is critical for a company’s reputation. In this the project plan established will help and guide the project manager.
In any economy, there are several wants and needs that arise amongst the government organization, people or other clients. They include demand for infrastructure, new product or services, scientific machines etc. These projects can be of varied strengths. The project plan established will ensure the conversion of ideas into action and help in project management by ensuring completion of work in a timely fashion.
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