Why Is There A New Or Renewed Interest On The Field Of Project Management?

1309 Words Sep 10th, 2016 6 Pages
Why is there a new or renewed interest in the field of project management?
Project management is not something new and has been around since late 80’s. It was for so long only thought to be related to IT projects but now PM has showed that no matter what type of business you work in PM not only should be a part of but now a requirement for every business. PM provides structure to the overall project and if done correctly can greatly improve the chances of success. PM brings together all the resources needed for a project and takes ownership for the success of the overall project.
What is a project, and what are its main attributes? What is the triple constraint? What other factors affect a project?
A project is “a temporary endeavor undertaken to create a unique product, service, or result” (PMBOK Guide, 2012). A project is unique and temporary in nature and should not be confused with day to day activities. Projects has definite goal and resources which have a clear starting and ending timelines. Project management is a balancing act of the triple constraints, which are scope, time and cost. Other factors that influence and effect a project are quality, human resources and stakeholders are just a few.
What is project management? Briefly describe the project management framework, providing examples of stakeholders, knowledge areas, tools and techniques, and project success factors.
Project management is “the application of knowledge, skills, tools, and techniques to project…

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