Project management (PM) is a well planned approach for a process from start to end. It is concerned with the planning and guiding of the project from start to finish. Any process needs to be guide in usually five stages. They are initiation, planning, execution, controlling and closing. PM can be applied to almost all type of projects but especially it is applicable in software development projects to control the complex process. It is an organized effort and it is planned very carefully. To accomplish a specific project, PM is essential.
PM is handled by project manager to implement the project successfully towards its goal. For successful completion of any project it is necessary to have a proper PM. The main objective of the PM is to attain its goal successfully.
Numbers of approaches are there to manage the activities of the project. They are:
The traditional approach-This approach aims towards the completion of the project in sequence or in traditional manner. For the completion of the project there are five stages in this approach. They are:
* The stage of initiation
* The stage of design or planning
* The stage of production or execution
* Monitoring and controlling systems
* The stage of completion
Extreme PM- To execute project task, the critical chain project management give more emphasis to human and physical resources. By this method of planning and managing projects all the constraints are exploited and priority is also given to it. In critical chain project management all the projects are planned and managed only when the resources are ready.
Extreme PM- Complex type of project is handled in extreme PM. In this PM experts always try to identify the different models which is ‘light weight’ such as Agile Project Management.
Scrum techniques and extreme programming for the development of software are used in this method. It is the combination of management of human interaction and process modeling.
Event chain methodology- The complement to the critical path method and the methodologies of critical chain project management is another method that is Event chain methodology. This PM deals with the model of uncertainty. The main focus of this management is towards identifying and managing the events or the chain of events which will affect the schedule of the project. Event chain methodology follows the following principles:
* Event chains
* Tracking with events
* Probabilistic moment of risk
* Tracking with events
* Event chain visualization