Project Management Features and Functions
Project management is a methodical approach to planning and guiding project processes from start to finish. According to the Project Management Institute, the processes are guided through five stages: initiation, planning, executing, controling, and closing. Project management can be applied to almost any type of project, and is widely used to control the complex processes of software development projects.
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Project Management Type
Project management type refers to the type of project management software. It should not be confused with types of projects like construction projects, information technology (IT) projects, manufacturing projects, etc.
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Project Initiation
Project initiation modules provide users with all of the templates required to initiate a project. They helps users document business cases, undertake feasibility studies, define project scope, and recruit staff and locate them within a project office.
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Project Planning
Project plans list the phases, activities, tasks, and resources required to complete projects and to realize the business benefits outlined in the project business case.
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Project Execution and Management
Two major functions involved in a project are project planning and project management. After planning and defining the work, managing the different components is the next task. Time managment, issue management, risk management, resource management, etc. fall under this category.
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Project Tracking and Control
Project tracking accurately follows projects in real time, optimizes resources using instant project feedback, reports project costs, and analyzes project profitability. Dates and activities are also tracked.
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Project Tools and Templates
Standard tools and templates help manage, execute, and track projects for better communication, status, meetings, project management processes, and deliverables. Tools and templates benefit projects by reducing time and cost, and give better visibility to the project's function and status. Tools include Gantt and program evaluation and review technique (PERT) charts, critical path method (CPM), milestones, etc.
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Project Closure
Project closure is the final phase of project management. Project closing or project phase closing is important to a project and to future projects because it informs everyone involved of problems, issues, triumphs, and failures that influenced the outcome of the project.
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Portfolio and Project Management Features and Functions
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