Project Management

Project management is a phrase that is a term that we are familiar with, especially in commercial settings. However, not everyone knows what project management is and what its functions are. So please read the following Vix Office article to learn more with us right now.

1/ The definition of project management

Project management is the using of information, skills, tools, or strategies to satisfy the needs of completing the assigned project stages. This is called project management. The essence of this is developing implementation plans or ensuring that each project is checked, monitored, and also completed in order to meet the established objectives. The management process is carried out using the most efficient applications in accordance with the management processes in order to achieve the highest level of efficiency.

In which, the management is considered as the permanent efforts to implement and carry out for creating a product or service.

For example:

• Implementing the new compound in a market
• Implementing the business process improvement in an organization
• Creating software programs

So, project management is not a new concept today, but it has been born and used as well as collected many large projects in Vietnam.

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The importance of project management for business

2/ Functions of Project Management

All achievements are due to project managers who know how to apply or practice the Project management’ s function:

• The planning creation function determines the project’s goals, work load, and resource estimates, which may include public investment projects or BT initiatives.
• Assignment of various responsibilities and resources, such as financing, particular work, personnel, equipment, time management, and so on, reflects the project organization function.
• The project leadership function follows the plan and achieves the defined objectives.
• Project management is in charge of overseeing and directing all project activities. This entails keeping track of the entire process, assessing live progress, studying the market, and finally compiling a report and evaluating the results. Project managers also give recommendations for plans and solutions to problems that arise throughout the project’s implementation.
• The task of coordinating with other departments and resources in order to accomplish the project in a timely and efficient manner.

3/ Project management process

Project management is a process of performing the work that has been setup in accordance with the project manager’s regulations. The cycle of each project is different from conception to implementation with the aim to achieve the best results. The implementation process takes place in the following 4 stages:

• Step 1: Project formation: It is a step that creates ideas and proposals for the project. This step will pay attention to some goals such as scale management, objectives, and feasibility reviews while also providing rapid estimates to assess the project’s implementation potential and provide recommendations. Whether or not to implement it is a decision that must be made. 70 percent of the time, this step will be successful.
• Step 2: Project development: This step includes project design and evaluation. To be able to execute and distribute resources correctly, managers will need to establish and plan.
• Step 3: Project development and Maturity: Training, information, and specific plans or designs for each project activity, as well as work implementation, are all tasks at this level. From there, keep an eye on the project’s management, and recovery status. The project should be kept to a maximum of 5% control at this period.
• Step 4: Project complement: This is the point at which the entire work process and the objectives must be completed. In addition, staff must be transferred, synthesis must be conducted, and the project’s results must be evaluated.

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Project process for customers

As a result, project management is divided into five categories:

• Project Initiation: The beginning of a project and providing the ground work for all subsequent activity.
• Project planning is the stage in which you demonstrate your management abilities by coming up with new ideas. The manager divides the activities and creates a detailed plan for each action, which he then distributes to each individual and group.
• The monitoring and control process is used to track and understand the project’s progress, as well as to identify risks and problems that may arise.
• Closing the project: After the project has been turned over, the project manager assesses, evaluates, and draws lessons for himself before moving on to the next project.

4/ Project management organization model

There are many projects but significantly three models:

• Project management – this is when the investor is in charge of the project directly: This is a management paradigm in which each investor uses the tools at their disposal to control operations, project progress, and department creation. Each project has its own management team.
• Project management – The investor is in charge of project management: This is a model in which the investor delegated management authority to the management department or hired another company to operate the business instead of operating it personally.
• Project management with a turnkey approach. This is a concept in which the investors will entrust the project’s completion to one or more connected contractors. It will be turned over to investors for exploitation and use once it is completed.

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5/ Tips for good project management

Always be aware of the project’s scope

Each project is meticulously planned and executed. As a result, managers must divide large projects into smaller initiatives in order to manage and execute them efficiently and on time. Understanding the scope of the project is more crucial for effective project management than researching, evaluating, and implementing the plan according to the scope.

Know how to divide work into definite and unambiguous sections.

Assigning the most reasonable job to each human resource is the best method to ensure success. The manager must be aware of the number of teams working and must assign tasks to each group. Furthermore, if there are too many implementers, the process of monitoring, checking, and inspiring individuals to work on the project would be tough.

Maximize resource mobilization for the project

The management must mobilize maximum corporate resources from many connected departments to affirm the project’s relevance in order to achieve smooth project implementation and high efficiency. For example, in the sector of information technology, you must invest and offer personnel with required resources if you want to have competent staff and ideas for new initiatives.

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Set up project control department

It is vital to have a daily control department accompanying each step of the project implementation to review policies, strategic direction, and quickly handle difficulties and problems that arise during project implementation. judgment.

These concerns must be presented during the management meeting, the board of directors, and proposed plans, which will be divided among members of the control department to settle and terminate in order for the project to proceed.

Carry out supervision of a project

Don’t put too much pressure at work

Every work has pressure, and implementation are no exception. Pressure generally comes from leaders to personnel. As a result, managers must keep an eye on themselves and their staff to prevent putting them under stress. Because work is vital, but putting employees under duress is not. After a long and stressful day at work, employees require time to recuperate and unwind.