Running Head: PROJECT MANAGEMENT                        1
PROJECT MANAGEMENT                                    4
WEEK 1- INTRODUCTION TO PROJECT MANAGEMENT
Abstract
Project Management shows the approach and gives an idea of how to achieve the project goals. Project management is a tool that combines all the resources, which is part of the project and executes the plans. This assignment gives a brief about project management, phases and life cycle of project management.
Table of Contents
Abstract    2
Introduction to Project Management - What is a Project    4
Difference between Projects and Operations Management    4
Benefits of Project Management    5
Project Lifecycle— Phases of Project    6
Project Initiation    6
Project Planning    6
Project Execution    7
Project Monitoring and Controlling    7
Project Closure    7
Conclusion    7
References    8
Introduction to Project Management - What is a Project
In the early 1900, project management developed from the connection of several different engineering backgrounds. Until the 1950s, no modern tools and techniques were developed for project management. At that time, project management became a definite and noticeable mode that is mostly used in engineering projects.
In the 1969s, the first organization officially formed, which names the project management institute and abbreviated as PMI. Over the next many decades, project management institute plays a vital role on larger scales and hardens the project management. Historically project managers trained for project management but modern project management is different and flexible to learn.
Difference between Projects and Operations Management
Project Management comprises objectives, planning, execution and closing. The project manager is responsible for coordinating with resources that are available and taking care of work that is assigned that will be executed properly under the given budget. On the other hand, operation management is a process of taking care of overall business operations, working efficiently and delivering things to the customers in an easier manner (Papke-Shields & Boyer-Wright, 2017).
In operation management, there is also an operation manager who takes care of the things and sees the core business process, which converts the input into the output that is transforming the raw material into the finalized products. The main difference between project management and operation management is that project management creates unique outputs and operation management generates the static output.
Project management tries changes until it does not meet the customer demand or by providing new offers (Radujkovic & Sjekavica, 2017). Operation management continuously tries to develop the new process in the makings of products. Project management works on limited budgets but operation management tries to make profitable products. Based on the business objective, it tries to achieve new...