Mb0049 Assignment Submission


maximise the returns. Faced with unprecedented growth in business, today’s corporate worldneeds proper and effective project management. Hence efficient and effective project managershave become the need of the hour.More and more companies across the globe are adopting the practices of managing projects andlooking out for skilled managers and practitioners. This has increased the demand for projectmanagers globally. Hence, we advise you to read and understand the concepts of projectmanagement as discussed in this book.This book focuses on the development, maintenance, evaluation, promotion and administrationof projects. You will be able to understand the concepts in project management and prepareyourselves to handle projects since most of the concepts in this book are explained adopting practical approach. You will also be able to understand the application process in projectmanagement.In this unit, we would first attempt to explain project management through a preview of globallyrecognised best practices. These best practices form a part of managing projects of all sizes andtypes in virtually any domain of business. Various sections and sub-sections of this unit wouldcover key aspects, definition and basics of project management.

Learning Objectives

By the end of this unit, you should be able to:

· Recall the basics of project management.· Recall the definitions, terminologies and concepts in project management· Recognise the importance of project management in business· Describe the scope of project planning and its phases· Describe the role of project manager · Recognise the reasons for project failure

Self Assessment QuestionsTrue or False?

1. The economy of India has been growing over the last few years.

1.2 Definition

Let us look at the definition of some vocabulary that you will often encounter in a projectmanagement discussion.

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