Project Management

AAA

DEFINITION of 'Project Management'

The planning and organization of an organization's resources in order to move a specific task, event or duty toward completion. Project management typically involves a one-time project rather than an ongoing activity, and resources managed include both human and financial capital.


A project manager will help define the goals and objectives of the project, determine when the various project components are to be completed and by whom, and create quality control checks to ensure that completed components meet a certain standard.

INVESTOPEDIA EXPLAINS 'Project Management'

Project management is often closely associated with engineering projects, which typically have a complex set of components that have to be completed and assembled in a set fashion in order to create a functioning product. Project managers use visual representations of workflow, such as Gantt charts and PERT charts, to determine which tasks are to be completed by which departments.

RELATED TERMS
  1. Critical Path Analysis

    A project-management technique that lays out all the activities ...
  2. Gantt Chart

    A Gantt chart is a visual representation of a project schedule. ...
  3. Materials Requirement Planning ...

    One of the first software based integrated information systems ...
  4. Manufacturing Resource Planning ...

    An integrated information system used by businesses. Manufacturing ...
  5. Triage

    A process-management term predominantly seen in hospital and ...
  6. Assembly Line

    A production process that breaks the manufacture of a good into ...
Related Articles
  1. Evaluating A Company's Management
    Active Trading Fundamentals

    Evaluating A Company's Management

  2. Get Tough On Management Puff
    Markets

    Get Tough On Management Puff

  3. Governance Pays
    Options & Futures

    Governance Pays

  4. Putting Management Under The Microscope
    Options & Futures

    Putting Management Under The Microscope

comments powered by Disqus
Hot Definitions
  1. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  2. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  3. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  4. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  5. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
  6. Limit-On-Open Order - LOO

    A type of limit order to buy or sell shares at the market open if the market price meets the limit condition. This type of ...
Trading Center