Project Management Concepts – Essay Example

Project management implies to work effectively to coordinate and manage individuals to complete a planned task or goal (McDonough, . It requiresthe application of personal skills and knowledge to meet the requirements of the project. A balance of all the variables in a project - cost, time, stakeholders, scope, planning and constraints can lead to the success of the project.
Life itself is a project and one has to work within the allotted time, money and other constraints. The scope has to be defined by the manager at the work place and the individual in his personal life. Without defining one would tend to just walk without any direction. Once the scope has been defined, planning has to take place because one has to manage within the constraints.
If people claim they do not have time to execute a particular job, they have failed to give priority to that task. This means time can be ‘managed’ by people as they want. The first lesson in management is to learn to manage the personal life without which it is not possible to manage an organization. In order to meet the timelines and to remain within the allocated budget, compromise on quality is likely. Money is always a constraint but if one has unlimited money one would get lost. The salary at the end of the month is a fixed amount and one has to manage within this. Change in timeline can affect costs and hence planning and scope may need to be redefined. Stakeholders in personal life include the family and the staff at the workplace. Any changes, can adversely impact the family and the organization. Hence, the project management concepts should be used in personal and professional life.
McDonough, M. (2010). Key Concepts in Project Management. Available at: (accessed 14 August 2010).