A Project is defined as the collection of activities by an individual or a team to achieve a particular objective(s). Thus, a project has 4 stages or phases as shown below: Initiate, Plan, Execute & Closure. Project Management is about planning, monitoring and controlling project direction through risk management to achieve the project objectives within time, under budget and above the quality expectations.
Thus the Project management is the application of processes, methods, knowledge, skills and experience to achieve the project objectives, along with time duration, quality and control.
Software projects can be of the following types: exploratory, development, and maintenance.
An exploratory project focuses on exploring the feasibility of certain capabilities, mostly technologies and their integration. For example, could one put alerts from an ERP on iwatch?
A development project necessarily leverages known technologies and application architecture to ensure smooth development of defined features.
A maintenance project is really about an established application that needs to be supported through defect fixes and additional feature development of any.
A typical software project can consist of some or all or all of the components shown in following figure. As one can imagine, this large number of items involved create challenges of delivering software project in time, under budget and above quality.
Project Management Institute (http //www.pmi.org/) reports that about 45% to 60% of project fail due to different reasons, but almost always due to either bad planning or bad execution. In our experience, most project fails due to one of two reasons:
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