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Project management is the practice of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria at the specified time.
A software tool for project management gets everyone online and maintains a central repository of information.
Five Factors That Lead to Successful Projects
1. Smart People
Without the right team in place, any strategy and plan has the potential of completely falling apart. Because of this, the core project staff, expert resources, suppliers and all stakeholders should be part of the team dynamic.
2. Smart Planning
Comprehensive planning sets up a project for success from the start.
3. Open Communication
Looking closely at details and listening to outside sources of information is vital to the success of a project. Keeping open communication within the team is absolutely essential.
4. Careful Risk Management
Having a central online database of project information is vital to ensure you don’t lose crucial project momentum during the project.
5. Strong Project Closure
If a project does not have strong closure, then it has the potential to continue to consume resources. The project team must be firm and agree with the customer that all critical success factors have been met.