Calaca, Hedjara M.

Management Science
December 13, 2022

A. Discuss the following items in 5 sentences per item 

1) Daily changes are being made to the project management environment. Before
adopting these trends occurring in the project management industry, we need
to understand the true value of project management. It's intriguing that, to our
knowledge, project management apps have been around for a much longer.
They were mostly utilized by the military and government, though. Henry Gantt,
who later played a crucial part in inventing and evolving project management,
started using online project management in the late 1950s, shortly after private
enterprises started to comprehend its advantages and instruments. Rewinding
to the twenty-first century, a PWC study found that a startling 97% of firms feel
project management is essential to achieving organizational success and
business performance. To ensure their overall performance, a growing number
of businesses are incorporating project management into their workflow and
testing out new project management solutions.

2) In planning phase, plan is made and strategies are set, taking into consideration
the company policies, procedures and rules planning provides direction, unifying
frame work, performance standards, and helps to reveal future opportunities and
threats In Planning, Planning examples are The Objectives of the projects in
definite words, Goals and stages immediate to attain the final target and etc.

3) Project management techniques are your procedure. They are your roadmap.
When you use a PM technique, you'll organize all the moving parts of your
project into a logical set of tasks, leaving nothing to chance. When you follow it
step-by-step, you'll ensure that you complete the project successfully.

B. Define the following terms 

1) Project management - is a process which includes the application of

different skills, methods, and tools to plan, organize, and manage different
 projects within specific parameters. It’s all about how to effectively manage
the flow of your projects so that each one is completed on time.
2) Project Planning - is part of project management, which relates to the use of
schedules such as Gantt charts to plan and subsequently report progress
within the project environment. Project planning can be done manually or by
the use of project management software.
3) Project scheduling - indicates what needs to be done, which resources must
be utilized, and when the project is due. It's a timetable that outlines start and
end dates and milestones that must be met for the project to be completed on
time.
4) Project controlling - monitors and compares planned objectives,
requirements, risks, schedules and budgets against what is actually being
delivered. The foundation of these planned metrics is derived from the original
business analysis identifying the project requirements
5) Critical Path Method – Is the management technique that derives the
critical path and also identifies the earliest and latest time these tasks can
start and finish without impacting the project end date.