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Retail / Product (project management)

Product (project management)

Project management is a carefully planned and organized effort to accomplish a specific (and usually) one-time effort, for example, construct a building or implement a new computer system. Project management includes developing a project plan, which includes defining project goals and objectives, specifying tasks or how goals will be achieved, what resources are need, and associating budgets and timelines for completion. It also includes implementing the project plan, along with careful controls to stay on the "critical path", that is, to ensure the plan is being managed according to plan. Project management usually follows major phases (with various titles for these phases), including feasibility study, project planning, implementation, evaluation and support/maintenance. (Program planning is usually of a broader scope than project planning, but not always

In project management, a product is a physical entity that is created as a result of project work. Another term for it is deliverable.

Two kinds of products are created in a project (as per PRINCE2 terminology):

  • specialist products, i.e. the intended results of project work:
    • installed software
    • erected buildings
    • trained people
  • management products, i.e. (usually) documents used to manage the project:
    • business case
    • project plan
    • reports

The injection of specialist products into the organization or its environment should be both a necessary and a sufficient condition to bring about changes resulting in achieving project objectives. One of the tools to test that relationship is Goldratt's Future Reality Tree.

To develop a better understanding of project's products, one can construct a product breakdown structure or write product descriptions.

See also:

  • list of project management topics
  • scope creep
  • Product (business)
  • project objective

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