This Master course of Project management can be defined as the discipline of applying specific processes and principles to initiate, plan, execute and manage the way that new initiatives or changes are implemented within an organization. Project management is different to management of business as usual activity, which is an ongoing process, as it involves creating new work packages to achieve agreed ends or goals.

Key components of project management are:

· Time – the intended duration of the work

· Cost – the budget allocated for the work

· Scope – what innovations or changes will be delivered by the project

· Quality – the standard of the outcome of the project.

Increasing or decreasing any one of these components will affect the others.

For example, reducing the time allocated to complete the project will also reduce the amount of work that can be done (scope), which may then affect the quality and the cost of the project.

Project management stages

Although there are different project management methodologies and approaches, most projects follow these stages:

· Initiating the project – the project manager defines what the project will achieve and realize, working with the project sponsor and stakeholders to agree deliverables.

· Planning – the project manager records all the tasks and assigns deadlines for each as well as stating the relationships and dependencies between each activity.

· Execution – the project manager builds the project team and also collects and allocates the resources and budget available to specific tasks.

· Monitoring – the project manager oversees the progress of project work and updates the project plans to reflect actual performance.

· Closing – the project manager ensures the outputs delivered by the project are accepted by the business and closes down the project team.

Project managers are responsible for realizing the projects they work on, so they need a wide range of skills including good verbal and written communication, leadership, planning, problem solving, time management and negotiation. As the project manager role now goes beyond basic implementation of the project plan, they also need good customer relations and business skills in addition to their traditional capabilities.

In this master course you will learn the 5 Major topics:

1. Introduction of Project Management, Stages, and Purpose

2. Steps of project selection and project planning with criteria

3. Principles of Budgeting, Controlling and Monitoring

4. Major steps and key areas of Project risk management

5. Project Audit process and quality management