Consequently, a new body of knowledge was evolved, which came to be known as Project Management. Over the years, the science of Project Management has developed enormously and many scholars and practitioners have introduced various tools and techniques to enrich it. Internet, computers, project management software etc have enhanced the pace of development of project management.
Successful completion of project on time with the use of limited resources and minimum cost is the main objective of project management. But, project management in modern times is no longer possible by paying attention towards resources, cost and time alone. The project managers are forced to look beyond time, cost and resources. The traditional tools and techniques such as Gantt chart, PERT/CPM networks became powerless and attainment of project objective remained a dream for the competent project managers. A careful analysis has been made in various areas of project management and finally reached a way-out that project managers need to have a check on the rapidly changing environment in which the project needs to be materialized
Every project is carried out in a set of complex factors. The totality of all such factors is known as project environment. ...Show more