A project is not a whole time activity. It always has a start date and end date. The duration of the project depends on the size of the project. A project is always guided and lead by a set of instructions and plans. A project always has a deadline within which it has to be completed and handed over to the required authority. The project will consume more than the estimated cost if it is not completed within the deadline. A project is a pooling up of men, money, materials and other resources for the achievement of a specific goal. A project is an effort of a group of people. A project is done in different phases. The different phases of a project are initiating stage, planning stage, executing stage and controlling stage. The initiating stage of the project is where the project idea is generated. A structure has to be given to the generated idea before it is being carried foreword. This structure is given in the planning stage. The executing stage of the project is the most crucial stage. It is where all the resources are pooled up properly. This is the stage that requires more cost. In the controlling stage the project is examined and reexamined for any deviations. Corrective measures are taken for controlling the deviations that have occurred. A project is entirely different from business in the sense that the project is for a specified period whereas the business is a continuing process.
Therefore, in simple sense project management refers to the managing of all the activities concerned with the successful implementation of the project. Managing a project is a complex task and managing that complex task is the duty of the project management experts. The techniques used for the management of the project differ from the nature of the project. The project management is done by a team of experts comprising the executives at different level of specialized activity and a project manager to look after the overall performance of the project. A project may be of any nature. It may be the construction of a building, a software development etc. The project management team must have better and deep knowledge in the particular project they are to manage. Other wise the project idea will lead to wastage of resources. The person who is in charge of managing all the activities of a project is known as project managers.
The primary duty of a project manager is to manage the successful implementation of the project with minimum risk. The role of a person as a project manager is very wide. "A project manager is the person who has the overall responsibility for the successful planning and execution of a project." (Role of the project manager, Project Smart 2000-2007) http://www.projectsmart.co.uk/role-of-the-project-manager.html He is the person who is responsible for the shortfalls in the project implementation stage. He should be keen on selecting the methods and tools, minimizing risks and settling disputes. The project manager must be aware of the possible risks in the project execution process. The risk must be managed by the project manager formally and informally. The primary focus area of a project manager must be the possible risks associated with it. The project manager must be very much concerned with everyone who is associated with the project. He must value the opinion of others