The success of modern business depends vastly on proper planning and execution of resources. In a broader perspective any business needs to have a strong foundation in the form of project management. This term is very wide in terms of planning, organizing and managing resources. The success of the project depends on successful completion of specific project goals and objectives of a business.
A business is a group of interlinked activities and hence there are interdependent projects. In order to produce goods and services there are a lot of repetitive, permanent and semi-permanent functional tasks that are involved. For these tasks to be successfully executed there needs to be a project which involves technical skills and adoption of a separate management.
This also involves optimization, allocation and integration of inputs necessary to meet pre-defined outputs in the form of goods and services. Every project management adopts a traditional approach of Initiation, Project planning or Design Stage, Project execution or Production state, Project monitoring and controlling systems and the Project completion stage.
Within this approach there is the Critical Chain Project Management which is a method of planning and managing projects which includes a lot of tasks or events or a chain of events to be executed to serve a common goal or a business objective. A project will be successfully completed when the critical tasks are identified and timely solutions are provided. With the help of a project management software one can find effective solutions.
