Definition of Project Management

In order to understand the definition of Project Management we need to understand what Project is. Project is a temporary endeavor undertaken to produce a unique product or service within a specified time.

Project Management move around three parameters - Time(Scheduling), Cost and Quality(Performance). Project must be completed in agreed time, it should be completed in estimated cost and the project shall meet the Quality settled.

Comments

Agriculture or Industry? The best for Pakistan.

Pakistan is bestowed with rich natural resources that are Minerals, Oil and Gas, Aquatic animals, Forest and Human resource of course. With growth rate of 2.2%(2011) and per capita income $2400(2010). Unfortunately we could not manage all the aforesaid resources and as a result we are now one of the Under Developed Country (UDC) of the globe. Here we should not concentrate on the reasons behind for our backwardness deeply. But we can predict our destination by a simple analyses that is, “Whether Agriculture is best or Industry, for our country prosperity?”. This question may help us in deciding what path should be selected to make Pakistan a developing country. It is said that Agriculture is the back-bone of our country but to an extent it may be true but in long run it is false. About 70% of our country population is based on Agriculture. But on the other hand it makes 19% contribution is Gross Domestic Product (GDP).On the other side Industry contribution in GDP...

Cost and Management Accountant last hope for Pakistan Industries.

There are various Professional institutions in Pakistan like; Institute of Cost and Management Accountant of Pakistan (ICMAP), Institute of Corporate Sectaries of Pakistan (ICSP), Pakistan Institute of Public Finance Accountants (PIPFA) and Institute of Chartered Accountant of Pakistan (ICAP). ICSP members works as Company secretaries for large organizations where they deal in company affairs PIPFA and ICAP members works in finance and Accounts at middle levels and majority Chartered Accountants are also employed in companies as Auditors where they just audit companies accounts instead of value addition in business. Pakistan with weak industry, under deep crisis need survival. Most of the industries working in Pakistan are generating very low profit the reasons may be that these having high production cost or higher Cost of sale, or having unskilled labours or lack of Professionals like; Cost Management Accountants or Industries do not have sufficient capital to invest for e...

10 Reasons why Business Graduates preferred to be CEO.

(Compare with Engineering Graduate.) As the time passing, competition among organization is increasing. Every organization is adopting every sort of tactic, like by providing the best services to their customers by utilizing up-to-date technology. As the ultimate objective or goal of any business concern is to earn profit. The profit is mathematically defined; Profit = Revenue-Cost. Every firm wants to get maximum revenue against low cost of product. This objective is achieved by applying four basic function of management that are; Pla...

Asad's Business and Technology Articles

Search This Blog