Basic Concepts of Project Management - Free download as PDF File (.pdf), Text File (.txt) or read online for free. Usually created by a Project Management It has three key features to distinguish it from other forms of management and they include: a project manager, the project team and the project management system. • Tasks: Also called Actions.Activities undertaken during the project • Risks: Potential problems that may arise • Issues: Risks that have happened • Gantt Chart: A specific type of chart showing time and tasks. An Introduction to Project Management The purpose of this briefing paper is to introduce key project management terms and concepts to provide a common language for discussion, including what is: • A project • Project management • Project success • A project manager • A project management plan Chapter 1 Introduction to Project Management 1 1.1 Chapter Overview 1 1.2 Projects and the Business Environment 1 1.2.1 Key Project Management Concepts 2 1.2.2 Terminology 3 1.2.3 Characteristics of Projects 4 1.2.4 Projects in the Business Environment 5 1.2.5 Strategic and Tactical Projects 6 1.2.6 Projects and Programs 7 1.3 The Life Cycle 8 •Deliverables: Tangible ‘things’ that the project produces • Milestones: Dates by which major activities are performed. Figure 1 illustrates the concept. The project management system comprises organization structure, information processing and decision- These factors are pinnacles, with quality at the centre of the triangle. Linked to the understanding of project management, is the Project Management Triangle. Project management is a distinct area of management that helps in handling projects. FIGURE 1: PROJECT MANAGEMENT TRIANGLE (Source: Haughey, 2011) Initially, the triangle consisted of three factors: time, cost and scope.