Chapter 3, Problem 5E

Program Plan Intro

Project management:

• The ability to plan the budget, list the resources and identify the cost of available resources to complete the project is termed as project management.
• It monitors the activities or tasks related to a project.
• It includes the tasks like planning, organizing, motivating, monitoring and controlling.
• All these tasks are monitored and managed by project manager.

PMI’s project of the year award:

• The award is given to the best and complex project that includes superior project management practices.
• It gains the efficient organizational results.
• It has good impact on the society.
• The project must include more than $100 million budget.