IJIRST (International Journal for Innovative Research in Science & Technology)ISSN (online) : 2349-6010

 International Journal for Innovative Research in Science & Technology

Project Management & Industrial Development

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International Journal for Innovative Research in Science & Technology
Volume 6 Issue - 1
Year of Publication : 2019
Authors : V. Rama Rao ; V. Raghava Suseela; V. S. P. Vamsi; V. Venkata Srikanth; V. Durga Naga Sravanthi


     title={Project Management & Industrial Development},
     author={V. Rama Rao, V. Raghava Suseela, V. S. P. Vamsi, V. Venkata Srikanth and V. Durga Naga Sravanthi},
     journal={International Journal for Innovative Research in Science & Technology},
     publisher={IJIRST (International Journal for Innovative Research in Science & Technology)},


A project is an undertaking with specific start and end parameters designed to produce a defined outcome, such as implementing a new computer system. A project is a temporary endeavor, and as such is different from ongoing processes, such as a governance program or an asset management program, Project management is the discipline of using established principles, procedures and policies to successfully guide a project from conception through completion. Often abbreviated as PM, project management requires the application of those principles and procedures as well as tools and technologies to ensure that a project can be completed in a way that meets all articulated outcomes, from spending limits to end-goal objectives. The project management plan is expected to effectively and efficiently guide all aspects of a project from start to finish, with the ideal goal of delivering the outcome on time and on budget. A project plan often begins with a project charter, and it is expected to identify potential challenges in advance. Risk management is needed to anticipate and handle any roadblocks or surprises that arise so that the project keeps on schedule. Project management commonly involves overseeing teams from multiple functional areas within an organization as well as overseeing teams and workers from multiple organizations who are expected to work together for part or all of the projects duration to reach the common goal. Project managers, thus, need to be able to communicate effectively across many disciplines and inspire unity of action among many workers in order to deliver a successful project. People have been managing projects throughout history, although it was not until the mid-20thcentury that the art and science of shepherding a project from beginning to end became a formal management discipline. Industrial development is a very important aspect of any economy. It creates employment, promotes research and development, leads to modernization and ultimately makes the economy self-sufficient. In fact, industrial development even boosts other sectors of the economy like the agricultural sector (new farming technology) and the service sector. It is also closely related to the development of trade.


Project Management, Industrial Development

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