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Project Management Components

oboloo Glossary

Project Management Components

Project Management Components are the processes, procedures, and tools used to manage projects. These components are essential to the successful completion of a project, ensuring that all elements are properly planned, monitored, and controlled. The components are usually broken down into five main categories: initiating, planning, executing, controlling, and closing. Initiating involves defining the project’s objectives, scope, and selecting the project team. Planning involves setting the project’s goals, resources, timeline, and budget. Executing involves carrying out the project tasks according to the plan. Controlling involves monitoring and reviewing the progress of the project and making adjustments as necessary. Closing involves completing the project and preparing the final report. All of these components are important to ensure that a project is successful and is completed on time and within budget. Project Management Components provide a structured approach to project planning and execution, and are essential

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