A project management company is a company that generally manages projects. Project management is the discipline of planning and organizing resource, people and time in order to complete a given project within the time provided for that project. A project is a specific venture with set goals and expected results to be achieved within a specified time period. A project is usually divided in phases that have a start and end time for completion of specific tasks.
A project management company is therefore a company that undertakes project management for its clients. The company ensures that the project is undertaken it the most viable way and is completed within the specified time period allocated and gives a post project report comparing the planned project against the implementation and results.
For the successful completion of a project, the project management company helps to undertake the various step of a project. These steps include:
Defining a project
The project has to be clearly defined in terms of the scope of work, the time the project should take and expected results once the project is completed.
It is important to carry out a thorough feasibility study to ensure that the project is viable and that all the necessary resources are available before the project begins.
All risks and weaknesses associated with the project should be indentified and appropriate measures taken to manage such risks. If risks are not manageable, then the project should either be reviewed or time taken to find a way to manage and eliminate the risks identified.
This is the process of dividing the project into phases and defining each phase in terms of deliverables, required resources and time to be taken for each deliverable.
The project is then implemented in the various phases.
This is a post project analysis where comparison in made between what was planned and what has been achieved. Any deviations in terms of time and resources used are noted and explained.
It is important to ensure that the project management company selected is the right one for you project. Is important to consider the following factors:
Years of experience the company has and whether such experience is relevant to your projects.
The key competency of the project management team. The project management team should be skilled and competent in all areas of project management. This includes administration skills, technical skills for the actual project, legal matters, report writing, finance and accounting and any other skill necessary for successful implementation of the project.
The qualification, experience and leadership of the project manager who is in charge of your project.
Past successes in dealing with other project and the satisfaction of other clients.
It is important to consider and take on the services of a good project management company. This will ensure the project is successful and undertaken in the most viable way.
If you have limited budget or manpower, a project management company could be just what you need. A project management company has rigorous structures to keep projects on track. To make your life far easier, see http://mptechconsulting.com.