Project management is a method of planning, arranging, and sustaining resources to ensure the accomplishment of a particular project goals and objectives. Project management is an extensive process that requires the participation of many people and that a well-organized plan is followed.
In accordance to a recent managerial project study held in the UK, only 29% of all IT projects were totally successful, about 23 % were a failure, just over 45% were over budget, and an outstanding 65% were not even completed on time. The figures may surprise you, so now ask yourself was this a result of poor management of projects, poor managerial skills in general. In simple terms if a person were to have excellent project management skills, a project should be on time and be successful. On the other hand if a person has poor project management skills, money, time, staffing errors, process errors, planning errors or communication errors will create huge confusions and delays for a project.
Now what makes a project successful and a project unsuccessful, it simple, you have the have the right resource, the right skills and good leadership direction? Resources and skills can become a core reason for a project failure. Inappropriate allocation of resources can also result to a mistaken utilization of skills.