Project Management is the ability of a leader that determines whether a plan will acomplish or fail. Stats show that roughly 10% of the total startups actually flourish while most of them do not survive for more than two years. Research shows that one of the most common boner in the failed startups is poor project management. Most of the people take it as a piece of cake though it is not that easy job!

Project Management is an expertise of skillsets in a hand along with experience on the other. It is a tough job but can be mastered if handeled with the right approach and patience.

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Concept behind project management is simple - "To finish a given task successfully within given constraints."

Let us concider an example. Any customer approaches a team and requests a certain project. The project manager (who is generally the head of the team) examines the project. His primary role is to organise the team according to the work. He explains the project to the team members and assigns the right work-type to the right person.

Next function of a project manager is to monitor the progress of the project and to check if it is propagating in the correct direction or not. 

Then comes the Problem Execution. Every new project differs from the previous one and due to the same reason we cannot predict what problems we may face in future. We may predict some but still there is a huge possibility that we will encounter new challenges in every new project. Therefore, a problem solving mindset is required to tackle such challenges. Some of the top tier buisness projects are constantly subjected to market risks. As an example- a project may shut even before completion if the running cost of ongoing project exceeds the outcomes or earnings of the project! So, project managers are needed to be equipped with risk management plans along with the problem executing mindset.

Final function of the project manager is to finalise the project after the team reports it to be finished.

There can be many limitations to which a project may be confined to. Most commonly observed constraints are-

(i) Constraint of the Time:The project must be finished within the time limit. Completing the project on time and within the given budget is not that easy. The team is organised according to the need of time, as an example, a short project does not require a huge army; it can be done by a small team. Thanks to the advancements in Technology. As of now, even small team is capable of handling giant projects with the use of proper gadgets and technology. 

 (ii) Constraint of the Running cost : Not every project gets 'loads of money' and thus team has to work accordingly. Here, the role of project manager is to bring out the best out of what is possible within limits.

The time-taking goals turn out to be difficult and boring. Further, it decreases the efficiency of the team. It is better to break goals into smaller ones that are easy to accomplish. It also creates a sense of motivation among employees.

Organising regular meetings help to develop project based methodology. Real meetings are effective while the virtual meetings are time saving.Regular meetings help in coordinating the team easily. Scheduled meets establish great communication and also helps in tracking the progress of the project.

Tracking the performance of the team is an important aspect when figuring out the efficiency. It can be done either manually or by using technical tools. Here, feedbacks by the users play a vital role in tracking the performance.

(iv) Prioritisation: Prioritisation is the ability to diffrenciate between 'what is important' v/s 'what is urgent'. As many a times what is urgent may not be important while what is important may not be urgent. In the same sense, tasks are enlisted according to priority and executed.

Accuracy of the work in hand and its time-to-time analysis helps to improve the quality of the project. Analysis is of great significance as we have to deliver the best of what is possible.

(vi) Adjusting The Objectives: Goals of the ongoing project often tend to change over time according to the need of the hour. Project Managers must be able to define situations and approach to conclusions. Improvised objectives often refine the project and propose better outcomes.

(vii) The Reciprocating Approach: It is a dynamic method for projects that require high degree of  refinements and are exposed to recurring advancements.

Plan-execution with simultaneous error-checking is the best way to figure out every single mistake of the project. But the demerits of this approach is it is far more time consuming. It is usually useful for large teams.

(viii) Dealing with project failures : Many times, even after  planning and execution, projects fail due to a number of reasons. So it is also necessary to keep the team motivated. Organising regular Breaks and Bonuses bloom positivity among the team. 

(ix) Evaluation: It is the systematic description of the completed project . This is done by critically examining the project on various grounds. I personally concider it as the most important and necessary parameter that should be examined by a project manager after completion of the project. Evaluation not only helps in figuring out errors that are generally encountered but also prepares for furture projects by terminating unusual risks of failure.

Project management is a technique to scale the project from beginning to end. It is an ordered approach to accomplish the objectives within time limit. Distribution of work load, monitoring of project progress, and integration of finalized work can be termed as effective project management.