Encyclopaedia Of Economics, Commerce And Management-Project Management (Vol. 13)

The prime objective of project management is to produce the most effective plant technologically at the minimum price. From the beginning to the end of a project there are rules which must be faithfully observed to ensure effective project management. The usual stages in a given project scheme include pure research, applied research, plant engineering, procurement, design, construction, commissioning and maintenance. Many intermediate stages are involved. At one time it was customary for each stage to be a watertight compartment, but modern project management envisages metriculous planning, from the appointment of a senior project team comprising people from a variety of disciplines. Thus, project management represents bringing into focus the abilities, skills and talents of a specially selected cross-section of managerial and technical know-how.