ABSTRACT
Project management is the process of managing, allocating, and timing resources in order to achieve a given objective in an expedient manner. Project management covers the following basic functions: planning, organizing, scheduling and controlling. Project management takes a hierarchical view of a project environment, covering the top-down levels shown as follows: system level, program level, project level, task level and activity level. The vertical axis represents the value-added basis of the project under consideration, while the horizontal axis represents the level of complexity associated with the project. Associating a size measure to an industrial project provides a means of determining level of relevance and efforts required. Project planning provides the basis for the initiation, implementation, and termination of a project, setting guidelines for specific project objectives, project structure, tasks, milestones, personnel, cost, equipment, performance, and problem resolutions. The budgeting approach employed for a project can be used to express the overall organizational policy and commitment.
