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What is Project Management?

It is very frequent in the business world to encounter construction projects that have not been executed according to the owners expectations. Usually this happens because their is a divorce between the dominant logic of the business in question, and the development of physical structures.

Modern Business practices have been handing out the responsibility to professionals on this area, to assure the development of needed projects.

But it is not enough to delegate the responsibility upon the accountants, but also to be sure that they will be resolved under the expectations of time, cost, and quality of the owner.

Commonly, as the owner of a project, you'll find yourself facing with the following questions:

• Why was the project delayed, if I deposited all the responsibility in the hands of the Consulting Firm that I trust?
• Did I account for the delay in the project?  What are operative costs, compromises, image deterioration and lucrative ceasing income?
• Why did anybody not inform me on time, that the project was going to go through and why did I have x% increment in the final cost, and above the originally estimated amount?
• Was I permanently informed over the project status?
• Did the final product satisfy my expectations in terms of operative necessities, quality, type of materials and details?
• ¿Did I quantify and estimate the time dedicated by my staff to the project?
• Did my project count with all the warranties and protections this practice needs?
• Did my project have a sponsorship, leadership and clearly established objectives?

The you'll find the answers to these and other questions,  through the tool known as Project Management.

Project Management is the application of the knowledge, abilities, tools and techniques to accomplish or to exceed the project’s sponsor‘s necessities.

Accomplishing or exceeding these necessities means balancing the especific demands related with time, costs and quality.

To validate the previous comment, a relation of trust should be established with in an Estrategic Alliance between the specialists team that will be assigned to take the Project Management responsibility and the owner.

These group of profesionals, will have as a prime function, the coordination of a multi-disciplinary team, whose only objective is to execute the project satisfying the expectations of the sponsor.