Update Project Management.md

Project Management.md

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 # Project Management
 
-## Learning Goals:
-- Learn the stages in Project Management
-- APply it to a real project
+**Learning Goals:** <br/>
+$`*`$ Learn the stages in Project Management <br/>
+$`*`$ Apply it to a real project
+
+**What is a Project:** <br/>
+- According to the Project Management Body of Knowledge (PMBOK), a project is a temporary endeavour undertaken to create a unique product, service or result.
+- Temporary means that every project has a definite beginning and end
+
+### What is Project Management? <br/>
+$`*`$ According to PMBOK, project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements <br/>
+$`*`$ Project management is accomplished through the application of several project management processes <br/>
+$`---->`$ Initiating <br/>
+    $`*`$ Planning <br/>
+    $`*`$ Executing <br/>
+    $`*`$ Monitoring <br/>
+    $`*`$ Controlling <br/>
+    $`*`$ Closing <br/>
+$`*`$  Traditionally, project management includes a number of elements: four to five proces groups, and a control system.
+
+**Process Groups:** <br/>
+$`1.`$ Initiation <br/>
+$`2.`$ Planning or development <br/>
+$`3.`$ Product or execution <br/>
+$`4.`$ Monitoring and controlling <br/>
+$`5.`$ Closing <br/>
+
+**Initiation:** <br/>
+The initiation process determine that nature and scope of the project. This stage shouldinclude a plan that encompasses the following areas: <br/>
+$`*`$ `Analyze the needs of the buisness` in measurable goals <br/>
+$`*`$ `Financial analysis` of the costs and benefits include a budget <br/>
+$`*`$ Project charter including `costs, tasks, deliverables and schedule` <br/>
+
+*Scope:* The `products, services and results to be provided as a project`
+
+*Requirement:* A `condition or capability that must be met` or processed by a system, product, service, result or component to satisfy a contract or specification
+
+*Budget:* The `approved estimate for the project` or any work or any scheduled activity
+
+*Project Charter:* A `document that formally authorizes the project`, the initial scope and the resources that the organization is willing to invest in.
+
+*Resource:* `Material that is used inorder to complete the project`. Eg, skilled human resource, equipment, services, supplies, materials, etc.
+
+**Planning and Design:** <br/>
+Plan the time, cost and resources adequately to estimat teh work needd. Effectively manage risk during project execution. Failure to adequately plan greatly reduces the project's chance of successfully accomplishing its goals. This section also consists of: <br/>
+$`*`$ `Determining how to plan`
+$`*`$ Developing `scope statement`
+$`*`$ Selecting `planning team`