Project management is the modern approach to manage and control the development process of new product, initiatives, or organizational changes from starting point to finishing stage. Every project goes through five basic stages that includes initiation, planning, executing, controlling, and closing. Project management procedures can be applied to almost any project; however, the process is primarily applied in the building construction, new product, development of new software, introduction of new tool in the machinery, or in the projects related to designing or launch of advertising campaigns.
Projects have a finite length and considered as temporary processes that are usually
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