What is difference between project management and project administration?
Project management is a fairly well understood term, and is concerned with the management of projects. "Project management is the application of skills, knowledge, and tools to achieve the predetermined project objectives." How this is implemented in different organizations, is of course, widely different. Project administration is not such a well defined term, and could mean different things in different organizations. Among other things it could mean : 1. Supporting the project manager with the more administrative parts of the project. Sometimes this might be call project controls. 2. A much higher level activity, sometimes called program or portfolio management. Making sure the organization is working on the right projects at the right time with the right resources etc. 3. The same things as project management. 4. The project management office. That group within the organization that may perform activity 2 above, but also focused on project management software support and project management methodology. 5. Project management methodology.
What is the difference between Project Management and Human Resource Management? Which major is more rewarding
They are pretty similar in terms of being rewarding, but for different reasons. Project Management will net you the best salary, and there's a world of industries you can work for. Almost any manufacturing sector industry uses one form of PM or another, as well as any company that develops in-house Information Systems solutions. IT Project Management, or any technical sector (military systems, aircraft, space) can open doors to much bigger things, such as being the Director of NASA. That's not to say that HR can't make you money, but a supervisory, management, or some specialist position would be required. There are plenty of general office admin-type jobs in HR that don't pay too well. Of course, a lot of reward can come from being directly influential in the lives of people, and some say there is no greater reward.
What is the difference between Project Management and Program Management?
Think in a hen and then in a hencoop. Or better, in a color and then in a color printer.Both sides share part of the name, have to do with similar concepts, but are very different things.The same for Project and Program management. They sound alike, they share terms, and they can be managed with similar tools.When you manage a Project, it means that there was a problem-solving process that determined that the problem at stake should be solved by managing it in the context of a project, by a project team. Its purpose is to bring about with a result, a product.Projects deliver THINGS. In the examples, a hen or an egg or a can of ink, or an App.Sometimes you need to do something with those things. For instance you need to film "Chicken Run" or to print a Mona Lisa or your PhD thesis, or obtain huge profits by giving people the opportunity to buy and sell goods with their mobile phones. You then train the chickens and make then act and talk (not my business!). You already hired the film director, the supporet staff, the illumination, catering, the marketing campaign and negotiated the distribution of the film. After people is watching the movie, your chicken run movie is said to have been successful. You fill ink cartridges with the ink colors, grab a Mona Lisa version from Google Images, along with a good color printer, quality paper and a power plug, and then with the help of a PC you print the Mona Lisa. You succeeded. You deal with the business people at your company and come with an idea on what a buying/sales mobile system should have. You try the concept, hire programmers and Project managers that will build the required apps plus the back-office servers. You also contract the PMs that will lead the marketing campaigns and the support staff for sustaining the operations, and you train the related people in sales, admin, customer support, etc. Then you have the buying/selling system ready and IF everything works ok and customers begin to use the system, you succeeded with your program. That's it. Similar names, related entities, but very different things. Have luck!
What's the difference between Project Management & Program Management?
HI there, Here's the lowdown. A project is defines by PMI.org as a temporary undertaking with defined goals and a specific start and end time.A project can stand alone - it does not have to be part of a program A program is the the delivery of a number of related projects with common goals. So a program consists of projects. Here's an example. A program may be to create a new product line for a company to improve brand image. The projects may be the individual products created within that line to meet the goal of improving the brand. Hope that helps!
What are the major differences between financial managers and project managers?
Financial manager is supposed to work on Financial operations of organization.Project manager is much wider term. Project manager can work on different projects which can include something in financial organization but project manager will never be working on financials of that org. but he will be making plans for whatever project has been given to him/her.Project manager can be working on anything from space shuttle launch to building up house or getting a program ready for computer.hope this answers :-)
What is the difference between a Project Manager and a Functional Manager?
There are several differences:Functional managers manage people while project managers manage processes without having any formal authority over peopleFunctional managers usually manage budgets and resources while project managers don’t manage their own resources but instead they work with the resources managed by the functional managersFunctional managers are part of the management team of the organization while most project managers despite their job title are ordinary employees and not real managers.Functional managers have direct reports, project managers usually don’t. As such FMs can hire and fire employees, do performance reviews, raise salaries, award bonuses, promote or demote people. PMs don’t have the power to do these things.FMs are responsible for the work of their direct reports in all circumstances even when the employees are working on projects, PMs on the other hand are responsible for the so called operational aspects of a project which usually don’t involve the actual work performedFMs usually come from the same line of work as their direct reports while PMs don’t necessarily have the same technical background as their project team members. Since many project teams are cross functional it would be simply impossible for the PM be an expert in all the fields relevant to the projectIn some industries such as IT is is possible to start you career as an entry level PM , while FMs are always senior positions that require some work experience before acceding to such a roleProject management is starting to be seen as same sort of profession in its own right meaning that a PM is a professional in the field of project management. Functional management on the other hand is not a profession as the FM remains a professional in his own line of work but once appointed as a functional manager he works less as an individual contributor and focuses more on coordination and leadership
What is project management?
Project management is a set of principles, practices, knowledge and techniques applied effectively and efficiently to lead project teams and control project schedule, cost, and performance risks to achieve business goals and result in customers' satisfaction. Project management has 5 main processes - Definition (initiation), planning, executing, monitoring and controlling and closing. A Guide to the Project Management Body of Knowledge" (PMBOK) areas of project management are: integration, scope, time, cost (budget), quality, procurement, human resources, communications, risk management. Project management is all about comprehensive project planning, defining project objectives, identifying tasks, determining budgets, time-lines for project completion, deliverable, resources, implementation, operation controls is necessary for optimal performance, evaluation, support and maintenance. Recommended readings: http://www.hyperthot.com/pm_intro.htm (easy to understand) http://www.pmi.org/About-Us/About-Us-Wha... and above all wikipedia remains the main source of information.
What is the difference between a project loan and a mortgage loan?
Mortgage Loan: A mortgage loan, also known as a Loan Against Property, is a secured type of loan. This loan is given by almost all banks and NBFCs across India. In this loan a borrower is supposed to keep his or her property as mortgage to the lender in order to get funds. The property is kept as mortgage to the lender until the loan is paid in full, with interest rate in the given tenure. If the borrower fails to pay off the loan, the lender sells the property to recover the loan money. Banks and NBFCs give mortgage loan for residential as well as commercial properties.Project Loan: Project loan or Project Finance is nothing but sourcing funds to a long term infrastructure project, or any other project, and using the cash flow generated from the project to payback the financing procured.
What is the difference between a project plan and a business plan?
A business plan outline how a business is organized, sales and marketing strategies, business goals and a host of other details about a BUSINESS. A project plan is a document that outlines a specific project, what must be accomplished in the project, resources needed, dates and timelines and goals, etc. A business can have a project plan which could be a project that a business wants to accomplish - say a project to develop a new product line. You could have a project to develop a business, and a developing a business plan could be one of the steps in the project plan.