Below are my personal lecture notes from a Microsoft Project Level 1 class. You can download the accompanying PowerPoint presentation in Bright Hub's Project Management Media Gallery by clicking here.
The first thing to have is a good set of requirements and specifications. Without these, any project is doomed to overrun in terms of both cost and time. Further, it may not achieve the desired benefits.
Next, a Project Manager must be assigned. A Project Manager is responsible for ensuring that a project is completed on time, within budget and at an agreed upon level of quality.
Once a Project Manager has been assigned, you can then begin to assemble your project team, or “Resources.” These are the people and equipment that will be needed to complete the project deliverables. An essential part of a project is planning. Within a project plan, milestones or “markers”, should be established to help keep the project on track. Milestones are dates throughout the project that need to be met in order for the project to complete within the required time frame and budget.
Just because the project has started doesn’t mean the role of the Project Manager is complete. While it’s true you have other personnel and equipment completing required tasks, it’s still the Project Manager’s job to track the project through to it’s completion and beyond by making sure deadlines are met. The project plan you create for each project also serves a reference for future project and can give you an accurate snapshot of not only the time frame of a particular project but also the associated costs.