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Introduction to Project Management Basics

The document outlines the importance of management in achieving organizational goals, optimizing resource use, and ensuring stability and growth. It details the objectives of management, which include organizational, social, and personal goals, and describes the key functions of management: planning, organizing, staffing, directing, and controlling. Additionally, it presents Henri Fayol’s 14 principles of management that guide effective management practices.

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4 views4 pages

Introduction to Project Management Basics

The document outlines the importance of management in achieving organizational goals, optimizing resource use, and ensuring stability and growth. It details the objectives of management, which include organizational, social, and personal goals, and describes the key functions of management: planning, organizing, staffing, directing, and controlling. Additionally, it presents Henri Fayol’s 14 principles of management that guide effective management practices.

Uploaded by

harshitkhajuriea15
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd

UNIT-I

INTRODUCTION TO PROJECT MANAGEMENT


IMPORTANCE OF MANAGEMENT

Management is essential for the success and survival of any organization.


Importance of Management:
A] Achievement of Goals – Management helps in achieving organizational objectives
efficiently.
B] Optimal Use of Resources – Ensures effective use of men, money, materials, and machines.
C] Improves Efficiency – Reduces wastage and increases productivity.
D] Stability and Growth – Ensures continuity, growth, and long-term survival of the
organization.

OBJECTIVES OF MANAGEMENT

1. Organizational Objectives
 Survival
 Growth
 Profitability
2. Social Objectives
 Producing quality goods and services
 Fair prices to customers
 Environmental protection
3. Personal Objectives
 Employee satisfaction
 Career growth
 Fair remuneration

FUNCTIONS OF MANAGEMENT

Functions of management are the basic activities performed by managers to achieve goals.
1. Planning
 Deciding objectives and future course of action.
 Involves forecasting, budgeting, and scheduling.
2. Organizing
 Grouping activities and assigning duties.
 Establishes authority and responsibility relationships.
3. Staffing
 Recruitment, selection, training, and development of employees.
4. Directing
 Guiding and supervising employees.
 Includes leadership, motivation, and communication.
5. Controlling
 Measuring performance and correcting deviations.
 Ensures activities are as per plans.

PRINCIPLES OF MANAGEMENT

Henri Fayol’s Principles of Management (14 Principles):

1. Division of Work – Specialization improves efficiency.


2. Authority and Responsibility – Authority must match responsibility.
3. Discipline – Employees must obey rules and regulations.
4. Unity of Command – One employee should receive orders from one superior.
5. Unity of Direction – One plan and one head for similar activities.
6. Subordination of Individual Interest – Organizational interest comes first.
7. Remuneration – Fair compensation for employees.
8. Centralization and Decentralization – Balanced distribution of authority.
9. Scalar Chain – Clear line of authority from top to bottom.
10. Order – Right person in the right place.
11. Equity – Fairness and kindness to employees.
12. Stability of Tenure – Job security improves efficiency.
13. Initiative – Encouraging employees to take initiative.
14. Esprit de Corps – Team spirit promotes harmony.

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