What is project management? Discuss the components of project feasibility analysis with suitable examples.

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Project management is the practice of planning, organizing, and coordinating the resources and activities required to achieve specific goals and objectives within a defined timeframe. It involves the application of knowledge, skills, tools, and techniques to manage the different phases of a project, from initiation to closure.

The main objective of project management is to deliver a successful project outcome, which means meeting the project's goals and objectives within the constraints of time, budget, scope, and quality. Project managers play a critical role in ensuring that projects are completed on time, within budget, and to the satisfaction of stakeholders.

To achieve successful project outcomes, project managers need to perform several tasks, such as defining project requirements, creating project plans, identifying and managing project risks, developing project schedules, and monitoring project progress. They also need to manage project budgets, allocate resources effectively, and communicate with stakeholders regularly to ensure that they understand the project's status.

There are various project management methodologies and frameworks, such as Agile, Waterfall, Scrum, and PRINCE2. Each methodology has its strengths and weaknesses, and project managers need to select the most appropriate methodology for their project based on its complexity, size, and requirements.

Project management is essential for organizations that want to achieve their strategic goals and objectives. Effective project management can help organizations increase productivity, reduce costs, improve customer satisfaction, and achieve competitive advantage. Project managers need to have strong leadership and communication skills, be able to manage change effectively, and have a deep ___________ ______ _____________ __ ___________ _____________ ____________ ______ __________ ____ _________ __ _____________.
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Degree : MASTER DEGREE PROGRAMMES
Course Name : Master in Business Administration
Course Code : MBA
Subject Name : Project Management
Subject Code : MS 52
Year : 2023