The basic analytical principles of project management

Since the birth of modern project management in the mid-1950s, the process and the effort of realizing projects has transformed: Today, organizations and project managers must contend with changes in production methods, growth of markets, low margin of error, increased international competition, and high cost of money. This article examines the basics of practicing project management in relation to eleven analytical principles, basics such as objectives, work breakdown structure, activity lists, networks, scheduling, estimating, milestones, accountability, control, and earned value.