Yuriy GrinchukYour project has been chosen and you have been selected as the project manager. Your task now is to complete the project. For your project to be effective, you must understand what exactly constitutes a project and what criteria are used to determine whether a project is successful or not. I will tell you why should you use project management. Today's highly focused business environment forces companies to produce superb products at lower costs and in shorter time frames. Companies of this type are progressively using project management because it allows you to organize and compose assets to achieve a predefined result inside. of a given period of time. Project administration methods also help you manage and consider risks in an organized manner. Studies of companies using project administration have demonstrated that project administration takes into account better asset utilization, faster progress times, reduced expenses, interdepartmental participation that brings together collaborations within of the association and greater attention to results and quality. To begin with, project management processes are initiation, planning, execution, monitoring and controlling, and closing. Now you need to use the project charter or business contract to get the wheels turning. Your project charter should assign you as the project manager the authority to use the assets to bring the project to completion, provide a brief overview of the outcome or directions to be created by the project, and allude to the business contract as a premise of startup. the project. A project must have a start and end date, assets and an outcome. This is necessary for successful drafting and approval of project deliverables. During the closeout process, you formally acknowledge the deliverables and close the project or its stages. You will also audit the project and its results with your group and the various project partners. Towards the end of the project, you will create a formal project conclusion report and a project evaluation report. When the project is finished, celebrate a little. You recently took on a huge project in the world of project management and came out on top. Thank all participants for their work and, if necessary, convey appreciation of their work. Evaluate the company, write a report, and be sure to include a lessons learned section to help you with future projects. Congratulations!Works CitedKloppenborg, Timothy J. Contemporary Project Management. 3rd ed. Print.