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The concept of project management can be stated as one of the areas, which involves a crucial role in the management area of projects. In this concept, there are different engagement factors, which are linked to the sector for example constant of the scope of the project, schedule of the project and budget of the project. Each of the areas can lead a project to the factors of success and on the other hand, it can even lead to the factor of failure. In the project explanation, two types of projects are undertaken relating to the success factor and another being a failure area (Kerzner and Kerzner 2017). The project, which is undertaken in the success area, is the Flowserve Corporation and on the other hand, the failure project, which is undertaken, is the PCjr project of the IBM.
The report directly manages to give an overview of the different concept, which is linked to the factor of project management. It can be stated that there are various moveable parts, which are linked to the working organization and it can be stated that each of the parts plays an important role in the success factor of a project. The report gives a guideline, which is linked to the role of leadership and management and how they are crucial in the working of a different task. The constraint of time and budget are mainly included in the working of the schedule or the planning of the schedule.
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