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Difference Between Business Management and Project Management

As a person who is mainly involved in the field of business and entrepreneurship, you have certainly heard about business management and project management, but did you ever ask yourself the difference between running a business and a project? Yes, there are differences between the two terms so let us explain these differences.

Difference Between Business Management and Project Management

Business Management

It is the process responsible for the organization of business in order to achieve the objectives set for work as the management consists of many of the functions and overlapping processes that are used in the implementation of the policy set for the company as well as the direction and control of the company’s resources.

You would use it competencies to determine which projects to launch when to launch them and to mix them in the overall success strategy of the business.

It deals with the entire business and deals with operating a company according to the guidelines set by its board. You need proficiency in areas such as markets, customers, finance, operations, communication, information technology and business policy and strategy. Your business focus is delivering success to the business organization. 

Project Management

It is responsible for organizing ideas and creating a plan to accomplish the goal, design and manage the project budget, gather a project team, and determine what tasks are needed to move from start to finish. it consists of 5 stages we will discuss as follow:

  • initiation.
  • planning.
  • execution.
  • performance/monitoring.
  • project close.

It deals with a specific project, There can be several Project in a business. project focus is on delivering a specific product, service, or result. It is probably one of many projects contributing to the business’ success.

It has life time of a Project, it is Influential position without authority or direct reporting team. it requires out-of-the-box thinking. Project management, the key to taking your business to the next level, is only successful when your current processes are properly managed. Fortunately, advanced technology makes managing processes easier than ever.

The following steps could give you breif difference between both of them:

Business Management:

  • Continous process.
  • Single state.
  • No clear objective.
  • No real start and end.
  • Not much of empasis on planning.
  • Resoure and machine related.
  • Product and process related.
  • Repatitive and non-unique.
  • Simple team building.
  • Role of manager and team membership is permenent.

Project Management:

  • Only during the project.
  • Moves from one state to another.
  • Single clear objective.
  • Definable start and end.
  • Greater emphasis on planning.
  • More human resource related.
  • Project oriented.
  • Non-repetative and unique.
  • Complex team building.
  • Role of manager and team membership is temporary.
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