Project management – a modern management practice in it industry

Abstract

Information Technology (IT) plays an imperative role in almost every aspect of our lives. The world today has become one global village due to the widespread use of Information Technology. The government and business have become so reliant on IT that it is hard to imagine how they would function without it. It has become an ever-increasing resource with which organizations have created and sustained their competitive advantages. The IT sector basically consists of software and services, Information Technology Enabled Services (ITES) and the hardware segments which is called as projects. All these three have jointly contributed expansively towards the development and growth of all the countries in the world. Out of these, the software projects and services industry itself is a trillion dollar industry contributing tremendously towards the growth of the world economy. It has not only helped in generating large scale employment in number of countries but has also helped a number of developing nations to take a step forward towards developed nations.