Q Assignment on Project-Management- Initiation, planning, implementation&execution practiced towards development of P&S Home, - Project-Management Project-Management Define Project Management Initiation, planning, implementation and execution are practiced towards development of some products or services and the process of practicing all the aspects are known as project management. A business industry includes the requirement of developing products as well as services they provide as their business sales. Hence, the significance of project management occurs. The vital parameters of project management are, Initiation- This is the part, where the project is originated as in the need for the product or serviced development is generated by the organization (Kerzner & Kerzner, 2017). Planning- It is the process where the project requirements are enlisted and the project is planned according to the necessary steps. Implementation- This is the part, where the project is developed by implementing necessary resources Execution- In this part, the developed project is tested and the product is ready Explain project life cycles The project lifecycle can be defined as the cycle of phases or steps that a project must include while development part. The phase start with Starting the project, planning for the requirements, carrying out the researches, resources and findings for application, closing the project after completion and execution of the developed project (Harrison & Lock, 2017). The lifecycle includes the nature of following a sequential manner for the parameters. The lifecycle is initiated and completed according to the following order 1. Starting the project 2. Organizing and planning 3. Carry out of the work 4. Closing the project The sequential order is followed for a successful outcome from the developing project and also the order together is called the project lifecycle. Summarize project management methodologies As the project management covers a large area on various aspects, it is evident that project management methodologies include different perspectives for different projects. Such as, the requirement, resources, management practices and development techniques vary with variations of products or services (Svejvig & Andersen, 2015). The following list can be stated as the best possible methodologies for project management, Waterfall method- It defines the outcomes on how a project can be successful Agile method- Differential method for product and service development from scratch Kanban method- Technical process of development cycle Critical chain project management- Chain management and lifecycle determination Critical Path Method- using critical path measurements, the project is developed Various different development methodologies are discussed in the above section, which tends to inform the various practices that a project management might include. Summarize project management techniques While development of a project, the team firstly manages to acknowledge the outcomes of the project and accordingly the project is developed (Turner, 2016). As there are different tools and techniques for managing a successful business project, it is evident a very few number of the techniques are covered within the practices for project management. The techniques are, 1. SWOT analysis 2. Risk Mapping 3. Cause and Effect diagram 4. Fishbone diagram 5. Decision tree 6. Radar Chart 7. Stakeholder Matrix All the techniques stated in the above section are the best tools and techniques for project management techniques. Explain team dynamics Invisible forces that might act upon decision making and working together of people, is known as team dynamics. The term is initiated from the perspectives of teamwork. Team dynamics is the impact of behavioral aspects of group of workers upon their working cultures. The resultant outcome for team dynamics might be impactful with respect to positive and negative aspects (Yammarino et al., 2015). Sometimes, within the culture of teamwork, instead of team dynamics, failure experiences are gathered. Hence, the team dynamics can only be generated while the team is working effectively together. The stages of team dynamics include mainly five stages, which are, • Forming • Storming • Norming • Performing • Adjourning Although, team dynamics and group dynamics tends to represent a similar meaning, it is evident that the difference lies in the section of common targets. Being a teamwork, team dynamics represent a common goal for the team members but for group dynamics, the target is acquired based on a larger network.