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Project management as we comprehend it nowadays began getting condition approximately during the 1950s when foundational equipment and strategies of project administration including the critical route strategy (CPM), work breakdown framework (WBS) and the program evaluation and evaluation technique (PERT) ended up designed.
The origins of project administration are carefully associated with building, engineering, scientific management and in many cases navy exploration.
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Expense administration: Estimating project costs to produce a spending plan and that is then tracked throughout the project.
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