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Outsourcing and globalization of manufacturing allows companies to reduce costs, benefits consumers with lower cost goods and services, causes economic expansion that reduces unemployment, and increases productivity and job creation.
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Project management is the planning, organizing and managing the effort to accomplish a successful project. A project is a one-time activity that produces a specific output and or outcome, for example, a building or a major new computer system.
The phase is essentially about laying out the project's mission. In sum, it is a formalization of the project's core idea. The planning phase delves into a little more detail. Managers will consider what specific steps and tasks needed for project delivery. Each step and task will have its own estimated costs and timeline. Although these estimations don't need to be entirely accurate, it gives project managers a general idea about the project's feasibility and delivery time.
Project success criteria are the standards by which the project will be judged at the end to decide whether or not it has been successful in the eyes of the stakeholders.