1. Project Management :
Project management, as name suggest, is simply management that focuses on planning and organizing resources within organization to move particular task, event towards completion of project.
2. Material Management :
Material management, as name suggests, is simply management that focuses on flow of goods and products into an organization from one point to other point where these goods are required or converted into end product.
Difference between Project Management and Material Management :
|Project Management||Material Management|
|It mainly focuses on management and completion of individual project.||It mainly focuses on procure i.e. obtain right material, in right quantity at right time at right price.|
|It is a temporary management process i.e. one time activity.||It is a permanent management process i.e. an ongoing process.|
|Project manager have more responsibilities than material manager.||Material manager have less responsibilities than project manager.|
|Factors affecting project management project culture, project manager, time complexity, improper risk management, improper communication among team members, etc.||Factors affecting material management includes material shortage, price fluctuations, damage and wastage, delays in supply, etc.|
|Process of this management includes initiation, execution, monitoring, controlling, and termination of project.||Process of this management includes planning, organizing, and control of flow of goods and services starting from initial point to its destination.|
|Its benefits include engage users and stakeholders, define clear roles and responsibilities, track progress, inspect deliverables, manage risks, etc.||Its benefits include shorten delivery times, improve customer service, reduce inventory excesses, enhance handling through streamlining, helps in implementing quality tools, etc.|
|Its main objective is to define business objective of project and achieve it as soon as possible.||Its main objectives to increase customer service by simply delivering or supplying standard goods with high quality.|
|Type of project management includes waterfall project management, agile project management, six sigma project management, etc.||Types of Material management includes inventory planning and control, quality control of materials, purchasing, material requirements planning, flow and supply of material, etc.|
|Project management is more difficult than material management.||Material management is less difficult than project management.|