Benefits of project Management

‘Why is project management important?’ is an interesting question that clients sometimes pose.  They’ll ask: “Can’t we

 

projectmanagement

Managing a project more often than not requires a team of people with skills and abilities that complement each other and help to work towards reaching the goal of the project. The team, along with its project manager are responsible for planning, organising and monitoring project progress. Any project management professional will tell you that every project follows a project life cycle and certain project management steps that bring it from start to finish. Projects are a lot more than simply preparing resources and materials and require a deeper element of management

Project management can be a hard skill to acquire, but most definitely comes with its benefits and it is well worth investing your time into learning the skill. Project management is important for the following reasons:

  • Clearly defines the plan of the project before it begins: The importance of planning in project management cannot be ignored. The more complex project, the more scope there is for chaos. One of project management’s primary functions is to tame the chaos by mapping out a clear plan of the project from beginning to end.
  • Establishes an agreed schedule and plan: Schedules help to eliminate delays or overruns and provide a plan to be followed for all those involved with the project.
  • Creates a base for teamwork: People are required to work in a team on a project. This is due to team synergy benefits through the sharing and support of knowledge and skills. Bringing people together in this way inspires team members to collaborate on a successful project.
  • Resources are maximised: Both human and financial resources tend to be expensive. Project tracking and project risk management ensure that all resources are used efficiently and are accounted for economically.
  • Helps to manage integration: Projects that are completed within an organisation are generally integrated with wider business processes and systems. Integration forms the value aspect of projects and their management.
  • Helps to keep control of costs: Depending on the scope of the project, some projects can incur organisations significant costs. It is important therefore to keep on budget and to control spending. Project management greatly reduces the risk of budget overruns.
  • Helps to manage change: Today, more than ever, change is something which all organisations face. Projects, during their running, also face changes and must be prepared to face such deviations from the original plan. Project management allows for effective change management and makes it less of a complex task.