Measuring The Importance of Project Management

Project Management

If you have never really worked on a project before, then you may be tempted to think that the expense of a project manager is an unnecessary one. This can be a costly investment, and many people believe that it is something that they feel they could do themselves. However, this really is, more often than not, a false economy. 

A good project manager who has all the project management skills to help you pull your project together on time and on budget whilst sorting out any issues along the way really is worth their weight in gold. More and more companies are coming to this realisation, and there has never been a greater demand for those who have the relevant project management accreditation

What Is Project Management?

The Project Management Institute (PMI) gives the following definition: “the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.” And there are four basic stages to the project lifecycle:

  • Initiation
  • Planning
  • Execution
  • Closure

Why Is Project Management So Important?

There are relatively few projects that could really be considered to be simple. The majority, in fact, are incredibly complex, have many stakeholders, and a project manager is a vital cog. They can not only lead the initiatives involved with the project but also ensure that everyone is on plan and the project is on target for a successful conclusion. 

When a project management methodology is put in place, then a company is more likely to meet any budgets that they might have set, stick to their planned timescales and also meet the scope and quality standards that they have set themselves. 

Reasons You Should Use Project Management

Realistic Project Planning

You should never underestimate the power of project planning. If you don’t take the time to sit down and really think out all the stages that your project might take, together with any costs and problems that you might encounter along the way, then it is really easy for your project to go off track before it has even started.

Clear Objectives and Focus

Not having clear goals for your project can be one of the biggest reasons for project failure. It is essential to consider your priorities and define objectives for a project. 

Strategic Alignment

It is really important to align your projects with your business strategy, if you are not doing this, then you could be creating too much risk within your business. 

Managed Process

Project management looks to ensure that each task is being done by the person with the skills most suited to it. It also looks to break down the different tasks of a project and make them smaller, more manageable tasks. There is some great project management software that can help with this, and it is well worth finding a program to use. 

Quality Control 

An essential component of project management, quality control is important if you want to ensure that every element of the project is a success. When a team is pushing to complete a project to a timescale, particularly a tight one, then some of the quality standards can be rushed, resulting in a shoddy end product.

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