SIGNIFICANCE OF PROJECT MANAGEMENT IN MODERN DAY ORGANIZATIONS

April 16, 2018 | Author: | Posted in Computer Certification

Project management is a growing field used increasingly by businesses of all sizes. As entrepreneurs and company executives deal with the daily responsibilities of managing an organization, it is important to use dedicated project managers to oversee projects from conception to completion. Understanding effective project management techniques helps organizations carry out large-scale projects on time, on budget and with minimal disruption to the rest of the business.

Defines a plan and organises chaos

projects are naturally chaotic. The primary business function of project management is organizing and planning projects to tame this chaos. A clear path mapped out from start to finish ensures the outcome meets the goals of your project.

TEMPORARY AND UNIQUE VENTURE

While a business is a continuous and ongoing operation, a project is a temporary venture aimed at producing a unique product, service or process. In many cases, this uniqueness means there aren’t any blueprints or steps in place to develop the end product. Project managers have expertise and experience in creating plans to deliver these items. In addition, they seamlessly integrate resources across a company’s departments and utilize communication, planning and budgeting skills to bring projects to completion.

TIMELINE

Creating a project timeline requires coordinating project activities in conjunction with the ongoing business activities. A project manager will identify and detail activities required in each phase of a project and lead teams with members of your staff to carry out each phase. Working within the parameters of a project management plan, a schedule sets out target dates for completion of tasks within each phase. The time line is directly correlated to the scope of a project.

Manages Integration

Projects don’t happen in a vacuum. They need to be integrated with business processes, systems and organizations.
You can’t build a sales system that doesn’t integrate with your sales process and sales organization. It wouldn’t add much value. Integration is often key to project value. Project management identifies and manages integration.

 

BUDGET

Project management helps keep projects on budget. A good project management plan identifies anticipated costs early on to develop a realistic budget. Using resource conflict solutions, project managers can minimize the effect of funding a new project on operating capital by optimizing the allocation of workers. Coordinating tasks and clearly identifying goals or deliverables within phases reduces inefficiencies in time management that can result in being over-budget.

MANAGES CHANGE & QUALITY

projects always happen in an environment in which nothing is constant except change. Managing change is a complex and daunting task. It is not optional. Project management manages change. Quality is the value of what you produce. Project management identifies, manages and controls quality. This results in a high quality product or service and a happy client.

SCOPE

Project management is imperative for organizations implementing wide-ranging or comprehensive projects. Scope refers to the breadth of a project, or how much of the business will be affected, and the bigger the project, the more details and planning are required to successfully bring it to fruition. Carrying out a wide-scale business endeavor requires careful coordination to ensure minimal impact on ongoing sales and production.

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