Benefits of Project Management
Project management is the application of knowledge, skills, tools and techniques to a broad range of activities in order to meet the requirements of the particular project. A project is a temporary endeavor undertaken to achieve a particular aim. In order to apply project management principles it takes time and effort, disciplines and techniques. The results are there for the taking if you are prepared to make the effort.
Applying a project management approach is not easy. At the start of a project the project management approach may not necessarily show immediate results. But the investment always pays off in the long run.
Project management adds value in quite a number of ways, some of which are detailed below:
- maximises the benefits of the project by focusing the efforts, of everyone involved, on the business need while working to improve the value of the result.
- advances the benefits by minimising the time taken for the project and wherever possible, achieving a phased delivery of business results.
- optimises resources by ensuring that everyone knows what they have to do.
- minimises costs by ensuring that only essential work is completed, and that work does not have to be redone.
- avoids wasted time simply by communicating extensively, and running effective meetings which result in agreed actions, which are completed.
By using project management principles and practices millions of dollars can be saved on projects. It can dramatically accelerate the introduction of beneficial change, and greatly increase the satisfaction of everyone involved, alleviating enormous frustration usually involved in projects.
When applied with sensitivity and adjustment the benefits of project management far outweigh the time and energy invested.
