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Project management is crucial to making sure all projects an organization undertakes are successful. As such, project management is important to all the organization’s stakeholders. This includes everyone from the investors, CEO and senior managers to the line managers, employees and contractors. Keep on reading as we discuss why project management is important to an organization.
What is project management?
Before we start talking about the benefits of project management, let us define what it is. Simply put, project management is the utilization of an organization’s resources in order to achieve the desired project-specific objectives. Project management is not a long-term endeavor, as every project has a specific time-frame in which all the objectives need to be achieved.
In project management, you have two critical roles:
- Project manager: The person in charge of making sure the project is delivered on time and on budget through planning, controlling, monitoring and executing all aspects of the project.
- Project team members: These are the individuals who are working with the project manager through each phase of the project.
4 reasons why project management is important
Now that we know what project management is, let us jump into the reasons why it is important. Here are four reasons why project management should be part of any organization’s project:
1. Helps increase efficiency
Project management has tools that can help increase the efficiency of team members. For example, a project management tool like Asana can be used to make a team more efficient through collaboration and giving them a central hub to access all the project’s information. With project management tools like these, the project manager and team members can stay on top of everything that has to do with the project and better plan and execute what needs to be done.
2. Improves customer satisfaction
With project management, an organization is in a better position to meet and even exceed customer expectations. When a project is delivered within the defined scope, customers are satisfied since they get the value they asked for when they needed it. And project management has the tools necessary to make this happen.
It is important for organizations to keep their customers satisfied. This is because satisfied customers are more likely to come back later and give them more business and even become their biggest advocates. This is one of the biggest reasons why project management cannot be ignored.
3. Helps team members stay focused on one goal
When the project’s objectives are defined and communicated to everyone, the whole team is able to work towards a common goal. When people are focused, they make sure that every activity they do contributes to the success of the project. They don’t just stay busy for the sake of staying busy but to make sure that what they are doing is making an impact.
4. Saves money and time
A project that is not managed can cost the organization valuable time and money. If the project is not planned from start to finish, a lot of things can happen that can cause delays and costs to rise. Critical tasks can be forgotten, steps can be skipped and team members can become unfocused, confused and disorganized when project management is an afterthought.
When all the critical tasks are defined and assigned and deadlines are set, a lot of waste is reduced – it can even be eliminated. Even problems and conflicts that can arise can be dealt with in a timely manner. And most importantly, the project can be delivered without any delays, which is what every organization wants.
When an organization starts a project, they have specific results that they want to achieve. And by making sure that project management is part of the project from the get-go, they increase the chance that this will happen. From helping increase efficiency to saving money and time, project management is extremely beneficial to everyone in the organization that needs projects to be on time and on budget.