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Why is Project Management Important in Any Field?

2 Mins read

Project management which is the application of tools, knowledge, skills to project activities to meet project requirements. Projects are being carried out in virtually every field of endeavor.

According to a report by the Project Management Institute, organizations that ignore project management record an average of more than 40% of their projects failing. This is a huge loss for organizations who ignore a knowledgeable project manager.

Failed projects simply mean bad business. That is why having a project manager in an organization is paramount to the success of that organization because a knowledgeable project manager is able to start a project and see it through till completion in a matter of time.

Project management is very important for every field so much that a lot of educational institutions are being started to offer pmp courses.

Here are some reasons why project management is important in any field:

Cost Effective Approach

Project management is important to organizations because whatever project an organization is trying to carry out, a project manager is always there to make sure that the project falls within the projected budget.

Without a project management, an organization’s might not stand a chance to succeed due to the fact that there is no professional who will monitor the progress of a project from start to finish. This will end up in wastage of resources due to poor management.

Competitive Advantage

Any organization with the right project management team will stand a chance to be ahead of their competitors in any field because they are able to approach every project with the right set of skills, knowledge and tools.

This will mean that every project being started by the organization will be finished on time by spending resources efficiently to meet the specified needs of the project.

Organizations who are able to complete projects successfully with limited resources are able to stay ahead of their competition because even the customers will choose a company that finishes projects on time.

Creating More Value

An organization with a sound project management team always creates more value for both the organization and its customers. This is true because completing projects on time means efficiently spending resources and giving better and quality services.

Organizations that are able to complete projects with limited resources stand a chance to make more impact in the society because they know exactly what the people need and therefore, they give it to them in the best way possible.

Project management is an area that cannot be left out in any organization because projects are being carried out in virtually every field of endeavor.

Therefore, projects cannot be left to unskilled people to manage them because that will be a huge disaster. Every organization need to have a project management department or partner with freelancers.

Monitoring Resource Procurement

A good project manager is able to keep cost down to the barest minimum by using only resources needed to carry out a project. Most project managers have at their disposal contractors that they can use to start and finish projects.

A sound project management team means having the right skilled people that are very well familiar with carrying out similar projects, thereby using only the needed resource to finish a particular project. Organizations should also encourage their employees to take a pmp course.

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