When you think of a ‘project’, you think of something ‘big’ and ‘important’. When something is big and important, everything matters! The context of the project may differ from one organization to another, but the purpose remains same – execute it successfully. Hence, project management comes into the picture.
Here are ten reasons why project management is considered the backbone of any project.
- Make Structured Plan
Planning is the first stage of project management. It lays down various sub-goals that are necessary to achieve the end goal in the given timeline.
- Allocate Resources
A project consumes time, money, labour and materials. If they are not allocated appropriately, the operational efficiency can be adversely affected and result in high costs. Project management ensures right allocation of resources.
- Establish Communication
A project is handled by many teams. Lack of proper communication channels can hamper productivity. Project management keeps communication flowing without any interruptions.
- Team Co-ordination
When there are too many heads working on a project, it is natural to have conflicts and lack of coordination. Project management lays down the hierarchy to monitor team issues and make them work in collaboration.
- Track Progress
Remember, we talked about mini goals in the first point above? Project management helps you to keep a tab on every mini goal so that you know that project is progressing as per the schedule. If there are any deviations or loopholes, they can be easily captured in a timely manner.
- Hire Right People
If people working on the project do not have necessary experience or qualifications, projects are doomed to fail. However, a project management strategy enables you to determine the necessary talent you need to hire. It is always advisable to recruit people who can show project management certification courses on their resume.
- Maintain Quality
When a project is long-term or complex in nature, it may be difficult to maintain the consistency of quality. Project management makes sure that standard quality norms adhere throughout the project.
- Control Costs
It is not uncommon for projects to deviate from their original budget. As the project moves ahead, additional costs may be incurred. However, by implementing a robust project management strategy, you can ensure that budget does not overrun.
- Respond to Changes
In the course of project execution, unexpected business, economic or any other changes may arise. Project management helps you to anticipate such eventualities and minimize risks.
- Learn from Execution
Project management enables you to document each and every aspect of the project. If it is successful, you know what went right. If it fails, you learn your lessons. Either way, there is learning for future projects.
If you want to pursue a career as a project manager, think about enrolling in project management certification courses!