Why Project Management
Project Management helps in strategically laying an outline for a product's (or service's) development, with the focus on cost and risk reduction while, improving success rates. There are multiple advantages of having project management in an organization, the main one being that it gives the ability to define and control the project scope. It gives the capability to accurately project resource requirements and time distribution for a successful outcome. It helps in assessment and mitigation of project risks. It also gives a sort of mechanism to measure performance and track milestones.
Leading organizations all over the world and across multiple sectors have progressively started implementing project management as a way to improve project results and control spending. The thing that makes one company better than its competitor, is its ability to deliver its product or services on schedule and it has been observed that the company with a better implementation of project management has won the race.
“Good project management discipline stopped us from spending money on projects that fail,” says Ron Kasabian, general manager at global IT giant Intel, Folsom, California, USA [2].
Businesses that have turned to organizations that offer Project Management as a service also have clearly seen the payoffs in the form of reduced failure rates and high efficiency.
“A strong project management discipline brings exceptional value to the business, because when there is a demand for a product, we are the ones who deliver it,” says David Buisson, PMP, program manager at Headland Project Management Ltd., which is currently managing the Terminal 3 redevelopment project for BAA Airports at Heathrow Airport in London, England. “We are a key part of the business, and we adhere to the same rules, rigor and commercial goals as the rest of the organization.” [2]
The State of the PMO (Project Management Office) 2010 reported that PMOs helped in:
Leading organizations all over the world and across multiple sectors have progressively started implementing project management as a way to improve project results and control spending. The thing that makes one company better than its competitor, is its ability to deliver its product or services on schedule and it has been observed that the company with a better implementation of project management has won the race.
“Good project management discipline stopped us from spending money on projects that fail,” says Ron Kasabian, general manager at global IT giant Intel, Folsom, California, USA [2].
Businesses that have turned to organizations that offer Project Management as a service also have clearly seen the payoffs in the form of reduced failure rates and high efficiency.
“A strong project management discipline brings exceptional value to the business, because when there is a demand for a product, we are the ones who deliver it,” says David Buisson, PMP, program manager at Headland Project Management Ltd., which is currently managing the Terminal 3 redevelopment project for BAA Airports at Heathrow Airport in London, England. “We are a key part of the business, and we adhere to the same rules, rigor and commercial goals as the rest of the organization.” [2]
The State of the PMO (Project Management Office) 2010 reported that PMOs helped in:
- Decreasing the number of failed projects by 31 percent.
- Delivering 30 percent of projects under budget.
- Demonstrating a 21 percent improvement in productivity.
- Delivering 19 percent of projects ahead of schedule.
- Saving companies an average of US$567,000 per project.