Understanding The Real Importance Of Project Management

Understanding The Real Importance Of Project Management



When you look at our society today, most especially when it comes to politics and governance, you will agree with me that we have a big problem. We have almost every nook and crannies of our society filled with a failed projects. Hardly will you see a new government that is willing to continue with projects that are started by the last administration. We continue to run a government of waste. That is why we have so many abandoned projects here and there. In this article, I would like to talk about the real importance of project management. Follow me as we are going to look at that in this article.


The need for project management cannot be emphasized in any society or organization. When we have proper project management practices in places in organizations, there are many benefits that the organization stand to benefit from such practices. There is a saying that you cannot be doing things the same way and be expecting that you will be getting different results. If you want a moving society, then all facets of our society need to embrace the practices of having sound project management principles.


Here are some of the things that organizations stand to benefit from good project management practices.


#1 Reduced Rate of Abandoned Projects

The reason why many started projects and they were not able to finish is because they failed to see that endeavour as a project. When proper project management practices are being followed, you will be observed that the rate of abandoned projects will be reduced. Many organizations started projects and they were not able to complete them because they failed to count the cost. If you have sound project management practices, you would have counted the cost before you even start off the project.


#2 Better Coordination

Also, with sound project management practices in place, there will be better coordination of tasks and assignment that any organization wants to achieve. With that, there will a Professional Project Manager assigned to manage the project. One of his main duties will be to manage team members and coordinate their efforts towards achieving the project management objectives.


#3 Proper financial Management

Also, with good project management practices in place, there will be proper financial management and accountability of project resources. As the project manager, you would have liaised with team members and other stakeholders in order to determine how much it will cost to execute some of the tasks of the project. This would have allowed you to determine whether you have what it takes to achieve the project objective. It will also ensure that you are not spending more than what is expected for each of the project tasks.


#4 Stakeholder Management

Good project management practices will also assist you in managing your stakeholders and achieving your project goals. Stakeholders are individual that will be affected by the outcome of your project. When your stakeholders are properly annexed, they can assist you in identifying pitfalls in the project and assist you in navigating it. Stakeholders are the best in removing hindrances that may stand in the way of your project.


#5 Proper communication

Also, it has been observed that a good project manager spends about ninety percent of his time communicating with stakeholders. When you have a good project management practice in place, it will ensure that stakeholders are carried along as you strive to achieve the objectives of your project. Without a proper communication management place in place for your project, it will be difficult for you to determine who your stakeholders are, talk less of discussing how you will carry those stakeholders along in your project.



Action Point

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