ADVANTAGES OF PROJECT MANAGEMENT

hey !

you must be thinking that, why is it necessary to manage projects? or, why is  Project Management so important ?

So, by reading this blog you it will make your doubt clear. we all do project work in the era where the whole world are considered as a single market. Technically, it is called Globalization.

The developments of people are done through the different kinds of projects irrespective of its size, legal structure, country, nature of funding sources and ownership. So, everyone needs to know about the importance of  project management.

I have written a separate blog to make you familiar about the meaning and definitions of project. For further details please read it, from the following link : https://managementknowledges.blogspot.com/2016/12/project.html

Similarly, for the further details regarding the meaning and definition of project management.

The benefits of project managements are as follows:

1. Customer satisfaction
2. Timely correction
3. Result orientated
4. Co-ordination
5. Change management
6. Team development
7. Environmental Adaptation
8. Others:

The above points are briefly explained as below:

1. Customer satisfaction :

Project managements are customer focused management. Whether it be a means or ends, all the projects have its own set of targeted customers. when a projects are properly managed then the projects will definitely be completed at its predetermined time, cost and quality. So, all the targeted customers will find the product or services more valuable.

2. Timely correction :

As we all know that, project management requires a lot of planning and control techniques. So, any actions or decisions may lead to run or stop the projects. All the projects operates in dynamic and contemporary environments. So, the environmental influences are bound to effect the projects. It can lead to opportunity or threat to the project. Through effective project management, a project manager applies proactive strategic methods. Actual performances are matched with the target performances, problems are identified and timely correction of different obstacles are made. Thus, even the threats are converted into opportunities.

3. Result orientated :

All of the Projects have its own specific objectives and its own specific group of beneficiaries with definite life span. Through effective project management, the project managers focuses upon its predetermined objectives. Therefore, through proper accountability, responsibility and authority distribution, it makes the projects result oriented.

4. Co-ordination :

Project management bridges the gaps that are incurred between different functional lines. It minimizes the hierarchy levels and conflicts through proper project planing and co-ordination between them.

5. Change management :

Project management serves as a vehicle for adapting towards the environmental changes. This is done through proper project planning and breaking the functional barriers.

6. Team management :

A project has its own team members. They come from various culture and demographics. some come from other departments. Project management establishes such an environment that builds trust and respect among the team members. This makes good work culture and therefore, the developments and creativity of the team is increased. This encourages them to meet their targets in better way. For more details, please refer to the following link: https://managementknowledges.blogspot.com/2016/12/common-barriers-to-project-team.html and https://managementknowledges.blogspot.com/2016/12/how-to-overcome-barieers-in-project.html

7. Environment Adaptation :

Environments are risky. They may bring opportunities as well as threats for the projects. During the life span of project, different environmental changes are found. Project management provides sufficient rooms to cope to such environmental changes. It not only adapts to the environmental forces but also converts the threats into opportunities by making suitable adjustments whenever required.

8. Others:

• Stress management 

• Organizational re-engineering

• Economic growth an development

• Time management

• Resource management

• Infrastructure development

• Stratification of society

Project management is done by the project manager. Therefore, one must be aware about their roles. For details regarding the roles of project manager.





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