Benefits of Project Management

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Introduction

Project management can simply be explained as the application of processes, methods, knowledge, skills and expertise to achieve planned objectives, which could be defined in terms of outputs, outcomes or benefits. For any endeavor to be successful, careful planning and control measures have to be employed and targets set within specific timelines for a project to be achievable and successful ( MELTON, T., ILES-SMITH, P., & YATES, J. W. 2008).

Discussed below are the benefits of project management.

Efficiency in delivering services

When project management is applied, there is a clear direction as to how a project will be completed in time and under budget. This leads to increased output in terms of quantity thereby saving time and relevant costs by avoiding the loopholes that could have been encountered with if there was no planning in the first place (GREAT BRITAIN. 2002).

Effectiveness in delivery of services

Project management makes use of strategies that will allow a certain project to be completed successfully. The application of these strategies can be replicated and serve the project management team many times over creating effectiveness in delivery of services. This subsequently leads to increased quality.

Improved customer satisfaction

A project is conducted to serve a particular group of people who are basically the recipients of the project. When a project is completed on time and under budget the customer walks away happy improving client manager relationship which leads to a repeat order for other projects or even referral to other clients (THOMSETT, R. 2002). It is important to note that for this to be achieved, smart project management tools must be applied by the project management team.

Increased risk assessment

Before any project is completed, there are different stages involved. Specifically, this involves initiation, definition & planning, execution, performance & control and finally project completion. Potential risks may arise at any stage during the project and therefore project management provides strategies that can raise such reflags before working on project completion (HELDMAN, K. 2011).This enhances mitigating the risks if the project is underway or avoidance of the risks completely with an early detection.

Better flexibility

The beauty with project management is that there is no one definite way or roadmap to get something done. Once a strategy is in place to conduct a certain project by any organization especially by the small and medium sized companies, any route can be taken as long as it is a smart move. This flexibility enhances creativity and better ways of getting things done thereby avoiding unnecessary bureaucracies and costs associated with project management.

Competitive edge

Word travels fast and quality performance is necessary to secure a place in the market place. Good project management practices within the workplace and outside provides greater standing and builds a good reputation thereby making such an organization approachable to different clients. Great performance leads to more opportunities to expand the services offered.

Conclusion

As noted above project management has various benefits such as efficiency in delivery of services, effectiveness in delivery of services, improved customer satisfaction, increased risk assessment and a competitive edge without which a project cannot be deemed to be successful even with its completion ( PROJECT MANAGEMENT INSTITUTE 2013).

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