Why Project Management Is So Very Important In Today’s Organization?

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It is quite obvious that every organization need to deal with the project. Project management turns out to be an important aspect in business as it is related to production of goods and services. The project in an organization acts in collaboration of various departments that helps to achieve a single objective that is well-defined and nicely planned.

The process would include the planning, organizing and the managing of different resources that enables to achieve organizational goal and this is known as project management. The concept would start with the idea generation and would end up in final production of goods and services.

Every step involved in the project should be categorized accordingly. To perform the project efficiently it is necessary for the project manager to handle. The manager will ultimately lead to logical conclusion. The project manager is responsible for handling the team members that comes from different background.

You need to understand that the project is not a normal everyday activity that is handled by the organization, rather is a non-routine activity that comes along with a specific time frame and can create impact on the business in long run.

There are certain characteristics included in the project:

  • Time frame:

The project would come along with definite time frame and also with the measurable starting and end point.

  • Resources available:

The project comes along with limited resources of the manpower and the capital.

  • Tools adopted:

There are some of the specific tools and techniques available which are adopted in project management.

  • Team:

The project management would include different team that stretches along the departments and functions.

Techniques involved in the project management process

The project management techniques turn out to be essential when you need to handle the project efficiently. It is vital to accomplish different steps so that you can finally achieve the main objective. There are some of the methodologies adopted by the organizations to reach the conclusion:

  • Agile methodology

It is the widely used project management techniques that are currently used in the market. The main reason behind its popularity is its ‘sprint principle.’ You can make the necessary changes at any phase of the project. The development team can suggest the changes and it is implemented in main plan.

The developers enjoy flexibility that works on the large scale projects and the Agile would contain teams that help in proper planning. The methodology is short and it can lasts for less than 10 minutes.

  • PRINCE 2

This stands for the Projects in Controlled Environments. It is actually used in case of the government projects and also adopted by private sectors in some cases. The principles are standardized and it is implemented in the organization all around the world. Each position is described clearly so that there is no confusion involved. The plan is divided into small parts so that the work is done faster.

  • Waterfall methodology

It is known to be the oldest techniques used in the software development and also involved in different IT projects. The waterfall method can be used in a sequential form so that the things can be done efficiently. There are different tasks involved in the projects such as planning, development, quality check and testing. Gantt chart is also being used to manage the activities.

  • PRiSM

PRiSM normally refers to the Project Integrating Sustainable Methods. It is the methodology which is used in real estate and also in other large scale projects. This is considered in the environmental factors and it works on different projects and the methods are suggested by PRiSM which is used even in large scale projects. The main reason to follow is to enable organizations achieve their main objective by adopting sustainable management principles.

Project management involves in the organization

The project management methodology depends on the nature of the organization. It is essential that the project management techniques work perfectly well for the specified organization so that it becomes easy to achieve success of the business.

Project management would include identifying of the needs and establishing the clear objectives. It is also important to fulfil the demands from stakeholders and also make sure to achieve a common purpose.

It is quite obvious that the organization should adopt a well-structured and a scientific method which can help the management to handle the difficult situation even in the adrift of the Ocean and it is known as the organizational development which can help to meet up with the myriad challenges even in this modern era.

The importance of the project management will not be emphasized more and there are some reasons that would influence the organization to practice the project management seriously.

Without adopting the scientific approach, the project will not be able to achieve the objectives. It is hard to execute the project successfully as there would be many constraints in relation to time, scope, quality and delivering of the required results.

There are project management that would include creating of the structure and then managing the projects which would deliver on the agreed work and offer results. The project management that is described in technical journals will make sure that you understand and achieve complete control on the project environment and also enable project deliverables.

The main components of project management

Managers would come across with the situation which is known as triple constraint. This is referred to the complete demand for time, scope as well as quality upon certain project managers. The managers are responsible for managing the constraints and they go a long way in order to understand the success of the project.

The core components are:

  • Preparing the business who can justify the investment
  • Monitor progress against any plan
  • Determine the budget of the project
  • Understand the risk and challenges related to project

It is vital to develop and also implement the necessary management plan for project. You need to understand that the project management is quite a vast area which needs complete attention and will provide you with concise idea related to the project. It is essential to understand that the project management will offer with the necessary framework that can deliver subsequent actions by the businesses adopted.

The managers and the organizations may encounter some of the unpredictable situation that demands complete control. The delivery team should be motivated so that they can work for a single objective.

Importance of the project management

  • Defining the plan and managing the chaos:

You should be certain that the projects are actually chaotic and the main function of the project management is to organize and make proper planning which will manage the chaos. The clear and simple path is designed so that the goal is accomplished.

  • Establishing the plan effectively:

Remember that you need to start it with a schedule as without a proper plan you will not be able to handle the project. A lack of schedule may lead to unwanted time consumption on a single project and incur maximum costs. The success of a project lies in its sound schedule.

  • Maximizing the resources:

The resources play an essential role and having access to the necessary resources will lead to proper completion of project. The project management would include tracking of the project and also analyse the risks involved. The resources are used economically and efficiently.

  • Manages the integration:

The projects will never take place in the vacuum. They should be integrated along with business processes, organizations and the systems. It is impossible to build up a sales system if you do not integrate it with the sales organization and sales process. The project management needs to identify and also manage integration.

  • Managing the quality:

Quality is the only value that would allow in understanding the efficiency of the items produced. The project management will identify, manage and finally control the quality. This will lead to high quality of products and services while making the client happy.

The project is responsible for bringing the people together so that you can possibly share ideas that will offer inspiration. The collaboration is said to be the cornerstone of the effective project planning.

There are some of the projects that would incur certain amount of money and this requires budget performance. While making use of the project management strategies it is possible to reduce the risk in case the budget overruns.

There is a possibility that the project might fail. In case such situation arises, then you should certainly get the opportunity to learn from it and understand the failure process. The project management will ensure that you learn from the success as well as failure.

Project management versus general management

Project management:

Project management involves organizing, motivating, proper planning and managing the process. It is important to have essential resources in hand so that the organization can achieve their specific goals for the project.

The project can turn out to be a temporary one and at times there is time constrained towards the mission that would involve in the production of specific result, product and service. The goal of the project management is to make use of the limited resources and time and then achieve the goals while providing optimum results that can add value to the project.
You will come across with various approaches to the project management. The traditional approach would include:

  • Initializing the project
  • Come up with proper planning and design
  • Emphasize on execution of the plan
  • Monitoring the systems and controlling them
  • Competing the project

General management:

General management can be explained as the way to coordinate along with use of different resources available and the time towards completing certain goals of the organization. This is the task that would comprise organizing, proper planning, leading, controlling and defining the resources, time and the people.

The general management would include manipulation of the technology, finance, human and natural resources that would maximize the benefit. The main aim of the general management is to understand the people and satisfy the stakeholders. Ultimately every organization is concerned about generating profits and this would create the employment opportunities and also produce quality goods and services at low costs.

There are six important functions of the general management:

  • Forecasting of the project
  • Proper planning
  • Properly organizing
  • Having command
  • Coordinate with other members
  • Gaining total control on the project

To become the future project manager, you need to emphasize on pursuing the right course that will enable to have the right degree in hand. Today, you can possibly attain the academic course as it is taught in different schools and universities all over the globe.

Difference between project management and general management

There are different functions of the project and the general management and it is found that they are almost similar to each other. There are only few differences that can make each of them unique and provides with their own individuality.

The project management takes up the project that is temporary and comes with a limited time limit. But in case of the general management it is an on-going process for the business and specified organization.

Management is the discipline that is now taught in the schools and project management falls under the category of the broad discipline. In case of project management, the resources are available in limited amount, but for the general management, the company provides with resources that are the key ingredients to perform the functions.

Skills essential for the project managers

The most important skill necessary for the project managers is the excellent communication skill. If you possess a good communication it is possible to turn out to be an effective leader as you can possibly carry on the projects. The project management will also include the teams from various departments who use to work together.

Project managers are concerned about maintaining clarity in their communication so that the information is delivered correctly to the team members.

Time management is also an important skill that an efficient project manager should possess. It is important to manage time and prioritize the work. The workers need to be capable of responding to the managers who can stay on the task and should avoid procrastinating on the work. This can help to maximize the productivity and also minimize any kind of distraction.

Author Bio:

Nancie L Beckett is an eminent online tutor who possess the years of experience and knowledge on management. The tutor has acquired the MBA degree from reputed university in USA. The teaching style certainly helps student to acquire information related to subject and perform well in exam.