BENEFITS OF PROJECT MANAGEMENT
What is project management? It can be defined as range of management skills and technique that involved to successfully carry out a project. Project manager are responsible to facilitate the entire process of project management to meet specific scope, cost, time and quality goals of projects. Besides that, there are some people involves in framework of project management including project stakeholders, project management knowledge areas, project management tools and techniques and the contribution of successful project to enterprise. Project stakeholders are the people involved in or affected by the project activities an includes the project sponsor, project team, support staff, customers, users, suppliers, and even opponents of the project. These stakeholders often have different needs and expectations. For example, building a new house us well-known example of a project. Project life cycle also involved in project management it can be defined as collection of project phases. Traditional project phases include concept, development, implementation and close-out phases. A management review should occur at the end of each project phase and more frequent management inputs often needed. These management reviews and inputs are important to for keeping projects on track and determining the projects should be continued, redirected, or terminated.
Besides that, there are some project management knowledge area that the project managers must develop. The four core knowledge areas of project management includes project scope, time, cost and quality management. Besides that, there are four facilitating of project areas of project management as they are processes through which the project objectives are achieved. These are project human resource management, project communication, project risk management and project procurement management. In addition, there are project management tools and technique involved as they assists project managers and their teams in carrying out work in all nine areas including, integration management, scope management, time management, cost management, cost management, quality management, human resource management, communication management, risk management and procurement management.
As results, there are many benefits exist because of successful project management which all the requirement in developing project management are involved. Firstly is the better efficiency in delivering services which during developing project management provides a “roadmap” that is easily followed and leads to project completion. Once you know where to avoid the bumps and pots holes it stands to reason that you’re going to be working smarter and not harder and longer. That is because we know the process in project management guides the project managers and their stakeholders develop the project well. The customers who needs the information and services are identified. The company know what the services that the clients need to fulfill their requirements. Besides that, ensure that are the deliverables need to be integrated or made work with others or anything else. However, the clients are need to be ensured that they are trained to use the services or otherwise the creator of the services must train their customer well. Saving time and cost. As we know, to develop a project cost is required. The company need cost in developing, implementing, running and maintain the project as it fulfill the client’s needs. With systematically project management, it can cut cost and time. Therefore, project cost management are important which all project managers must acknowledge the importance of cost management, and take responsibility for understanding the basic cost concepts, cost estimating, budgeting and cost controls. Important concept must be well understand by project manager including profits and profits margin, life cycle costing, cash flow analysis, suck costs...
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