Strengths and Weaknesses of Project Management

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Strengths and weaknesses of Project Management
Project management is an essential system in handling projects which brings benefits to clients, manager and workers. There are pro and cons in applying project management in term of quality, cost-savings and time of delivery. However, strengths far outweigh weaknesses in most cases. Strengths, Weaknesses, Opportunities and Threats (SWOT) Analysis SWOT analysis is a tool that being used to evaluate an organization’s strengths, weaknesses, opportunities and threats for development, formulation and assessment of project management plans. This basic management tool is easy and straightforward to be used so anybody can use it for their work. (Project management knowledge, 2007). Strengths and Weaknesses are categorized as internal factors while Opportunities and threats are considered as external factors which are uncontrollable. •Strengths: An element which enable us to complete mission successfully which is the basis on which continued success can be continued or sustained (Management study guide, 2008) •Weaknesses: Qualities that prohibit allow us to accomplish goals which will influence the organization growth and success. Eg: poor decision making, narrow product range and etc. (Management study guide, 2008) •Opportunities: Opportunities are presented by the environment within which our organization operates. These arise when an organization can take benefit of conditions in its environment to plan and execute strategies that enable it to become more profitable. (Management study guide, 2008) •Threats: Threats arise when conditions in external environment jeopardize the reliability and profitability of the organization’s business. Threats are uncontrollable. Eg: unrest among employees, ever changing technology. (Management study guide, 2008)
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