Project Management: How beneficial it is for your organization?
Project management is one of those things that sounds interesting and looks easy – Let’s discover the reality!
Project Management is the discipline of using established procedures, principles and policies to manage a project and its deliverables. Right from project initiation and planning followed by execution to its formal closure, each phase of the project has its own significance and impact on the overall success of the project.
Project Management is important for the following reasons:
- Organises chaos: Projects are generally chaotic in nature, thus project management comes handy in organizing and planning.
- Risk Management: Every project has its own risk tolerance, which needs to be managed. Otherwise, it leads to quality and compliance issues.
- Quality Management: Quality of your project adds value to your final product. Maintaining quality is obligatory to both – service and product.
- Integration Management: A project well integrated with business processes and systems adds value.
- Issues Management: In order to achieve project objectives, issues and conflicts encountered should be immediately tackled effectively.
- Knowledge Management: Knowledge generated from a project needs to be managed else it fades with time.
Facts about Project Management:
- Around 40% projects meet budget, quality and schedule goals, as stated by IBM (Source: Harvard Business Review)
- Around 45% of IT in companies have no clarity about the business objective.(Source: Harvard Business Review)
- 1 out of 6 IT projects incur a cost overrun of 200% and a schedule overrun of 70%. (Source: Harvard Business Review)
- Around 80% of successful projects are headed by certified project managers. (Source: Price Waterhouse Coopers)
- 90% project managers accept that good project management is the key to a successful project delivery. (Source: ACS distance Education)
Importance of Project Management Certifications and Forums
Lately, the IT industry has become more dynamic and challenging, especially the project management segment. Resources are scarce, deadlines are short and budget is even tighter, hence careful planning and application of cutting-edge concepts is a requirement. For this, we need Project Management Professionals(PMP) or Prince2 certified managers who will increase the odds of project success and add value to your overall organisational growth. Events like Dubai International Project Management Forum (DIPMF) are a great platform where international experts participate to share their experiences and knowledge about project management. It has established Dubai as a hub for innovation and development that is pivotal to global economy.
Every organization needs to focus on project management as a strategic driver! Do you need help to enhance your project management capabilities and operational efficiency? Technoid can offer you services aligning with organizational strategy – Robust and Effective! We are a customer centric organisation that recognises, measures and provide top notch services for achieving desired goals. We believe in executing mission-critical strategy using dynamic and diverse capacity, tailored around the client’s need. We never compromise on quality!
Strategy, its timely execution and aiding success – Is what Technoid aims at!