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Meaning and Importance of Project Management

When today’s business environment is analysed, it becomes certain that due to intense competition and globalisation, corporations are looking for the ways to increase productivity with a limited budgets, resources and make correct decision in order to continue their operations successfully. Therefore, increasing effective and efficient usage of resources and gaining competitive advantage requires great ability of management of certain tasks or projects in a timely manner which overcomes challenges, makes a company flexible to adjust to change and achieve higher performance. For this reason, project management becomes essential to most corporations since it contributes to the overall success of firms.

Before realising the meaning and role of project management in business world, it is useful to analyse what the project itself is. From my perspective, project is a set of tasks which is designed to achieve to singular goal during a limited period and with a certain cost. It can be various in terms of business concentration and plan such as construction of building, development of software, expansion of product line and etc. However, project management is the application of methods, tools, knowledge, skills and to achieve the project objectives. It includes managing different stages of task but the way of management may vary depends on scale, significance and complexity of project. In my point of view the main attributes of successful project management are discipline communication and process. In my opinion, good manager should first set methods to determine final goal, plan and control each stages, then lead the project and motivate his/her team. If project management is properly and timely applied it will end up with desired outcomes such as profits to the business and increase in company’s goodwill. Hence it is accepted as a supportive department of entity which is created to enhance the success.

Category: What is Project Management | Views: 171 | Added by: vhuseynli2019 | Rating: 0.0/0
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