12 Unknown Benefits Of project Management

Adeniyi SalauMarch 31, 2023

0 29 4 minutes read

12 Benefits Of Project Management

What Is Covered

In my previous article, I talked about all that you need to know about project and project management generally. In this article, I want to look at some of the facts that you need to know about the importance of project management. Follow me as we are going to look at this in this article.

#1 Satisfy stakeholder’s expectation

Also, good project management practices will assist the project manager in meeting stakeholders’ expectations. You need to know that your project is not successful until stakeholders are satisfied. It will guide project managers on what they need to do in order to meet stakeholders’ goals.

#2 Be more predictable

A good project management practice will allow project managers to have more predictable results. When you follow project management practices being used by other project managers from across the globe, you will notice that you will achieve success just like other project managers.

#3 Meet business objectives

One of the benefits of project management is that it will allow Organisations to achieve their objectives. There is a correlation between the organisation and the project managers. When you have a good project management practice in place, it will assist organisations in achieving their project management goals.

#4 Increase chances of success

A good project management practice will also increase the chances of success for projects. It will lay down methodologies and techniques that can be followed in order to achieve project goals. Don’t forget that these methods have been used by other exceptional project managers across the globe.

#5 Deliver the right product

Having a good project management practice in place will also allow the organisation to deliver the right product at the right time. if it had been that the organisation felt that they can do it anyhow, they will never achieve their project goals.

#6 Resolving problems and issues

Project management practices can also assist organisations in resolving issues that might come up. It is a known fact that projects are executed in order to solve them. problems or resolve issues. With good project management practice, organisations can resolve their issues.

#7 Respond to risks

A good project manager will also ensure that organisations are able to respond to risks on a timely manner. They will be able to identify potential risks and come up with mitigation strategies. This will ensure that risks do not jeopardise the project.

#8 Organisational resources

Also, good project management practices will also ensure that Organisational resources are utilised effectively. It will ensure that roles and responsibilities are utilised accordingly. This will ensure that everything works well at the end of the day.

#9 Identify failing project

There is a need for effective project management because it will help to identify, recover or terminate failing projects. It is not all projects that have a beginning that will have an end. With good project management practice, you will identify projects that are going nowhere and find a way to terminate them.

#10 Manage constraints

A good project management practice can also assist organisations in managing their constraints. As a project manager, you need to manage coat, scope, quality and other factors that need to work together in order to achieve project objectives.

Without proper management of project constraints, it will be very difficult to achieve project goals at the end of the day.

#11 Balance constraints

Another major factor that should be considered is the need to balance project constraints. You need to make sure that cost, scope and time are balanced in such a way that the project is finished within the approved cost and approved budget.

We also have to ensure that stakeholders are satisfied with the project at the end of the day.

#12 Better change management

One of the major components of traditional project management is better to change management. In traditional change management, any change that will happen has to go through the Change Management Board. They need to approve the change before or can be implemented. This will ensure that foreign deliverables are not inserted into the project.

Action Point
PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate levels, I will be very glad to do that I have trained several individuals and groups and they are doing well in their various fields of endeavour. Some of those that I have trained include the staff of Dangote Refinery, FCMB, Zenith Bank, and New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.

I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We would appreciate it if you can drop your comment. Thanks in anticipation.

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