Benefits of Project Management

  1. Change Management: Project Management serves as a vehicle for introducing and managing change. It facilitates introduction of new technologies. It breaks down functional barriers which resistance to change.
  2. Environmental Adaptation: Project management operates in a dynamic and risky environment. It has flexibility in operations. Adjustments can be made to adapt to changing requirements during the life cycle phases of a project.
  3. Results-orientation: Project management is results-oriented. It gets the jobs done. It aims at continuous improvement of performance. It achieves project objectives within the constraints of time, cost and quality. It promotes efficiency and eliminates waste. There is greater accountability.
  4. Coordination: The project manager has total responsibility and accountability for project results. The project manager serves as a single responsibility and accountability center. There is minimal hierarchy. This facilitates coordination across functional lines. The resources are efficiently utilized with customer focus. Decision making is faster. Conflicts are managed effectively.
  5. Team Development: A project has a multi-disciplinary team drawn from various departments. Project management creates conditions for good team work by building trust and respect. It encourages development and creativity of team members through participation. A team identity is created. Moreover, team members can be changed as needed.
  6. Re-engineering: Project management is based on temporary organization structure. It can be pure project structure or matrix structure. Generally, matrix structure is used which cuts across functional lines. The work flow is both vertical and horizontal. This facilitate re-engineering. Its temporary nature causes minimum organizational disruption. There are no long term commitments to employees. Business processes are radically redesigned.
  7. Timely Correction: Project management requires integrated planning and control. Actual performance is measured against plans. Identification of deviations is done to  take corrective actions. Problems are solved as and when they arise. This improves capacity for future planning. This also ensures adherence to objectives and to time-cost-quality constraints.
  8. Customer Satisfaction: Project management is customer focused. The results are achieved within the constraints of time, cost and quality. The needs of customers are satisfied. Satisfied customers tend to be lifelong customers.

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