Why Project Management is so important in current scenario?

Before understanding why Project Management is important, let us first understand what Project Management is. According to Wikipedia “Project management is the discipline of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria. A project is a temporary endeavor designed to produce a unique product, service or result with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables) undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value.” .  Project management helps companies to maximize returns on its limited resources. With time the benefits of project management have been far reaching, which is why almost all organizations use it worldwide thus the growth of project managers as a profession has been steadily increasing and would continue to do so in the future.

As a Registered Partner of PMI, we have listed below the benefits of Project Management and why it will continue to grow:

1. Project Management helps is maximizing Returns from limited Resources: With the excessive competition in the business world today, your business can only survive through innovation and achieving maximum from the resources it has. Broadly Project Management is plan or program which uses of any strategy or technique for the successful completion of any project. It is the planning, organizing and controlling resources for the successful achievement the goals of the project. With a professional team of Project Managers it would mean that wastage is eliminated and optimum utilization of them. With competition with the dearth of resources would always mean that the role of Project Management would only become much more important. Thus as a Project Management professional it is but obvious that you would have a more thriving career in future. 

2. Project Management helps to manage risk in your business:   Risk is the part of any business. However how risk is managed is an important aspect which determines the success of any business. With project Management risks get handled much better and thus critical for your business.

3. Project Management helps your business to adapt to change: Globally everything have become very dynamic, which is why quick changes for betterment has become imperative for the growth of any business. Project Management gives a better assessment of any change which may be necessary and thus helps business to bring in any change which may be necessary.

4. Project Management helps in managing quality and meeting deadlines: Projects are always time bound and meeting deadlines are an integral part of Project Management. With Project Management thus helps your business to meet deadlines and also management the overall quality.

5. Project Management helps in learning from failure: In spite of best efforts projects do fail. However with experience gained during these project failures you need to understand them and helps you to achieve success in future.

So today Project Management globally has become the integral part of any organization, big or small and any business. The importance of Project Management would continue to grow in future too. So it is all the reason why you should become a Project Management Professional.