Project Management is often talked by advocates with a kind of a reverence; they claim that Project Management can cure any business ailment. But for the rest of us we’re left asking: what is all the fuss?
Before we get into the benefits of Project Management, let’s clarify what we’re talking about. So, what is a project?
- A set amount of money to spend
- Something which has a defined life span
- Defined organisational outcomes, set resources, both time and cost
- Responsibilities for all those involved
Project Management is the management and leadership of all of these elements. So, now that we have that defined, just what are the top five benefits of Project Management for your organisation, your team members and most importantly, your customers?
Increases and improves and enhances client expectations and service – This has to be at the top of the list. Project Management enables businesses to clearly explain the project process, quote time and cost with confidence. Ultimately, delivering to the client the product or service as defined in the agreed scope. Project Management is a win for all involved: for the client, they get what they asked for, the business, you know what it is going to cost and how long it is going to take, and for your staff, they know where they are heading and what is expected. Project Management gives all those involved peace of mind, for any type of business.
Competitive edge – As mentioned above, all this clarity helps give your business direction, certainty and outcomes. Project Management gives your business the ability to respond and move faster than your competitors, manage those risks to success and exceed the expectations of your clients
Increases service standards and efficiencies – Intrinsically linked to the point above and simply put, if you know where you’re heading, you can get there quicker than having to figure out the route every time! You can also manage your staff resources better, because you know the extent of your client’s work, and your cash flow, because you know your incomings and outgoings. Ultimately, you can increase your quality and quantity of delivery.
Improved team work – Once you have more than one person involved in a piece of work, Project Management is a powerful tool which ensures success. Project Management allows your staff to understand who is doing what, when and why.
Better flexibility to respond to changes – Project Management by nature allows you to set up a direction or strategy of where you are heading. The best outcome of this is because you have set the foundation, when things change your business will be able to understand the impact of the change and what to do to manage it. Project Management allows you to respond quickly and effectively to manage any changes to your business.
So, how does Project Management achieve all of this?
The answer is simply found by looking at the purpose of Project Management. It provides businesses and staff with a repeatable way of working through business change or client delivery. Project Management reduces the chaos and increases your business’ chance of success.
Think about the last business change or client project undertaken by your business. Did your project:
- Achieve all its objectives?
- Realise its benefits?
- Deliver on time?
- Cost what it was quoted to?
- Exceed your client’s expectations?
If you answered “no” to any questions above, consider the benefits of Project Management for your business. So the fuss is very real. Project Management may just be the answer to all your business challenges.