Project management is vital for business success
Business colleagues shaking handsIn today’s challenging economic environment, senior management needs to understand the fundamental supportive and strategic role that project management plays in business.
If companies are to pursue their plans for stability and growth they need to cease seeing project management as a functional activity and place it at the core of their business processes. At the same time, project managers and planners share the responsibility to engage better on a business basis with senior executives.
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We must disabuse ourselves of the notion that project management is ...view middle of the document...
Boards can no longer afford to make assumptions about projects; they are operational realities and for businesses to run effectively, clearer insights are required. As the old maxim goes: if you fail to plan, you plan to fail.
In today’s climate, this an unacceptable level of business risk and can lead to money going down the drain. As Peter Jones of Canon Europe, points out: 'every business today has to keep costs under control, and everyone is under pressure to get their product to market more quickly and within budget. So careful resource management is critical to ensure there is no wastage of time or money.'
If business failure is linked to project management failure, there are many ways in which a business can understand what the reasons behind them are.
Here are the five top ways that good project management can help your business. For more information sign up to a FREE webinar.
Dealing with the unexpected - before it becomes a problem. Dealing with unexpected issues, delays and the implications of delay can have serious impact on a business. Unforeseen delay thanks to ineffective planning, scheduling or neglecting to test assumptions can damage customer relationships, create extra costs and interrupt key processes. This can create a knock-on effect; for example, failing to fulfil on a service level agreement or failing to deliver to a customer on time can have direct financial or legal implications. The ability to manage a project in a way which enables you to see and adapt around a potential delay can avoid these problems occurring in the first place.
Protecting the company. Managing operations via a solution which enables a full, complete and comprehensive capture of each step of a project or a delivery process, including exactly what happened when and by whom, provides protection by enabling later investigation and discovery and can even provide legal evidence about adherence to an SLA, a contracted commitment or even regulatory compliance.
Gaining management support. Buy-in or funding can delay the start of a project and also enable effective resolution when and if problems crop up during a project. Clear senior stakeholder communication is vital throughout, but in supporting projects the content of the reports must be at the appropriate high level.
Ensuring consistent and dependable delivery every time. Dependability is one of the most important factors in good client relationships and reputation, as well as business success. Achieving what you set...