If you have ever worked with a project manager, you may be tempted to save money by managing the project on your own. In the end, investing in professional project management might be costly, so you might as well do it yourself.
To do so may out to be an error. You shouldn’t until you hold the PMP certification.
A successful project manager acts as the glue that holds everything together, making sure that everyone stays on the same page and the project is completed on time and under budget. The PMI reports that businesses who undervalue project management are more likely to see a total project failure rate of 50%. A failed project has the potential to completely derail your plans and put your company’s progress on hold.
Timeliness and fiscal planning are only two aspects of project management. In order to guarantee that the project’s ambitions and goals are strategically linked, that stakeholders are on board, and that everyone involved is kept in the loop, a skilled project manager will take charge from the very beginning.
Why is it crucial to have a project manager?
The success of a project depends on having a dedicated project manager in charge of steering the ship and keeping everyone up to date on developments.
Organizations that employ any sort of project management approach are more likely to succeed in their stated goals of meeting budget, staying within schedule, respecting scope, quality standards, and expected benefits, according to Project Management Institute (PMI) guidelines.
Here are 5 examples where project management would have been useful.
1. Helps planning projects realistically
The value of a well-planned project cannot be overstated. Organizations frequently fail because they overestimate how quickly they can complete tasks or because they underestimate the amount of money the task will cost.
An effective project manager looks at the big picture to establish achievable objectives, spending limits, and deadlines. A project that isn’t well-managed is doomed to fail before it even begins.
2. Promotes concentration and purpose
Prior to now, the lack of well-defined goals was the leading cause of project failure. Project managers aid businesses in clarifying their top priorities and establishing concrete project objectives.
When the team is responsible for managing the project, it’s simple for the scope and the objectives to become muddled. A lack of concentration can lead to scope creep, missed deadlines, and overrun budgets.
Furthermore, many teams may miss potential risk indicators without a project manager overseeing project plans and task breakdown. The team may place the wrong tasks at the top of their list if the developing hazards of the project are not addressed.
So that the team can prioritize their efforts where they will have the greatest impact and respond to changes as they arise, a competent project manager keeps tabs on all of these variables.
3. Helps in alignment of strategies
Aligning projects with corporate strategy is a crucial benefit of using project management. Without competent project management, your company’s ability to execute its strategy is severely compromised.
In other words, the strategy of an organization is determined by how well projects are managed. If you don’t incorporate it into your plans, you’ll be passing on a major development opportunity.
Project managers play an important role in making sure that the project’s overarching goals and the activities and milestones leading up to them are in line with the business’s overall strategy. Strategic alignment at every stage of the project keeps everyone in the loop and guarantees that your efforts have a positive impact on the business.
4. Process administered
Proactive in nature, the goal of project management is to ensure that the right people are working on the correct tasks at the right times. Without a consistent approach to managing projects, many groups respond to issues as they happen rather than anticipating them, preparing for them in advance, or establishing clear boundaries for them.
Tasks are broken down into more manageable chunks with the assistance of project managers. Project managers can better guide their teams and address issues more rapidly if the project is broken down into discrete tasks, milestones, and due dates.
5. Quality Assurance
When managing a project, quality assurance is crucial. Even if you manage to complete your project inside the allotted time and within budget, it will still be deemed unsuccessful if quality is compromised.
Sadly, this is a trap into which many people easily fall. Teams face intense pressure to complete their projects on schedule and within their allotted budgets. This can cause people to rush through their work and make mistakes.
A project manager’s expertise lies precisely in these areas. You need to know about PMP certification cost. They keep track of milestones and goals, but they also keep an eye on how well each project work is being completed. The project manager’s role is to define the deliverables and establish quality standards for them.
