Created: 11 April 2022

Why You Should Invest In Project Management?

Project Management is the process that facilitates organisation within the teams around the world. Good management skills are essential for any project to be effective. Read on to see why is it that important and how can it benefit your career. 

Keyword(s): project management

What is Project Management 

Wikipedia definition says that "Project Management is the process of leading the work of a team to achieve all project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process." Therefore we can say that the role of the PM is critically important for whole organisation. By using right methods and having well-developed skills they can manage the projects that will meet defined deadlines, budget and maintain desired quality. 

What are Project Management approaches

There are several methodologies that differ from each other due to what they focus on and what approach they require. 

PMBOK®(Project Management Body Of Knowledge) is closely related to the skills, like budgeting and sticking to the planned budget. 

PRINCE2®(PRojects IN Controlled Environments) is widely used in English-speaking countries. It is mainly used to clarify the roles among the team, to manage project risks and establish costs. 

Agile Project Management® is another popular approach that often works well for projects in complex, fast-moving environments, because it allows you and your team to respond flexibly to changing needs and requirements.

Why is project management important?

Have you ever wondered why is Project Management important? Well, good Project Management leads to success. And success of the project leads to success of the organisation, and so on, and so on. The role of Project Manager is essential. They keep the project together, manage resources so that the project meets objectives and is done on time and within the outlined budget. 

Projects are often complex and require proper management so that nothing goes wrong along the way. That's why we need Project Managers. They can motivate people, draw them clear goals and keep everyone up to date with the project scope.

Though we cleared out some of the approaches, now let's go further. Take a look 6 main reasons why you should use Project Management and what are the most important principles:

1. Realistic planning

To plan the project correctly you need to look at "the big picture" to set realistic goals that are achievable. To set those goals Project Manager should understand business objectives. They communicate, do research and based on the collected information, they outline the plan. 

2. Clear objectives

To succeed you need to have clear goals. Otherwise you are risking to miss your deadlines or cross tou budget and lead project towards failure. 

Also, it is important to introduce clear goals to your team so that everyone is aware of them, which can save from arising of potential risks, that could take your project down the wrong path. 

Therefore, a good Project Manager controls all the factors and facilitates their team to do their tasks efficiently and according to the plan. 

3. Strategic alignment

Aligning project with overall business strategy is very important, because the management of projects is clolesy related to organisational strategy. By not aligning these two factors, you might lead to reducing the results of the entire organisation, instead of increasing them. 

4. Quality control

It is very important for your project to meet its deadlines and budget. If you fail to meet them, the project might fail. 

That's why the role of Project Manager is needed - they manage deadlines and objectives and controll how the tasks are being done by their team. They also control quality standards and make sure that the project is managed according to them. 

5. Reduced costs

Successful Project Management can really reduce costs by optimising resources or improving efficiency. 

By following the above-mentioned principles, you can make your projects be managed efficiently and lead to success. Project Manager is a person who has many aspects of the project "on his head", such as keeping an eye on the budget, supporting the team, keeping the deadlines and controlling the quality during the project duration.

Important skills that are useful are:

Communication

Project Manager must properly communicate with the team, be for them, not only as a manager, but also a support, a person who motivates them and is a good leader.

Leadership

Of course, the project manager must support his team and be friendly, but he must also be able to lead and take the initiative. His actions should motivate the team and at the same time show them the right way.

Organisation

Organisation is the key to success. Due to the fact that the manager's task is to take care of many aspects of the project, all processes must be well organised.

Problem-solving

During the course of the project, it is inevitable that major or minor problems will arise. Solving them is the responsibility of the Project Manager. He must keep a cool head and gradually try to solve all difficulties so that the project does not suffer from it.

When it comes to Project Management, there is a lot of information and also a lot of possibilities. Project Management facilitates the work of teams around the world, and successful Project Managers are very much in demand on the labor market. If you cultivate your management skills, you can achieve a lot. If you want to educate and develop, take a look at the courses on our website and develop your management skills to manage your projects more efficiently.