ICPM

This email address is being protected from spambots. You need JavaScript enabled to view it. This email address is being protected from spambots. You need JavaScript enabled to view it. The International Community for Project Managers
Brought to you by TenStep, Inc.
2363 St. David's Square
Kennesaw, GA 30152
877-536-8434 or 770-795-9097

This email address is being protected from spambots. You need JavaScript enabled to view it.
You are here: Home Blogs Five Key Benefits of Project Management
Friday, 07 April 2017 20:17

Five Key Benefits of Project Management

Written by 
Rate this item
(0 votes)
This content is from the Method123 weekly email dated 2017.60.03

Five Key Benefits of Project Management

Every once in a while it is worth reminding ourselves of the value of project management. For us that are in the project management field, there should be no question that project management provides value to an organization. However, when you meet skeptics, are you able to articulate the benefits? Here are five key benefits. 

Better Planning Helps Set Better Expectations

How many times have you heard about or been involved in a project that was not as successful as it needed to be. Did you ever spend time looking back to see what caused the project to go wrong? If you did, chances are that you said, "You know, we should have spent more time planning."

Project management focuses first on planning the work. This is a vital discipline, and allows the project team and the customer to have common perceptions of what the project is going to deliver, when it will be complete, what it will cost, who will do the work and how the work will be done.

Value statement: Project planning helps sets realistic expectations, establishes the path to success and makes sure that the right work gets done. 

Save Time with Standard Processes and Templates

People intuitively understand that it is faster and cheaper to reuse something that already exists rather than to build something similar from scratch. If your organization creates a set of project management processes and templates that are used consistently from project to project, each instance represents a savings of time that would otherwise have been spent on building the processes from scratch.

Value statement: Utilizing common project management processes and templates saves the cost and time associated with having to develop them from scratch on each project. 

Utilize Proactive Project Management Processes

People who complain that project management is a lot of 'overhead' forget the alternative. Your project is going to face issues. The question is whether you will proactively resolve them or figure them out as you go. Your project will face potential risks. Will you try to resolve them before they happen, or wait until the problems arise? Are you going to communicate proactively or deal with misunderstandings caused by lack of project information?

The characteristics of the project are not all going to change whether you use a formal project management process. What changes is how the events are dealt with when the project is in progress. Are they dealt with haphazardly and reactively, or proactively with a smoothly running process?

Value statement: Having proactive project management processes in place allows you to anticipate what will happen on the project and be prepared for various contingencies. This will ultimately help projects run faster, cheaper and at a higher quality level.

Avoid Surprises with More Effective Communication

If stakeholders are not kept informed of the project status, there is a much greater chance of confusion due to differing expectations. In fact, in many cases where conflicts arise, it is not because of the actual problem, but because people were surprised. Project management provides a structure and a vocabulary to communicate what is going on.

Value statement: Proactive communication allows you to better manage expectations, avoid misunderstandings and conflict, and provides better information for decision-making.

Build a Higher Quality Product the First Time

Practicing simple quality management helps you deliver to a higher level of quality and avoid the expense and time of having to fix things after the fact. This helps avoid quality problems and rework that surface toward the end of the project. The entire project can be completed better, faster and cheaper. 

Value statement: Quality management helps you build your deliverables correctly the first time and saves time and costs by discovering problems as early in the project as possible.

Summary

It is not possible to give an exact set of arguments that will convince executives at every company. The arguments you use for one company might fall completely flat at another company. However, regardless of your situation today, the basic value points above probably hold true in every company.

At TenStep we are dedicated to helping organizations achieve their goals and strategies through the successful execution of critical business projects. We provide training, consulting and products for organizations to help them set up an environment where projects are successful. This includes help with strategic planning, portfolio management, program / project management, Project Management Offices (PMOs) and project lifecycles. For more information, visit www.TenStep.com or contact us at This email address is being protected from spambots. You need JavaScript enabled to view it.
Read 1113 times
Login to post comments

News and Promotions

Keep up to date with the latest happenings by signing up for our newsletter. Subscribe below.

Twitter Update

Who's Online

We have 341 guests and no members online

Got something to say?