PROJECT MANAGEMENT IMPORTANCE
The importance of project management in organizations can’t be overstated.
When it’s done right, it helps every part of the business run more smoothly. It allows your team
to focus on the work that matters, free from the distractions caused by tasks going off track or
budgets spinning out of control. It empowers them to deliver results that actually impact the
business’s bottom line. And it enables your employees to see how their work contributes to the
company’s strategic goals.
BENEFITS OF GOOD PROJECT MANAGEMENT:
Save time and money
With the right planning, you can ensure that your work is delivered on time and within budget.
Using project management methods, you can map your project’s journey from the outset and
know in advance where the deadlines — and projected spend — are going to fall, so you can
more efficiently allocate your resources, helping you to avoid delays and project overspend.
Improve internal communications
Working together can be hard. With more efficient project management processes, you can
reduce the complexity of collaboration, increase transparency, and ensure accountability, even
when you’re working across teams or departments.
Make better business decisions
With clearer records of how your project is progressing, you get a deeper understanding of
where your resources are being spent, what you need to prioritize and when, and if you’re at
risk of going off track. Good project management means that you can forecast issues before
they become issues, prevent bottlenecks, and make smarter, data-driven decisions.
Iterate on your successes
Project management helps you to scale high performance and build on your team’s best
practices. By using the data and learnings from previous projects, you’re able to pinpoint where
your team is excelling and where there’s room for improvement. And by measuring your KPIs
you can create and track personalized benchmarks to understand how your team is performing
project over project.
Better project planning = better projects
With a solid plan at the outset, you can:
Get stakeholder alignment from the beginning, helping you to get buy-in, minimize
bureaucratic pushback, and set the project’s scope. In fact, spending a little extra time
getting this alignment at the start of your project can save you tons of heartbreak down
the line, because it removes ambiguity and gives everyone a clear outline of what’s
expected.
Ensure everyone is on the same page and that they each know exactly what they have
to do and when — so no more “but I thought someone else was handling it” mishaps.
Flag the risks in advance, so you know the warning signs to watch out for. These will
vary from project to project, but could include things like: one major deadline that will
have a knock-on effect on the others if it’s missed; a budget overspend that means you
have to take money from somewhere else. Once you know what you need to be on the
alert for, you’re better able to catch when you’re going off track and course-correct in
the moment, instead of when it’s too late.
Make sure that each project has a strategic goal. Bye bye busywork. When you have a
solid project management plan in place, you can ensure that each project contributes to
your overall strategic goals.
Expect the unexpected. Planning doesn’t mean there’s no room for change. The best
planning has a little wiggle-room built in from the very beginning, so you can adapt and
stay. (More on that later.)
But these are just some examples of the importance of project planning. When it comes
down to it, better project planning can revolutionize the work your team produces — and
the results it gets. That means happier stakeholders, more fulfilled teams, and, if you’re
working in a client-facing industry, more satisfied customers (and more glowing
reviews).