Project Management: Growing Importance in Organizations

A successful completion of a project depends on how well the project is planned. A project can be a simple task planned to get a desired output. Project management basically comprises of planning, organizing, directing and controlling. Successful management of project in an organization depends on how well the project has been assessed based on SWOT analysis. Project management is highly important for meeting the goals in an organization. Project management is planning the correct strategy by understanding the project thoroughly. This must be done keeping in mind the availability of resources.

Project Management basically starts with planning a project. A scheme, program, or method worked out beforehand for the accomplishment of an objective is called a plan. Planning builds a base for a project. Effective planning helps in foreseeing the necessary requirements of a project. Planning is the most crucial step as it gives a clear vision to the project. After planning correct execution of the plan is equally important as no matter how well a plan is made if the execution fails the plan fails. Correct execution requires effective control and clear direction. So a mix of good plan, correct execution with control and clear direction can result in a successful completion. Project management is all about calculating the pitfalls and creating outlets to avoid the consequences. All the projects share a common aim – following ideas and activities to shape them into working realities. Even if the project is well planned and carried well still the possibility of encountering dangers exist. Organizing, staffing, guiding are equally important steps in successful execution of the project. The main objective of an effective project management is to get planned end results considering the expenditures and time availability.

Good project management

Nowadays every organization is interested in expanding their business, which is mostly done by investing in big and highly lucrative projects. For successful completion of a project companies need to have good project management. Good project management can be easily acquired but it needs continuous overlook. Project cost must be assessed properly so that there is optimum utilization of resources. The goals and plans need to be so clear that everyone understands the requirements of the project. 

For an effective project management a project manager must work to the best of his/her abilities. In any organization the role of a Project manager mainly revolves around planning, execution, controlling, directing and proper closing of a project. A project manager is the key person in an organization accountable for successful accomplishment of a project. Key project management responsibilities include creating clear and attainable project objectives, building the project requirements, and managing the constraints of a project which are cost, time, and scope. A project manager will help define the goals and objectives of the project, determine when the various project levels are to be completed and by whom and he even creates quality control checks to ensure that completed levels meet a certain standard. Staffing is also important from the success point of view so employing right people who can do justice to the job is very important. So, every organization must understand the needs and importance of the project for laying down a clear picture for the successful management.