What is Project Management and why is it is important for society? How can Project Management be applied to the real world?

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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What is Project Management and why is it is important for society? How can Project Management be applied to the real world? 

 

 

 

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Step 1 What is Project Management and its Importance

Project management is the utilization of explicit information, abilities, instruments and methods to convey something of significant worth to individuals. The advancement of programming for a further developed business measure, the development of a structure, the aid venture after a cataclysmic event, the extension of deals into another geographic market—these are altogether instances of activities.

Importance of Project Management

1. Strategic Alignment 

Project management is significant as it guarantees what is being conveyed, is correct, and will convey genuine worth against the business opportunity. 

Each customer has vital objectives and the tasks that we accomplish for them advance those objectives. Undertaking the board is significant in light of the fact that piece of a PM's obligations is to guarantee there's meticulousness in architecting projects appropriately so they fit well inside the more extensive setting of our customer's essential systems. 

Great project management guarantees that the objectives of undertakings intently line up with the essential objectives of the business. 

2. Leadership

Project management is significant in light of the fact that it carries authority and direction to projects. 

Without project management, a group can resemble a boat without a rudder; moving yet without bearing, control, or reason. Initiative permits and empowers colleagues to accomplish their best work. Venture the board gives authority and vision, inspiration, eliminating road obstructions, instructing, and moving the group to accomplish their best work. 

Project managers serve the group yet additionally guarantee clear lines of responsibility. With an undertaking chief set up, there's no disarray concerning who's in control and in charge of anything that's going on in a task (particularly in case you're utilizing a RACI graph or other comparable apparatuses). Undertaking supervisors implement cycle and keep everybody in the group in line too on the grounds that at last they convey liability regarding whether the venture falls flat or succeeds. 

3. Clear Focus and Objectives 

Project Management is significant in light of the fact that it guarantees there's an appropriate arrangement for executing on essential objectives. 

Where project management is passed on to the group to work out without anyone else, you'll discover groups work without appropriate briefs and without a characterized project the board procedure. Ventures need center, can have ambiguous or shapeless goals, and leave the group not exactly sure what they should do, or why. 

Regularly a task's objectives need to change in accordance with an appearing hazard. Once more, without devoted oversight and the board, an undertaking could quickly vacillate yet great venture the executives (and a decent task supervisor) is the thing that empowers the group to center, and when vital pull together, on their targets.

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