Importance Of Project Management And Organizational Growth

Project Management and Organizational Growth

Project management and the growth of an organization have always remained interlinked. There is a deep connection between the two where the former directly impacts the success graph of the latter.

Though it was already known that a company’s project management framework highly impacts its growth; a wider understanding on the same has been established only recently. This particular article will help you get better insight of what exactly project management means and the importance it holds in predicting the success or failure of any organization.

What is Project Management?

As per PMI, a project is defined as “A temporary endeavor undertaken to create a unique product or service.” To complete a project,

Closing: This is the last phase in the life cycle of the project where things are summed up and a final project report is prepared. Though many might feel that this phase is not as important as the other phases, we would like to clarify that project closure does require due consideration and needs to be handled very carefully. This is so because this is the phase where your actual project results would be finally documented, and the value that the project has created along with the failures, if any, would be notified as well. Therefore, until and unless the project closure procedure is aptly done, a project cannot be considered to be successfully completed.

Importance of Project Management for Organizations

Industry experts and peers have recognized that strong project management is among the most important pillars for success of an organization. However, for relying so much on project management, it is necessary that organizations do have a clearly defined project management framework and a demarcated team of skilled and responsible members.

One of the major problems that project managers often face in carrying out perfect project management plans is what we call the “Triple Constraint”. This is where the project managers have to deal with the Cost, Time and Scope requirements of the project. Triple constraint is essentially important coz compromising on any of these three could land the project into trouble, which would not only impact the success of the project, but also

A simple and straight forward answer to the question above is YES! Project management certifications like PMI’s Project Management Professional (PMP) are internationally recognized and are widely demanded by organizations/employers all over the world. If you go to check the project management related jobs posted online, you’ll get to see either PMP or any other project management certification as the preferred or mandatory criteria for applying for the position.

There are a number of reasons why organizations give so much consideration to project management certifications and prefer hiring certified project managers. For instance, high demand for the certification from clients is one of the top reasons for the same. Leading market players like IBM give high preference to having PMP certified project managers on board as it is one of the major demand from the clients. It’s just that clients want only PMP certified managers to handle their projects as they can be better trusted owing to the domain expertise, knowledge and skillset that PMPs