There is a big difference in just completing a project verses completing a project effectively to meet business goals and objectives. A business project cannot be completed successfully until and unless it is managed effectively. In today’s challenging business environment, top management must understand the supportive role that project management can play in business for bringing its growth and stability. Project management must be considered as the core of the business processes if the business management wants to pursue its plans to meet business goals and objectives). A project manager leads a group of team members just like the way a captain manages a cricket team. Project management is an important function for business and plays an important role in achieving strategic business objectives. Project management enables the business leaders to meet their business goals and objectives successfully. Project management helps the business managers to get to the end results by adopting a step-by-step approach. At the same time, project management also enables project managers to share their plans with top management to better aware on a business basis (bcs, The Chartered Institute for IT, 2013).
Project management approach is adopted by a business organization to determine that which initiatives should be taken to accomplish the organizational goals. It also helps to determine that who needs to be involved in achieving the business goals. Project management plays a vital role in developing a plan to communicate with the stakeholders of a business enterprise and also to determine the investment needed to get to the desired results (Gina Abudi, 2013). Possibly, the most important benefit of the project management is to engage the stakeholders in taking prioritized initiatives throughout the organization. Project management is also important in determining the prioritized initiatives which should be used by business management to meet goals and objectives thus it would be really helpful to increase revenues, enhancing business profitability and increasing market share.
By taking these initiatives determined through project management, a business organization can better engage and support their customers through relevant and desired products and services. Project management also ensures that these initiatives have been taken in such way that it would eliminate rework and have been launched effectively with in the span of reduced budgets and limited resources (Gina Abudi, 2013). Project management also helps business managers in contributing to organization’s success by bringing an alignment between organization’s mission statement and the actual work being done in the organization. In short, if strategy is the engine for driving the business towards its destination (goals) then project management serves as an underlying framework (way towards destination). This framework always keeps the drivers on the track. This framework put their hands on the steering wheels and guarantees that the project is heading in the right direction by protecting the business against issues and risks. (Faichi Admin, 2016).
Focusing on project management and adopting successful business tools and techniques to boost up the business performance and enhancing the profitability of a business organization, should be at the top priority for any business organization to get success. Good project management can help a business organization in different ways. Project managers can deal with unexpected issues, delays and the implications of delays – before they become problems and impose threats to organization’s success. Ineffective planning can lead towards unforeseen delays and hence damages customer relationships and interrupts normal business processes. Thus failing to deliver products in time can have direct financial or legal implications. To avoid such problems, project management can help the managers in such a way where they can make strategies at the initial stage to avoid and adapt around a potential delay.
Project management not only helps in getting excessive control over the business projects and processes but also allows basic information exchange across the enterprise and shows a clear picture of initiatives to be taken for the completion of business project successfully. Project management is also important to have an ownership for this critical function of project managers at the board level. It is one of the fundamental aspects of management and interlinked with other management areas of HR, finance, accounts, production and supply chain (bcs, The Chartered Institute for IT, 2013). Project management can be implemented successfully when the right tools for the job are there in the business place to support the business from upper to lower level and also at an each business edge.
Lahore, January 14.