12 Benefits of Project Management Adoption
In many of my previous articles, I have had to look at some of the ways that project management adoption can guarantee project success. Project management from PMI consists of best practices that you need to adopt in order to succeed as a Project Manager. In this article, I will be looking at twelve benefits of using project management in any organization.
#1 Meeting project objectives as part of the project management adoption strategy
One of the benefits of project management practice in project execution is that it will assist the organization in achieving its objectives. This will allow the organization to analyze its projects and know what it takes to achieve the project objectives. It will also help them to identify some of the risks that may jeopardize the project before the project starts.
#2 Satisfy stakeholders
Most at times, when the expectations of stakeholders regarding a project are not well managed, it will lead to a situation where the Project Manager is not able to meet the need of the project stakeholders. It is expected that the PM will interview all stakeholders and know what their expectation is for the project. He now has to work on how those deliverables will be delivered. This will create delightful stakeholders at the end of the project.
#3 More Predictability as part of project management adoption strategy
Also, Project Management adoption makes projects to be more predictable. That means if you follow the same process, you are likely to get the same result. This makes projects that are being executed all over the world to be more predictable.
#4 Increase chances of success
Using project management methodology when managing your projects will also increase your chances of success. Like I said earlier, they are a set of best practices and guides that have been used by others across the world. That means m, if you are able to customize some of these suggestions to suit your project, there are greater chances that you are going to succeed.
#5 Right product at the right time
Another benefit of project management adoption is that it will help the organization to produce the right product at the right time. With it, the organization or Project Manager can look at what he needs to produce the right products that stakeholders need. This will ensure that the output or deliverables of projects are acceptable to stakeholders.
#6 Resolving problems and issues
Other benefits of project management adoption are that it helps to resolve problems and issues. You will be able to identify some of the challenges that you are likely to face in the course of executing your project. This will also allow the project manager to carry all stakeholders along so that solutions can be found to problems that can bring the project on its knees.
#7 Quick response to risks
Having a good project management strategy in place will also allow the organization to respond to risks in a quick manner. They would have been able to identify risks at the early stage of the project. This will also allow the organization to put in place risk mitigation strategies that will help the project to succeed without much stress.
#8 Full resource optimization
One other benefit of project management adoption is that it will lead to the full and effective utilization of the project resources. When we talk about project resources in project management, it does not have to do with human resources alone. Effective project management ensures that resources that are meant for the project are well managed in a way that will bring the maximum result to the project at the end of the day.
#9 Optimizing the use of organizational structure
One other benefit of project management technology adoption is that it can help in maximizing the use of organizational structure in achieving project objectives. As the Project Manager, you need to know the type of organizational structure you are working in. This will help you in getting the best out of your project. It will also help you to collaborate with other stakeholders in achieving project objectives.
#10 Manage constraints
Having a good project management practice in place can also assist the Project Manager in managing constraints that may arise while executing the project. Some of these constraints include quality, scope, cost, time, resources among others. You need to know how to complement all these constraints so that it does not impact on the quality of the project. This will assist the organization in achieving the desired and stated project objectives.
#11 Balancing the effect of constraints
Project Management practices also help in managing the effect of constraints in any organization. When good project management practice is been adopted in any organization. It will assist the organization in managing some of the lapses that may exist due to an increase in scope, cost or duration of the project. This will help the Project Manager to work with stakeholders so that things do not get out of control.
#12 Managing changes
One of the things that made me fall in love with Project Management is the steps PMI recommends for managing changes. Do you know that it will be difficult for the CEO to implement changes after a project has been approved? He has to go through the Change Control Board. How awesome. This will help the Project Manager to avoid distractions as much as possible. He will focus on how he can deliver on the expectations of stakeholders for the project.
7 Implications of Poorly Managed Projects
In my previous article, I have looked at some of the benefits of adopting best practices when managing any project in any organization.
The way these projects are managed will go a long way in showing whether such a project will succeed or not. In this article, I want to look at some of the reasons for poorly managed projects in any organization.
I also want to look at how these can jeopardize the effort of the organization.
#1 Missed deadlines as part of the effects of poorly managed projects.
Firstly, a poorly managed project will always lead to missing deadlines. When times are not set to dictate when each activity on a project will be carried out. It will lead to a situation where every team members feel they can carry out project tasks at any time.
This will lead to a situation where the organization will spend more on a project. At the end of the day, the project might become an abandoned project.
#2 Cost overruns
Another visible evidence of poorly managed projects is that it will lead to cost overrun. Since there is no basic cost baseline guiding the project, the Project Manager will end up spending more than what is budgeted for each task.
This will lead to a situation where project objectives are not achieved at the end of the day.
#3 Poor Quality as part of the effects of poorly managed projects.
One other factor that can result from poorly managed projects is that it will result in poorly delivered projects. If the Project managers fail to manage all the constraints of the project, he might end up not achieving his project goals.
A good Project Manager must know how to manage all the constraints in order to be sure that stakeholders are satisfied at the end of the day.
#4 Rework as part of the effects of poorly managed projects.
One thing that is also common about poorly managed project task it that it might lead to rework. When the activities of team members are not well monitored, it might lead to a situation where deliverables do not meet the required standards or quality is been compromised.
You should note that in Project Management, the output of one phase is input into the next phase of the project. This might make the Project Manager repeat the same task over and over again due to errors.
#5 Uncontrolled expansion of work as part of the effects of poorly managed projects.
Another problem with unmanaged projects is that it will lead to an uncontrolled expansion of works. If there are no basic guidelines guiding a project, it will lead to scope.
This is a situation where more features are added to the scope of a project without a corresponding increase in the cost of that project. There is always a Change Control Board in a standardized project to accept or reject changes to project scopes.
#6 Unsatisfied stakeholders
You should also know that having an unsatisfied will also lead to an increase in the number of unsatisfied customers and stakeholders. If you do not plan your project, it will be very difficult to meet the need of project stakeholders. When you are not able to meet the need of stakeholders, they will not be satisfied with the outcome of your project.
#7 Failures as part of the effects of poorly managed projects.
There are bound to be failures for any organization that fails to manage projects in a professional manner. If an organization do not have a way of gathering requirements and making sure that changes to projects are well managed so as not to escalate the scope of the project. It will lead to a situation where the funds available will not be enough to deliver such a project successfully.
The Right Standard for Project Management
Good Projects follow the right project management standards. In this article, I will show some of the standards for Project Management. You will do yourself a lot of good if you can apply this standard in your next project. Let the journey begins.
Before I will begin this discussion, I feel I should tell us what a standard is.
A Standard is a document established by an authority, custom or general consent as a model or example to follow.
In addition, when it comes to standard for Project Management, the American National Standards Institute (ANSI) developed the Standard for Project Management using a process based on the concept of consensus, openness, due process, and balance.
This standard for Project Management is also a foundational reference for PMI project management professional development projects and other related practices of project management.
Also, Knowing that one of the concepts that PMI lay emphasis on is now the concept of tailoring, there is a need for Project Managers to understand that the PMBOK Guide and other documents have descriptive and not prescriptive processes. That means they are meant to guide you to do what is right and not for you to follow the prescription to the letter. The standards only recognize what is know as best practices for Project Managers. It is left for you to decide what is applicable for your own project.
5 Reasons for Initiating Projects
In my previous articles, I have talked about some of the things that you need to know about the uniqueness of projects.
I told you even though the deliverables might look the same, they are still unique because they have different budgets and stakeholders among others. In this article, I want to look at five major reasons for initiating projects. Follow me as we look at this together in this article.
#1 Legal and social requirements as part of the reasons for initiating projects
Firstly, Projects are initiated to satisfy social and legal requirements. The law might require the organization to put some infrastructure or components in place before they can commence operation. It might also be initiated in order to satisfy some social requirements as well.
#2 Satisfying stakeholder requirements as part of the reasons for initiating projects
A Project might also be initiated in order to satisfy stakeholders’ requirements for the project. As the Project manager managing a project, you are expected to use your group creativity techniques in order to gather the requirements of the various project stakeholders. This will help you to know what is and what is not part of the project.
#3 Changing business strategies
Furthermore, You can initiate projects to change business or technological strategies been adopted in an organization. If for example, your organization wants to introduce a new method of production or introduce a new business model which was different from what existed before. It may warrant a new project.
The PMBOK Guide provides more details about key concepts, emerging trends, considerations for tailoring the project, management processes among others, as well as information on how tools and techniques are applied to projects.
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