Importance of project management

IMPORTANCE OF PROJECT MANAGEMENT.

The main purpose for initiating project management is to:

  1. Focus the responsibility and authority for the attainment of the goals on anindividual or a group.
  2. Coordinate and integrate all activities that are responsive to the client and the environment.
  3. Identify and correct project problems at an early date to ensure competentcompletion.
  4. Make timely decisions about trade-offs between conflicting project goals.
  5. Products that are unique with a powerful competitive advantage over thecompetitors are availed.
  6. Inputs from diverse area of specialized knowledge help in developing newproducts, processes and services.
  7. Rapid expansion of technological possibilities is responded to satisfactorily.
  8. Non-routine activities into project management ensure that accountability is established, projects are properly planned and integrated with other related activities.
  9. Ensure that managers of the separate tasks that comprise the project do not optimize the performance of their individual tasks at the expense of the total project



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