Project Management

Project Management

Project Management involves:

• Identifying requirements
• Managing stakeholder expectations
• Balancing the project constraints of:
  • Scope
  • Schedule
  • Cost
  • Quality
  • Resources
  • Risks

The Importance of Project Management

Good project management provides the following benefits:

• Meeting business and project objectives
• Increased stakeholder satisfaction
• Higher chance of project success
• Predictable outcomes
• Better change management
• Improved risk management
• Optimized resource utilization
• Effective resolution of issues and problems

Lack of proper project management can lead to:

• Schedule and cost overruns
• Scope creep
• Poor quality
• Unsatisfied stakeholders (e.g. unhappy customers, high attrition, etc.)
• Loss of reputation
• Financial losses (e.g. lost business opportunities)