No matter what role or industry you’re in, you’ve probably noticed it too. According to the consultancy Bath & Company , by 2027 most work will be project-based and as a result, the Project Management Institute reports that the demand for project managers has been growing faster than the demand for skilled workers in other occupations.
This emphasis on the importance of project managers reflects the growing understanding of the impact good project management can have on a business. That’s because good project management is about more than just tasks, schedules, and budgets.
A good project manager is the glue that holds a project together and ensures that quality and objectives are met on time and within budget. According to the Project Management Institute (PMI), organizations that undervalue project management report that an average of 50% more of their projects fail completely. Fifty percent.
Failed projects can quickly derail your initiatives and slow or even prevent business growth.
Project management means dividing the project into tasks and assigning those tasks to team members. The completion of these small tasks leads to the step-by-step completion of the final goal. that is, the project. Without proper project management, you will face the problem of the project being completed on time. It would be hard to build accountability in the team and it would be even harder to keep the team on the same page.
Project management is important as it generates a proper project plan to achieve strategic objectives. If you leave the job of project management to your team, you will see that there would be no accountability, the team would be working without proper reporting, there would be a lack of focus, it could be possible that there are no clear goals due to not having a proper description of the project. , and the project can get stuck when some risk or problem arises.
