Why is project management important?īecause projects are often complex and involve numerous stakeholders, having a project manager to lead the initiative and keep everyone on the same page is critical to project success. It involves identifying and managing risks, carefully managing resources, smart budgeting, and clear communication across multiple teams and stakeholders. In other words, the purpose of project management is to plan and manage a project to successfully complete its listed goals and deliverables. PMI defines project management as “ the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.” A basic project management lifecycle covers four stages: To understand why project management is important, we first need to define exactly what project management is. So why is project management important? Let’s break it down. A good project manager takes control of a project from beginning to end, ensuring that the initiatives and goals are strategically aligned, the project has stakeholder support, and everyone is on the same page. Project management is more than simply tracking deadlines and setting a budget. According to the Project Management Institute (PMI), organizations that don’t properly include project management in their strategies have more than a 60% higher rate of overall failure.įailed projects can quickly derail your initiatives and delay or even prevent business growth. After all, project management can be a hefty financial investment, so why not just do it yourself?Ī good project manager is the glue that holds a project together and ensures objectives are met on time, on budget, and to a high quality standard. If you’ve never worked with a project manager before, it can be tempting to forego the expense in favor of managing a project yourself. Solution Center Move faster with templates, integrations, and more.Have you ever wondered “Why is project management important?”.Events Explore upcoming events and webinars.Content Center Get actionable news, articles, reports, and release notes.Partners Find a partner or join our award-winning program.Professional Services Get expert help to deliver end-to-end business solutions.Technical Support Get expert coaching, deep technical support and guidance.Help Center Get answers to common questions or open up a support case.Smartsheet University Access eLearning, Instructor-led training, and certification.Community Find answers, learn best practices, or ask a question.Learning Center Find tutorials, help articles & webinars.What’s up next New data insights and faster, easier ways to find and organize your work. WorkApps Package your entire business program or project into a WorkApp in minutes.Digital asset management Manage and distribute assets, and see how they perform.Resource management Find the best project team and forecast resourcing needs.Intelligent workflows Automate business processes across systems.Governance & administration Configure and manage global controls and settings.Streamlined business apps Build easy-to-navigate business apps in minutes.Integrations Work smarter and more efficiently by sharing information across platforms.Secure request management Streamline requests, process ticketing, and more.Portfolio management at scale Deliver project consistency and visibility at scale.Content management Organize, manage, and review content production.Workflow automation Quickly automate repetitive tasks and processes.Team collaboration Connect everyone on one collaborative platform.Smartsheet platform Learn how the Smartsheet platform for dynamic work offers a robust set of capabilities to empower everyone to manage projects, automate workflows, and rapidly build solutions at scale.
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