Answer to Question #100760 in Management for Roshanthi

Question

The advantages of using project management and why it is important.

Answer 1

Project management as a tool in the business is often used as a key driver in the management of the people and other resources in the firm. As a tool in the business, project management has various benefits which include, increasing chances for the firm to achieve the desired results as well as ensuring that the business project plan is in line with the business strategy. Ideally, it also allows the business to establish a robust budget and schedule for the project from the start. Other benefits that are accrued to project management include, improved communication amongst employees, improve customer satisfaction, heightened competitive advantage of the business as well as mitigate any related risk for the project. To the latter of this, it is ideal that project management is essential for the business in the management of the project as well as effective and efficient problem-solving.