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Value Of Project Management

Review Business Case: The Business Case will be examined by an screening body with the corporate authority to accept or reject a Candidate Project. When a Business Case is accepted, the Candidate Project is captured in a repository for ranking and selection. If additional information is required on a Business Case, note it as “pending” and issue an Information Request to the requester. If a Business Case is rejected, send the information to the requester with an explanation for the rejection. Remain this information in a repository.

Provide the base information for more informed financial commitments to projects. Establish a more objective ranking of candidate projects.Allow a more effective matching of skilled resources to the right project. Avoid over-allocating limited skilled resources. Anticipate future human resource quantities and skills. Provide a valid basis for staff training. Make Project Initiation faster and more efficient.

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Because priorities, finances and resources may change at any time, it is critical that this process be well-defined and easy to follow. It is also important that its value is understood and supported by corporate leaders and the business organization.

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Organisations are constantly facing new challenges and opportunities. The world and marketplace is fast-paced and filled with uncertainties and opportunities for growth. Without the practise of project management, organisations would find themselves drowning in an ocean of failed projects and processes with few options of salvation. All organisations need to take project management seriously in order to survive and thrive.

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Evaluate Resources: An updated Skills Inventory should be maintained for all corporate (Business Unit and Information Technology Department) resources that are available for project assignment.Additionally, an inventory of available contract resources should also be captured. The purpose of this Skills Inventory is to understand the true capabilities and capacities of these resources.

Quality is continuously managed: More so than ever, it is important to produce quality results. Project management helps to identify, manage and control quality. Quality results make clients happy, which is a win-win situation for all involved.

Project management software tools allow companies to become competitive in their environments, optimising time and effort and keeping project on track. They are used for planning, managing time, resources and people, controlling costs and monitoring project progress.

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