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Knowledge: The more projects a business undertakes, the more knowledge it will acquire over time. This will serve as an asset to any business and project management helps to capture and retain knowledge.Creates an opportunity for learning: Sometimes, projects work out perfectly and other times, project fail miserably. Either way, much can be learned from previous experience and past mistakes can be avoided in the future. Project management ensures that these lessons are learned and applied in the future.

Rank Candidate Projects: When requested, all Candidate Projects that are in the repository should be objectively ranked in order of significance. The ranking criteria should include Target due dates, Impact on the total business, Impact on the technology architecture, Impact on other applications, Project size, cost and duration and Project risk.

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It will be helpful to rank projects against each of these criteria separately and then compile a single ranking that weights each of these criteria against each other. This ranking process is typically used to feed quarterly budget decisions but may be requested at any time.

Resources are maximised: Both human and financial resources tend to be expensive. Project tracking and project risk management ensure that all resources are used efficiently and are accounted for economically.Helps to manage integration: Projects that are completed within an organisation are generally integrated with wider business processes and systems. Integration forms the value aspect of projects and their management.

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