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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.
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.
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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.
Helps to keep control of costs: Depending on the scope of the project, some projects can incur organisations significant costs. It is important therefore to keep on budget and to control spending. Project management greatly reduces the risk of budget overruns.