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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.

Project management is comprised of a number of essential and basic functions that add to its importance and which are enhanced by technology and project management software such as Sinnaps:

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Managing a project more often than not requires a team of people with skills and abilities that complement each other and help to work towards reaching the goal of the project. The team, along with its project manager are responsible for planning, organising and monitoring project progress. Any project management professional will tell you that every project follows a project life cycle and certain project management steps that bring it from start to finish. Projects are a lot more than simply preparing resources and materials and require a deeper element of management.

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.

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