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Before we begin explaining the importance of project management, it is important to understand what project management is and what it entails. Project management involves the use of various principles, procedures and policies that are established to guide a project from its conception stage all the way along until its completion.

Due to the triple constraint which project managers face with regards to quality, time and scope, the way in which a PM deals with these constraints on top of all the other aspects of the project that need to be managed means a lot when judging a PM's skill on a project manager resume. Without Project Management there would be chaos in organisations which would induce stress, uncertainty and higher rates of failure, highlighting project management's essential nature to organisations.

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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.

Update Business Case: When additional information is received on a Candidate Project, obtain the pending Business Case from the repository and revise the data. This Business Case should now be reconsidered by process 1.2.

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