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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.

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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Assign Resources: Even though a project has been selected, it does not become an "active" project until resources are approved and deployed against it. It is critical to remember that when resources are assigned from the Skills Inventory, this deployment has a proportionate impact on the resource's availability. The organization must be very careful to not over-commit limited resources in an attempt to "look" more productive.

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Establishes an agreed schedule and plan: Schedules help to eliminate delays or overruns and provide a plan to be followed for all those involved with the project. Creates a base for teamwork: People are required to work in a team on a project. This is due to team synergy benefits through the sharing and support of knowledge and skills. Bringing people together in this way inspires team members to collaborate on a successful project.

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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.

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.

There are numerous advantages to project management software. Project management has come a long way from a pencil, sheet of paper and a methodology to what is available today in our technologically advancing world.

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