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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.

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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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.

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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