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Project Management Overview

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.

Clearly defines the plan of the project before it begins: The importance of planning in project management cannot be ignored. The more complex project, the more scope there is for chaos. One of project management's primary functions is to tame the chaos by mapping out a clear plan of the project from beginning to end.

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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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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.

By using project management methods, organisations can gain control over the running of projects and make sure that they are keeping on track and within budget. Project deliverables need to be managed effectively so that no one loses track over what is happening. One failed project may not seem like a lot to a company, however when we are talking about large organisations with multiple, complex and on-going projects, project management is vital.

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.

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