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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.

Document Business Case - Evaluate all Candidate Project Information that has been provided by the requesting organization or that has been gathered by a technical analyst. If additional information is needed, issue an Information Request to the requester. Format this information into a Business Case. Assign the Candidate Project a new Project Code.

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Project Identification is a repeatable process for documenting, validating, ranking and approving candidate projects within an organization.Due to the changing financial conditions within the total organization, it is necessary to establish a stable process for approving projects for initiation. This process will validate the business reason for each candidate project.

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.

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