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A project is a set of interrelated activities, usually involving a group of people working together toward a common goal or objective over a period of time. If you're managing a project and you want to ensure its success, you need to transform what may begin as a vague concept into a measurable and accountable process that meets your company's requirements.
Project management, then, is the planning, scheduling, and orchestrating of project activities to achieve objectives within a specified period of time. Not surprisingly, project management requires strong organizational, budgeting, staffing, controlling, and communication skills.
By managing projects effectively, you generate immense benefits for your company. Here are just a few examples:
- You ensure that things get done on time and on budget. These achievements add predictability to your organization's work.
- You minimize costs. By finding ways to deliver on objectives within reasonable planning horizons, good project managers reduce costs.
- You utilize resources effectively. Sound project management makes more efficient use of money and valuable employees' time.
- You add value to the business. Projects are a key means by which organizations reach their strategic goals