ZIPMG

Why Project Management Matters? Leading organizations across sectors and geographic borders have been steadily embracing project management as a way to control spending and improve project results. When the recession began, this practice became even more important. Executives discovered that adhering to project management methods and strategies reduced risks, cut costs and improved success rates—all vital to surviving the economic crisis. More than half of the executives in the Economist Intelligence Unit report said following a project management practices became more important since the recession began. Compared to 2007, respondents reported: „ Investing more time in project planning and due diligence (40 percent) „ Conducting more frequent project reviews to assess risks, milestones and overall value (37 percent) „ Measuring quantitative and qualitative project outcomes more frequently (38 percent) “Many companies admitted that the economic crisis underscored their project management shortcomings and forced them to do better,” the report says. With little room for error and fewer resources to rely on, project management expertise and oversight is helping organizations streamline their delivery process, cut costs and sidestep risks, enabling them to ride out the recession and implement stronger project management practices for the future.