PROJECT MANAGMENT VALUES

Project Management Values.

Implementing efficient Project Management provides both Qualitative and Quantitative benefits.

They are detailed below.

Provides a systematic and disciplined approach  -  Organization begins to achieve a smooth implementation of projects by adopting a Systematic and Disciplined approach as the Project Management processes are consistently defined and implemented. As the organization moves up in the Project Management Maturity (PMM) Ladder by following Project Management practices, It progressively benefits in Qualitative terms.

Helps retrieve and analyze financial information - Project Management helps realistic effort and cost estimation by breaking down the scope to lowest level activity. Also helps resource allocation to each activity to arrive at a Cost baseline/Budget. This  information could be used by Project Manager  for setting budget  for better utilization of finances.  This information could also be used as history for Estimating  future  projects.

Determines relation ship between project management effectiveness and project team efficiency  -Project Management could also be used for  determining relationship between project management effectiveness and project teams efficiency.   While the end-result is acceptable to the customer, the  team could have delivered before time upon use of effective project management practices.

Helps compare current Maturity Level -  Project Management Implementation helps compare organization compare their current maturity level with other organizations. Organization operating at a low maturity fears loss of customers due to competition. This comparison helps organization realize it needs to  improve project management practices and move up the PMM Ladder.

Higher ROI  - Effective and efficient Project Management  Practices helps organization  to achieve a higher ROI  by effective resource utilization, faster turn around and lower costs. Higher ROI reflects true returns to Share holders.

Higher SPI/CPI – This is another quantitative benefit of project management , Organizations with higher PMM  have better project performance. This could be evaluated through  Performance indices.CPI (Cost performance Index) and schedule performance index.

Consistent Project Performance -  Organizations using good project management practices  are more consistent in schedule and cost results. Organizations at low PMM Level has low costs and low ROI. As the PMM Level increases Cost and ROI both increases. As organization reaches Highest PMM Level  the cost reduces but ROI Remains high showing consistent project performance.