Why is project management important?


Quick Answer

Project management is important because it helps companies get the most organization and production for their money. They are in charge of managing personnel to get a job done in a timely manner as inexpensively as possible.

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Full Answer

Project management is the application of skills and knowledge that allows a company to be competitive in its market. It is broken into five different categories: initiation, planning, execution, controlling and closing. Specific software might be used to help manage various projects, with each project having unique requirements.

A project manager is typically paid a lot of money to oversee a project. They run every aspect of a project, from scheduling to new innovations, to helping a project reach its completion date on time. They know how to run a project by spending the least amount of money possible, saving the company money and allowing the company to pass the savings on to the customer.

Project managers develop a strategy that allows them to organize and lead employees, meet deadlines and see a project through to its conclusion. They are expected to deal with any problems that arise during the course of a project, leaving the executives to deal with other aspects of the business.

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