Project management is simply put, the process and activity of planning, organizing, motivating and controlling procedures, protocols and resources to achieve a specific goal. Without project management, it would be extremely difficult for goals to be met.
Importance of Project Management
Without a specified plan of action or a go-to person for a project things would simply be too chaotic for anything to get accomplished. The initiating, planning, executing, monitoring and closing out of a project requires knowledge and some expertise of what you are doing and what is expected. A skilled project manager gets things done. Project management is not based on hope – hopefully someone will do what is supposed to be done. Instead it is based on skill and the ability to work with a team to get the project completed. Without project management, projects would flounder and fall by the wayside. It is the framework to help accomplish goals that have been set.
Advantages and Disadvantages of Project Management
There are any advantages and disadvantages of project management. Here is a list of the advantages and disadvantages associated with project management.
Advantages of Project Management
The major advantages of project management are as follows.
- The project manager actually manages the project and leads their team throughout the entire project.
- The client is able to provide feedback throughout the project.
- The team members are the nucleus of the project and work as a cohesive team to complete all aspects from start to finish.
- Services are delivered more efficiently. Project management is the blueprints that are easily followed and leads to the project being completed.
- Customer satisfaction is increased. By being able to complete a project on time and on budget, the client is happy and you will likely have that client come back for future projects.
- Services are delivered effectively and efficiently. Many times services that have proven effective can be used again on other projects saving time and aggravation.
- The project team members will have improved growth and development. As projects are concluded successfully, team members will feel a sense of accomplishment and will grow together into a more efficient team.
- You will have a competitive edge within the industry with a productive project management team.
- More opportunities will arise to expand your services. As the project management team becomes a well-oiled unit, more opportunities will open up within the industry.
- Risk assessment is increased. When the team works together and delivers quality work, risks will become more apparent. Project management provides a red flag when something is not right and allows you to correct it prior to completion.
- Quality and quantity increase with effectiveness and efficiency. You will be able to narrow your focus and reach specific goals within a specific timeframe and that will lead to a better run entity all the way around.
Disadvantages of Project Management
There are also some disadvantages of project management that are listed below.
- Cost overhead can be more than many companies can afford. The hiring of project managers and training a project management team can be difficult for small companies and companies that are facing financial difficulties. Project managers are rarely paid below $70,000 per year.
- Communication overhead can be too much for a company to handle. With a project management team, a new layer of communication has been added into the fray. All information is generally funneled through the project manager instead of information flowing directly between functional managers and the team members.
- Time overhead also is considered since there is no longer direct contact between managers and team members. While all tasks are mapped out in project management, a project manager can never accurately calculate the time needed for each task. Delays are inevitable and then the project manager is pushing the team to make up the time lost.
- Obsession is becoming a problem among project managers and makes for a stressful environment for all involved. Project managers can actually hinder a project by becoming to rigid or precise in their project plans. The team members no longer have a certain amount of flexibility.
- Non-creativity can fall into two categories for project management: technical and managerial. Technical non-creativity is when the project manager sets strict deadlines on resources and forces the team members to work within strict parameters. This hinders the creativity of the team members. Managerial non-creativity is when the manager becomes lead by the processes of management instead of being flexible. This causes their managerial skills to weaken and they become stagnant in their position.
A company can be successful without a set project management team in place. However, that success is limited and takes a much longer time to achieve than a company that actively employs a project management team. The advantages far outweigh the disadvantages in terms of having a project manager and team on staff to set and reach goals.