Have you found that certain elements of your projects seem to miss their deadlines, go over budget or fall through the cracks all together? It may be time for you to bring in an outside source to help with your project management services. This will free up resources internally and create a singular point person to oversee each deliverable in the project. At EVOLVE to Lead, our project management services help teams stay on track as they navigate a project timeline and budget. We work to produce effective collaboration by ensuring that all stakeholders, regardless of where they sit in the decision-making process, are heard equally. Learn more about the benefits of project management below.
5 Benefits of Project Management
Good project management can help you get the job done, whether you are trying to satisfy the requests of senior leadership at your organization, are struggling to find a way to get your team on the same page, or need help managing risk, budget, and quality control. Continue reading below to find out five benefits of project management!
1. Enhanced Customer Satisfaction
Whenever a project manager is able to complete a project within budget, time, and scope, you can guarantee satisfaction and relief from your client. And the best part about a happy client? Exponential potential for repeat business. Project management skills are extremely valuable when used to meet or exceed expectations and allow organizations to better serve their customers. Plus, the value of project managers can be measured against the goals and objectives that were set at the start of the project, so clients can have a tangible idea of just how successful the project management was.
2. Improved Team Collaboration
To overcome messy procedures and avoid any tasks from slipping through the cracks, project managers step in and provide a North Star for all team members to align themselves to. Instilling a sense of direction and focus through task ownership, detailed deliverables, and set due dates before kicking off a project, will allow you to reduce wasteful resources and create a more efficient process. When a team doesn’t know what the clear goals of a project are, you begin to see a lack of motivation, incomplete projects starting to pile up, and your staff ultimately working towards the wrong objectives. Defining your project goals upfront allows the entire team to optimize their workflow towards that same North Star.
3. Improved Risk Management
One of the essential roles of project management is being able to effectively execute proactive and reactive risk management. An element of the project planning should be dedicated to creating a streamlined process around the identification, management, and mitigation of risk in order to prevent potential issues from derailing the project. No project ever runs entirely according to plan, and project managers are effective at knowing the right questions to ask to reveal risks early on and deal with them appropriately. One of the many benefits of good project management is the ability to efficiently adapt a project plan while reducing the consequences of identified risks. With less risk, the team is more confident and equipped to achieve project goals on time!
4. Budget Management
One of the biggest reasons that projects suffer when they don’t have a project manager leading the way is that they go far over-budget. Between runaway costs and team members that don’t have the bandwidth to effectively manage project expenses, it makes sense that staying within budget could be a difficult feat to accomplish. The benefit of good project management is the ability to identify costs early in the project planning process in order to develop a realistic budget from the start. Through coordination of task ownership, clearly identifying goals and deliverables, and accountability during the entire process, project managers aid in establishing efficient time management, reducing the risk of going over your budget, yet again!
5. Quality Control
Utilizing project management protects the high quality of the deliverables no matter what roadblocks were faced throughout the process. Without a project manager and the support of leadership, processes are often rushed as tasks are underestimated and the schedule is continuously truncated. This can result in a project that exceeds both budget and timeline, with all stakeholders left disappointed. Successful project management ensures that the team can test the output for quality at every stage of the project. By making certain that there is enough time and resources to meet the goals and objectives, the project manager guarantees quality control of the project.
Invest in Project Management with EVOLVE to Lead Today!
Good project management is not only about creating guard rails around the budget, timeline, and scope of work. It creates a vision for a team to unite around as they do their best work to deliver high-quality output. EVOLVE to Lead has successfully implemented over 200 client projects through the IPECC method of initiating, planning, executing, controlling, and closing. Invest in project management with EVOLVE to Lead today to get your projects back on track!