Why is it important that we have project management?

We all know that Project management reduces project costs by improving efficiency, mitigating risks, and
optimizing resources.

What if all projects were handled with No plans, no organization, none of that. We just tell the team on
what needs to be done and they jump straight in. Like for example, aamin ka sa crush mo. You need a
plan, you need process on how will you implement the plans. You need everything under control.

Tonight, we are going to present the first 5 importance of project management. To be discussed by John
Lee, Lee the floor is yours.

6. Risk management
is critical to project success. The temptation is just to sweep them under the carpet, never talk about
them to the client, and hope for the best. But having a robust process around the identification,
management, and mitigation of risk is what helps prevent risks from becoming issues. Especially in
complex projects, dealing with risk is where the value of project management really comes into play.
Good project management practice requires project managers to carefully analyze all potential risks to
the project, quantify them, develop a mitigation plan against them, and a contingency plan should any
of them materialize. It requires knowing the right questions to ask in order to uncover risks early.

7. Orderly process

Proper planning and process can make a massive difference as the team knows who’s doing what, when,
and how. Proper process helps to clarify roles, streamline processes and inputs, anticipate risks, and
create checks and balances to ensure the project is continually aligned with the overall strategy. Project
management matters here because without an orderly, easily understood process, companies risk
project failure, attrition of trust in their business relationships, and resource wastage.

8. Continuous oversight – documentation of

data is invaluable not only for tracking progress but helps clients gain the trust of other stakeholders in
their organization, giving them easy oversight of a project’s progress. It also gives your team a simple,
consistent way to maintain regular contact to build your client relationships.

9. Subject matter expertise

When we say subject matter expert it is a person who has accumulated great knowledge in a particular
field or topic. The project managers know about something about the projects they manage.

10. managing and learning from success and failures.

Project management can break bad habits and when you’re delivering projects, it’s important to not make the
same mistakes twice. This produces a valuable set of documentation that becomes a record of “dos and don’ts”
going forward, enabling the organization to learn from failures and success. Without this learning, teams will
often keep making the same mistakes, time and time again.
In a nutshell, the project management is crucial. Without project management, teams and clients are
exposed to chaotic management, unclear objectives, a lack of resources, unrealistic planning, high risk,
poor quality project deliverables, projects going over budget and delivered late.

Great project management matters because project managers with great training deliver success.