Project management can produce a series of benefits for organizations which in turn become measurable results that positively influence a business. Before we explain this, let’s define project management so we can all be in the same mind-set. According to the Project Management Institute (www.pmi.org), the world’s leading not-for-profit professional membership association for the project management profession, you can’t define project management before defining what a project is so here it goes… A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources. A project is unique in that it’s not a routine operation, but a specific set of operations designed to accomplish a singular goal. It must be expertly manage to deliver the on-time, on-budget results, learning and integration that organizations need. Having said this we can now say that Project Management is the application of knowledge, skills, tools and techniques to project activities in order to meet the project requirements. The Project Management Body of Knowledge (PMBOK® Guide) identifies its recurring elements: Processes and Knowledge.
Project Management processes which fall into five groups: Initiating, Planning, Executing, Monitoring and Controlling, and closing.
Project Management Knowledge draws on ten areas: Integration, Scope, Time, Cost, Quality, Procurement, Human Resources, Communications, Risk Management, and Stakeholder Management.
All management is concerned with these, of course. But project management brings a unique focus shaped by goals, resources and schedule of each project.
To summarize what it all means, project management is the application of knowledge, skills, tools and techniques to make sure your project is successful. To what extent is a project successful? Well, it depends on your goals but I guess we can all agree that if your goals are met, on-time, and on-budget that your project was successful. Sounds easy to do, right? Well, then why do a high percentage of projects fail? According to PMI’s 8th Global Project Management Survey, projects that are aligned with the organization’s strategic objectives have greater potential for success (52%) versus those that are not aligned to the organization’s strategic objectives (29%), that is 48% and 71% of projects fail depending if they were aligned or misaligned from the organization’s strategic objectives. Another important factor is the application of the best project management practices. The same Global Project Management Survey shows that in high performing organizations 89% of projects meet their original goals and business intent and only 34% in low performing organizations. Imagine your chances of a project being successful if it’s misaligned and you don’t follow any project management standard.
Hopefully, by now you understand of the importance and benefits of proper project management in the success and attainment of your organizations strategic objectives and in consequence, it’s business results. Where do you get started in project management? Simple, start learning about it. www.pmi.org is a good place to start. Fortunately, CETYS Universidad is not only an expert in the field, it is also one of only three Mexican universities that are Registered Education Providers for the Project Management Institute, and the only one in the North West. PMI R.E.P.s are organizations that the Project Management Institute has approved to offer training in project management and issue professional development units (PDUs) to meet the continuing education requirements needed by PMI credential holders. To earn the R.E.P. designation, a provider must meet or exceed rigorous standards for quality and effectiveness as defined by PMI.
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Dean of Extension and Continuing Education
CETYS Universidad, Campus Mexicali