Project Management
...as “the application of modern management techniques and systems to the execution of a project from start to finish, to achieve predetermined objectives of scope, quality, time and cost, to the equal satisfaction of those involved.” Planning is an integral part of any business and it is the basis of project management. In order to do any sort of project, the company must first plan, discuss an objective, and lay out the important aspects of the project. Many companies struggle with their project management, and therefore have problems with planning.
The two articles I read were found on Lexus Nexus, and both focus on the need to strengthen project management aspects in different companies. The articles are in agreement that “companies should enhance project management capabilities to achieve business objectives and maximize investments.” They agree that with better project management companies will be more efficient.
The first article was a synopsis of project management’s effect on businesses. It claims that the “lack of project management skills often leads to failure in corporate endeavors.” The article explains a company called Integrated Project Systems or IPS. IPS has project management implementation services that are designed to help their clients in implementing budgets and scheduling tasks. Because companies often waste time and money when using poor project management, IPS is working to incorporate project management into their clients establishments. When there is a lack of project management companies spend 50% more than budget and go beyond schedule by 70%. Another issue with these companies is that they start projects that don’t need to be done, or they fail to work on projects that are important to the future of the business and their relationship with their clients.
Another firm mentioned in the article was...
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