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Just how valuable is project management? 80% of business executives around the world attribute their business success during tough economic times to project management. They view it as crucial for achieving successful objectives and staying on top of the competition. Project management has proven its effectiveness many times over. It can minimize risks and reduce costs, while improving a business's success rate. With statistics like these, project management is a must-have for any organization that wants to win.
What happens when you don't employ project management strategies? Without project planning, the organization will essentially be throwing money out the window on inefficient projects that will likely fail. Without someone to oversee a project's schedule, manage budget allocations, and coordinate the efforts of the project team, the whole project could easily become bogged down. The project's priorities could be forgotten, leading to a waste of valuable time and resources as the project runs off-course. Unforeseen risks and obstacles are more likely to ambush the project, because no one is watching out for them. A project without a project manager is unlikely to be successful; even if it does succeed, the quality of the end result will probably suffer.
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