What are the benefits of project management? Before we can answer this question, we need to ask “benefits to whom?” So, let’s think about the various stakeholders. We have the organisation, we have project managers and project team members, we have other employees and staff, we have contractors, suppliers and consultants, we have vendors, and of course, we have our clients, customers and consumers.
So when we identify the benefits of project management, we need to think about the benefits to these stakeholders.
Our online course on Project Management has a module that identifies the Top Ten Benefits of Project Management. In the discussion forum that follows, course participants select and share their top three benefits of project management based on their experience in life and the workplace.
The top 3 benefits of project management
These three benefits consistently emerge in the top group:
1. Increased customer satisfaction ranks as the top benefit of good project management, and 61% of respondents place it in their top three.
2. Improved risk management follows, selected by 48%.
3. Increased reputational integrity and competitive advantage ranks third and is selected by 39% of respondents.
1. Improved customer satisfaction
It is not surprising that customer satisfaction ranks as the highest benefit. Whenever a project is completed within scope, time and budget, the customer is happy. And a happy customer is a repeat customer. Intelligent project management provides the tools for this relationship with your customer to thrive and helps to meet or exceed their needs and expectations. Ultimately, project management skills support organisations to serve customers in a better way than they were before.
2. Improved Risk Management
Nobody likes it when things go wrong. Sound project management includes the tools to assess and manage risk to achieve the best outcomes. Effective risk management identifies potential risks and provides the opportunity to manage and mitigate those risks. This leads to teams that are more confident, more competent and more skilled to achieve project goals – for themselves, the organisation and the customer.
3. Reputational integrity and competitive advantage.
Reputational integrity is about how people perceive your organisation and its values. It’s partly based on doing what you say you will, when you say you will, and this is linked directly to effective project management. Competitive advantage is the advantage gained by your organisation because it offers your customers and clients greater value, or unique value, compared to other organisations. Good project management practitioners take these aspects seriously. And the competitive advantage provided by sound project management allows organisations and their stakeholders to prosper.
When you identify the benefits of project management it validates the effort you put into learning project management skills.
Everyone manages projects. But a lack of project management skills can hold careers back. So it makes sense to develop the skills to make you a good project manager or team member. Our online courses will help you achieve this outcome. If you’re a busy professional who needs to meet continuing professional development requirements and boost your career opportunities, then have a look at our online courses on Project Management and Risk Management. They provide a flexible and cost-effective way to learn essential skills by providing anywhere, anytime access and a supportive online community. Course facilitators are available to help and verified Completion Certificates are issued after successful course completion.