BENIFITS OF PROJECT MANAGEMENT

Following are the benefits of project management.

1. Result oriented-Project management is result oriented. It is art of getting work done through other people effectively under constraints of time, budget and quality specification in order to achieve overall organizational objectives.
2. Team building-Project team consists of multi-disciplinary people of varying degrees of experiences and expertise. Project management creates a good work environment for these people through establishing trust and developing respect for each other. This encourages and motivates the team members to be creative.
3. C0-ordination-The project manager serves as the responsibility center. Therefor he is fully responsible and accountable for the end result.There are no hierarchy which makes it easy for co-ordination between the functional manager within the project.
4. Environmental adaptation and customer satisfaction-Projects are operated in continuously changing environment. Project management team can make adjustments and changes to cope up with the changes in the environment in which it is operated. Similarly, project management focuses on customer satisfaction. The activities are carried out according to the specification provide by the customers.Efforts are to satisfy their needs.
5. Change management-Project management dismantles barriers and reduces resistances to changes.It facilitates new technology and technique.It serves as tool to introduce and manage change.
6. Organizational restructuring-project organization has temporary nature. The structure could be pure functional and matrix. In many of the technical project, matrix organizational structure is set up by pooling the functional line manager.The work in project management s historical and vertical in cases where services of line manager are used. This facilitates continuous organizational restructuring but doesn't provide long term commitment of the employees.