Project 586 Essay

Question:

Why is Project Management important to your company? Don’t know? No problem. Alternately, why is project management important in modern business practices? What does our reading say?

Answer:

Well begun people (in fact brilliantly begun thanks to Sheldon and Eric)!

Please feel free to continue posting on the topic of the importance of project management today.

In today’s business world, the name of the game is competitive advantage. Trouble is — you can’t keep them! If Company-A has a better way of doing things (especially a cheaper way of doing things…) such that it has an advantage in the marketplace. Companies B and C, will figure out what A is up to and COPY IT! The net of this behavior in a global economy, is that the bar is constantly being raised. That means strategic initiatives to change what we are doing, and how we are doing it is the norm! We have a name for those, they are called projects!

Projects are an excellent vehicle for corporations to bring together talented people to deliver a product or service. By definition, projects are initiated to do something that a company does not do on a regular, day to day basis.

Question:

We have been beating up the question of what is and is not a project. I suggested that it is NOT just a semantic game we are playing, the question really matters!

Okay then WHY does it matter? Well the answer is pretty straightforward it's

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Care to try and fill in that list. Why do we care people? What difference does it make if we classify an effort a project or not?

Good work people! I really appreciate your involvement here! A really difficult and challenging question, made more difficult because I don't know if I worded it all that well (*sigh*).

Here is why this stuff is important….

Project management methodologies and best practices are important to reduce risk, minimize costs, and to improve the quality of the project effort (as you people pointed out), but...