Project management is all about leading a task and deploying the necessary resources (tools, techniques, and people) to manage it and ensure timely delivery. Needless to say, this is one of the most important skills that you must have if you want to maintain or increase the levels of productivity and, therefore, the quality of work. Several benefits of project management will be covered later in this blog post.
But, easier said than done, right? If you have ever been in project management or seen someone do it, you know how hard it can get. So in this post, we are going to discuss some techniques that are used in project management. Plus, we are also going to look at some of the benefits of project management that you’ll enjoy if you effectively manage your project. That being said, let’s move towards discussing the project management techniques first, and then we’ll take a look at its advantages.
5 Types Of Project Management Techniques
Waterfall Management:
The waterfall is being used to represent a chronological order here. In waterfall management, executives work on the project in chronological order, cleaning up the backlogs before moving on to the completion of other tasks. The waterfall development technique was also used to develop applications before Agile and now finally DevOps. However, the waterfall development method was not an effective one because it limited the amount of communication between the development and operations teams.
Traditional Project Management:
As the name suggests, traditional project management involves traditional tactics used for decades to manage projects. For example, supervising your team and assessing their efforts to ensure that the work gets done on time. In addition to that, you will be responsible for assisting and guiding the team whenever it is required. Then, you will be delivering progress reports to the upper tiers of management. The traditional approach works best in small-sized organizations. However, this may not always be true.
Scrum
Freelancer programmers might relate to this technique more because they have a method called RAD or Rapid Application Development. This technique helps them develop an application for up to 30 days at max. Similarly, Scrum is a project management technique that is focused on speeding up the progress breaks down the project, and identifies high-priority tasks. Then executives work on these high-priority tasks separately. It’s like working on a high-priority task per session. That way, the overall progress rate of the project increases, and timely delivery is ensured
Agile
Think about breaking your project into small pieces. Every piece is now an individual task. Now every executive will individually work on that task and will manage it appropriately. However, it is important to remember that Agile Project Management requires speed and high amounts of effort.
Read: Agile vs Traditional Project Management
PERT
PERT stands for Program Evaluation and Review Technique. Think of it as a statistical tool that is utilized in project management to analyze the time it will take to complete the crucial tasks in the project. Now, PERT considers more than just the time that will be consumed by crucial tasks. But, it also focuses on the relationships between project tasks.
It also highlights:
- Optimistic Time
- Pessimistic Time
- Most-Likely Time
7 Advantages Of Project Management To Organizations
The project management advantages to organizations are discussed below in detail.
1. Higher Productivity With Less Workload
The first advantage of project management is that it provides higher productivity with less workload. Project management breaks down tasks according to their priority, the time they will take, and their overall cruciality. One of the project management benefits of this comprehensive breakdown is that it helps executives work on the right tasks at the right time.
If the crucial tasks get completed first, then a timely delivery is ensured. In addition to that, effective project management benefits the project managers to divide tasks on the team and help them enjoy a decreased overall workload. It helps them to deliver the work on time without compromising the quality of the project as well.
2. Project Management encourages Collaboration
Project Management advantages also include helping the team enjoy improved collaboration. There are many real-life examples, but the losses that we can give to you are of DevOps. DevOps is a technique utilized in application development to ensure the quality and timely delivery of the project. Before DevOps, Waterfall and Agile methods of app development were being used. However, the biggest problem that both shared was the lack of communication between two teams that were responsible for app development: the Development and the Operations teams.
Their lack of communication not only delayed the progress but also resulted in substandard development quality. So what the DevOps method did was bring together the Development and the Operations team. That helped them experience better communication and therefore a higher level of quality and progress. Similarly, project management encourages collaboration and thereby ensures an efficient workflow and improved progress.
3. Better Problem Resolution
Better problem resolution is one of the most countable benefits of good project management. Just like every individual has a story of their own. Similarly, every project has a set of problems and challenges of its own. And just like it’s impossible to understand a human being in the first interaction, similarly, it is virtually impossible to understand the ins and outs of the project.
Hence, project management breaks down the problems and challenges in the form of tasks. Then, tasks are identified as crucial and non-crucial. Afterward, each task is given a fixed deadline, or it can also be broken down into an Optimistic Deadline, a Pessimistic Deadline, and an Ideal Deadline. Then, each task is assigned to an executive. They are responsible for completing the tasks within the given time. And since a project is broken down into pieces, the chances of quality increase with the increase in overall productivity.
4. Efficient Project Management Saves Time & Cost
Saving your time and cost is also one of the most effective benefits of project management. That’s because efficient project management distributes tasks and smartly makes use of resources. This practice helps speed up the process and saves time that will otherwise be consumed rapidly. When that happens, project managers might have to outsource some tasks in the project which will only create further problems. It might result in wasting more time and of course, it is going to make some money as well.
5. Keep Track Of Progress & Imitate Success
Project management helps businesses maintain a record of their past projects. That helps them imitate success whenever projects of similar size and difficulty come in their direction. That’s why keeping a record of past projects plays an important role in project management.
6. Data Analytics & Reporting
Data analytics & Reporting are a considerable benefit of project management. Project management software is used to generate project data and analytics. This data analysis and reporting helps in project evaluation and decision-making. This software gathers and stores a vast amount of project-related data. This data contains task progress, resource allocation, timeliness, and more.
7. Risk Mitigation
Every project has risks, so effective risk management is necessary for success. Project management software can efficiently identify and manage risks. It helps project managers and teams understand and evaluate potential risks. This proactive approach helps develop strategies for risk mitigation. This software includes a risk assessment feature that allows for evaluating the likelihood and impact of each risk.
Risk assessment tools make it easier to prioritize mitigation efforts by categorizing risks. So, high-impact, high-probability risks can be addressed immediately and low-impact risks may be monitored without comprehensive interference.
5 Advantages Of Project Management To Freelancers
The advantages of project management to freelancers are as follows:
- Time Management / Ensure Timely Delivery
- Quality = Client Satisfaction
- Maintaining Work/Life Balance
- Reduced Workload = Lower Levels Of Stress
- Ability To Maintain Transparency With Clients
FAQs
What are the benefits of project management?
The benefits of project management include helping the team to organize, track, and execute work within the project. These project management benefits can be both quantitative and qualitative. Project management is just like a collection of tasks to accomplish a specific goal. The advantages of project management also include allowing your team to plan, manage, and execute the work to meet your project requirements on time.
What are the three reasons project management is important?
The benefits of project management software are as follows:
- Saves time and money
- Improves internal communications
- Empower you to make data-driven business decisions.
What are the benefits of project management software?
The benefits of project management software are as follows:
- Improved planning and scheduling
- Better collaboration
- Remote working
- Effective task delegation
- Easier file access and sharing
- Easier integration of new members
- Effective budget management and risk mitigation
What are the benefits of project management to individuals?
The benefits of project management to individuals include effective team planning, managing, and executing the work to meet projects’ requirements on time. The project management tools help individuals to organize the details of their work in one place, share feedback and progress, and ultimately collaborate more effectively.
What are the project management features and benefits?
The project management features and benefits are as follows:
- Creating a task list with an easy-to-use task checklist
- Setting reminders for yourself and others on project tasks
- Comment and give feedback on any part of the project
- View or add details to each task
- Tag tasks with meta-tags or keywords for easy tracking.
Benefits of Project Management
- Communication
- Collaboration
- Budget
- Customer satisfaction
- Reduced risk
- Increases quality of product
- Improved efficiency
- Competitive advantage
- Risk management
What are the advantages of project work?
The advantages of project work include enhanced problem-solving ability, flexibility, improved communication skills, and working in a collaborative environment.
What are the different types of project management?
The four main types of project management are Waterfall, Agile, Strategic, and Scrum.
What is the main purpose of project management?
Project management provides structure and control of the project environment so that the agreed activities will produce the right products or services to meet the customers’ expectations.
What are 3 reasons why project management is important?
Project management is a necessary process in many fields that helps organizations achieve their goals and objectives efficiently and effectively. The benefits of effective project management include improved communication, enhanced consumer satisfaction, better risk management, and increased productivity.
How does project management improve an organization’s success?
Project management reduces project costs by improving efficiency, mitigating risks, and optimizing resources.
Why is project management valuable to a business?
Project management is important because it helps every part of the business run more efficiently and effectively. When done correctly, it enables to plan and manage projects so that every objective and deliverable is completed on time and within budget.
