5 reasons why Project Management is important for IT companies
Clients often pose questions like, “Do we really need a project manager?” or “Is it really that necessary? Can’t we manage the teams by ourselves?”
We see Project-Management as something that unnecessarily increases the expenses and does not deliver anything and also get in the way of the vision of the business. Let us consider that these are all true.
Then, should one skip hiring project managers to save some bucks? The short answer is, NO!
Now that you know the short answer scroll down to know the actual reasons.
WHAT IS A PROJECT?
Before opening the casket to explain the importance of project management, let’s see what a project is. We know that a project is a temporary job for a group that is carefully planned by dividing into several phases to develop a unique product and render various services.
WHAT IS THE FUSS ABOUT?
Suppose you are an automobile designer and you come up with a brand new idea of car design. You get a team and collaboratively come up with a plan. Then you design and create a prototype of the car. The developing of the prototype of the car was a “temporary job.”
Collaboratively working with a team with divided responsibilities was the “dividing into several phases” part. Tadaaa! You have a successful product ready for mass production. If you just had the idea of designing a car with no planning, would you be able to execute the whole process swiftly easily?
That’s where Project-Management comes in. Project Managers supervises the execution process, set objective for all employees, and drives the company towards excellence. They calculate possible mishaps and take steps to avoid the consequences.
The whole IT industry is dependent on the projects they get. From planning and creating the framework of the project algorithm to managing the project according to the client’s vision, it is a detailed job. Without proper management, the whole project will come crashing down.
Without further ado, let’s roll through the Top 5 reasons why project managers are necessary for IT companies.
Reason 1: Defined career objective and focus
| When a team understands the objectives of the projects laid down by the project manager, half of the battle is already won |
As you have guessed by now, projects are exhaustingly chaotic. Without clearly set goals and objectives for each team member, the project will become more chaotic and confusing.
In 2017, the main reason for project failure was unclear focus and objectives. When the job of managing the project is taken up by the team itself, it can easily lead to missed deadlines, hefty expenses, uncountable misunderstandings, and hindered productivity.
Without project managers, the team might not take potential mishaps into factor and might end up prioritizing the wrong job. Check out the Top 10 Best Project Management Tools available online and get the most out of your team.
When a team understands the objectives of the projects laid down by the project manager, half of the battle is already won. The project will run swiftly towards progress with each of its parts working in unison.
Reason 2: Aligning projects with business strategy
| Project Managers are the pilot of your business strategy. If you compromise on it, you’ll lose an opportunity to grow |
Why do clients come to IT companies?
Yes, you are correct. They have a business vision and certain strategic goals, and IT companies are the ones responsible for advancing those goals. If the company lacks management skills, then it will have a weak strategy. In fact, the best digital marketing company these days incorporates project management tools from the very beginning.
In simple words, project management is the pilot of your business strategy. If you compromise on management to save expenses, you are practically shooing away an amazing opportunity to grow. Strategic positioning helps a business to allocate its resources perfectly. If a project does not match the long-term goals and vision of the business, then it is most likely to be rejected.
Reason 3: Cost-effective process
| Out of every $1 Billion invested, $99 Million is wasted or misused due to unsatisfactory management |
What is expected from the IT industry? To deliver new products and services. Most businesses are investing in developing new products. Is if these projects are not monitored properly, then the resources are destined to get wasted. In a study conducted in 2018, out of every $1 Billion invested, $99 Million was wasted or misused due to unsatisfactory management.
Hiring a project manager is a smart move as the manager makes sure that the cost of the project is within the specified budget, and absolutely no resources are wasted. They do so by measuring risks, deploying counter-measures, and improving efficiency.
Reason 4: Maximum resource optimization
| Resource allocation is directly linked to the success rate of the project|
It doesn’t matter whether you are working on a simple project or a Space project; resource allocation is directly linked to the success rate of the project. Poor utilization resources can turn any project into scrap. Having the right management software tools at your disposal can help you to optimize the available resources to your full advantage.
These software tools are much older than we know. Earlier those were only used by government and military institutions. After noticing the benefits of online project-management apps, private organizations started putting the apps in use to maximize productivity.
Reason 5: Learning from experience
| Project Managers make sure that the same mistakes are not committed twice |
It is normal if a project fails. Moreover, it is quite regular as any tiny factor can wreak havoc to a project. If and when it does fail, it is important to learn from the failure and the reason behind it. That way, one can deploy the counter-measures while taking up the next project.
Project Managers monitor the factors that led to the success or failure of a project, and they make sure that the same mistakes are not committed twice. These experiences result in a dos and don’ts list, and every team goes through the list like a bible while in the midst of a project.
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