Project management today is of most importance to all businesses and therefore has become a vital element to the success of any organization.
Projects must be aligned closely with the corporate goals and future business strategies.
Shorter product life cycles, intensified competition and aggressive cost pressures are the biggest challenges that businesses face today. Properly planned and managed projects are essential in achieving the corporate set goals. Risks must be minimized and opportunities maximized so that the project results produce high quality, on time, every time, and within the project budget.
The distinct phases of project management are divided into project definition, planning, activity management and standardization. Project management assures successful execution in order to achieve the project objective to the required quality, time schedule, with efficient use of human and capital resources.
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