What Does Project Management Really Offer?

When anything has value as a noun, it refers to its significance, value, or usefulness. Value, as a verb, means to determine a thing's monetary value. When a project manager is assessing the value of a process or pain point, for example, the verb form can be extremely useful.

The Practice of Project Management

Some positive benefits are outlined of the practice of project management. Project management can provide value in the following ways:

• Deliver consistent results
• Reduce costs
• Increase efficiencies
• Improve customer and stakeholder satisfaction
• Provide a competitive advantage

The Role of the Project Manager

A project manager performs the following beneficial activities among other things:

• Plans and directs the work of a group or organization
• Monitors that work and its progress, taking corrective action when necessary

Therefore, investing in project management and implementing a process creates a benefit for the project manager. It provides them with clear expectations, faster execution, fewer issues, better decisions and higher customer satisfaction. All of which help fulfill the requirements of their job, thereby benefiting the organization overall.

The Process to “Value” in Project Management

This simple process can be applied to help them get real value from project management:

• Discuss their pain points: Have the CEO or leader of the organization list where the issues are, so you can get a big-picture view.
• Qualify the cost of time, money and effort: Now take those pain points and connect a dollar sign to them: how much are they costing the organization in terms of not only money but time and effort?
• Propose solutions: Suggest ways they could increase revenues, decrease costs or improve some aspect of the organization, and watch them open up. Now they’re starting to understand the value of project management!
• Include them in the process: Once you’ve gotten their attention, bring them into the process, so it can be made simple, easy and fast.

These two tips are given to facilitate the process of project management:

• Identify a quick win for your client or boss: That way they can get something tangible under their belt, motivating them to continue with the project management process.
• Use their language when referencing their pain points: Let them know that you understand their industry and their situation. You don’t want to lose them in jargon or abstract examples.

Pro-Tip: Don’t forget to everyone synchronized by using a project management tool. That’s tool, singular. They will only need one PM tool, if that tool gives them real-time data, integrates with other software and has all the features they need in one place.

“What’s the real value of project management?”  This blog will not only talk about the value of the practice of project management, but also the role of the project manager.  

Well, first of all, let’s take a look at the word ‘value.’ So, ‘value’ can mean… It can be a noun or a verb. So, in the noun form, it’s the importance, worth, usefulness of something. And the verb is to estimate the value, the monetary worth of something.

So, first of all, let’s look at the practice of project management. So, the value of project management is that it delivers consistent results, reduces the cost, increases efficiencies in the process, improves customer service and satisfaction, and provides a competitive advantage to your company.

Well, as the role of project manager, the project manager plans and directs work of a group or an organization, and they monitor the work or progress of the project, and they take corrective actions.

So, as you can see from this, by investing in project management and implementing a process, it provides these benefits to the project managers: clear expectations, faster execution, fewer issues, better decisions, and higher customer satisfaction.

‍