Topic > The Importance of Project Management - 1949

Project is defined as "a temporary effort undertaken to create a product or service that is unique" and the process of achieving a successful project is project management. The need to provide new and unique products and services (projects) usually arises from the organization's strategy and business plans. Therefore, to achieve better delivery performance, the management approach must be based on the organization's strategy, integrate with and focus on business needs. the objectives (projects). In the corporate world the strategic importance of project management is rapidly increasing day by day. One of the reasons for this importance is the strong belief of business leaders that this alignment has a significant impact on organizational goals, strategies and performance. Companies are faced with the problem of misalignment of project management with corporate strategy. The success of the business strategy depends solely on how well it is implemented. And business strategy is implemented or executed through projects. For the corporate world, PM has become an important issue. 30% of project failures occur precisely because of the misalignment between PM and business strategy. There are some factors that can play an important role in the strength of the alignment between business strategy and project management. Project management is considered the backbone of the organization due to the high competition involved in the modern business environment. It is clear from previous studies that many projects are not completed on time, within a specified budget, and do not meet client requirements, but project success depends on more than time and budget goals, such as business results. It's a common problem for the number... middle of the paper... the company's vision, which includes things like improving/maintaining customer/stakeholder satisfaction and market share. At the organizational level, an effective management system offers many potential benefits, such as attention to critical areas of financial success, effective use of resources, analysis of potential market and innovation opportunities, development of the learning, etc. As a conclusion, we can say that all projects should have a clear connection with the company strategy and should be clearly communicated to all levels of management and also to the project manager. Creating a link will give the company a competitive advantage such as higher market share, low costs, high customer satisfaction value, attraction of new customers, superior service, etc. So it is important for every organization to align project management with