Importance Of Project Management

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Chapter 1: Project Management Overview Popularity of PM Interest in Project Management is ever increasing. The recent upswing is related to the brave new world that we live in. The world is changing at an increasing rate. New industries seem to appear almost overnight – social media is changing everything. Combine all of that with the economic swings, projects cannot be managed like we did in the past. Regardless of major or area of study, all disciplines work on projects and thus the individuals in those areas of study should understand and be able to apply the concepts. Studying accounting and finance? The following is from an article by Ed Kless in the April 1, 2010 Journal of Accountancy. “Project management is a client-focused process that significantly increases the probability of providing the desired results to the client. It can help an accounting firm plan its resources more…show more content…
• Different skills are needed to successfully drive projects to bring dramatic business value to the customer. • Knowledge about the process is a necessary but not sufficient body of knowledge to be successful. Leadership skills and the ability to apply both process and leadership skills in an ambiguous and ever changing environment has become the recipe for outstanding project managers. Those project managers that possess those skills are in high demand, as reflected by the large numbers of openings and appropriate pay based on the supply. How the Book is Organized Process Groups There are 3 sections to the book. The first section will be guided by the Project Management Institute® definition of project phases. This approach will provide you with a step-by-step guide on how to manage a project. This approach is known by several names; plan driven, traditional and waterfall. The graphic below shows the project phases, also known as the Process

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