The Importance Of Project Management

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The project is defined as a " temporary endeavor taken to create a product or service which is unique 'and the process of achieving a successful project is the management of the project. The need to provide products and services (projects) which are new and unique usually arises from the organization's strategy and business plans. Consequently, to achieve better delivery performance, management approach must be based on the organization's strategy, integrate with the necessities of business, and focus on the objectives (projects).
In the corporate world strategic importance of project management is rapidly increasing day by day. One reason for this importance is strong belief of business leaders that this alignment has significant impact on organizational goals, strategies and performance. A lot of companies are facing the problem of misalignment of project management with business strategy. The business strategy success solely depends upon on how well it is implemented. And the corporate strategy is implemented or executed through projects. For the corporate world PM has become an important issue. The 30% project failure is occurring just because of misalignment between PM and business strategy. There are some factors that can play an important role in the strength of alignment between business strategy and project management.
Project management is considered as backbone of the organization because of high competition involved in modern business environment. It is clear from the previous studies that many projects do not completed on time, within a specified budget and do not meet to customer’s requirements but project success depends upon more than time and budget goals such as business outcomes. It is common problem for number ...

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... the company's vision, which includes aspects such as improvement / maintenance of client / stakeholder satisfaction and market share. At the organizational level, effective management system offers many potential benefits such as focus on the critical areas of financial success, effective use of resources, analysis of the potential market and opportunities for innovation, development of the learning environment, etc.
As the conclusion we can say that all projects should have clear link with the business strategy and it should be clearly communicated at all management levels and to the project manager as well. Creating link will give the business a competitive advantage such as increased market share, low cost, high value of customer satisfaction, attracting new customers, superior service, etc. So it is important for every organization to align project management w
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