10 Reasons Why There Is Always Need Of Project Management
At some point you might have wondered: “Do I really need a project management for my company ?” Well, project management is to business what food is to the body. The former is integral to the survival of the latter. So, there goes your answer! But what really makes project management such a crucial tool for thriving in the industry? The reasons are plenty, but here are some major points that make project management such a critical ingredient in the recipe for entrepreneurial success. #1 To avoid the likelihood of reworking! Who doesn’t like to get things done in the very first go? We all want to avoid reworking the same thing. According to a survey conducted by Carnegie Mellon, 70% – 85% of the total rework cost in projects occur due to the failure to specify all the requirements during the analysis phase. Also, 25%-40% of money gets wasted as a result of having to redo a major chunk of work. Project management encourages collaboration. Collaboration helps...