25 Aug Benefits of Using a Formal Project Management Process
Every organization has projects. Most organizations carry out these projects with no formal project process. Although this approach may work well to get them through small or routine initiatives, where the tasks are straightforward and time is not of the essence. However, trying to make do with ad hoc strategy when a project is strategically important or when business operations will be significantly impacted such as getting equipment operational in an automotive manufacturing plant during shut-down leaves too much to chance. Problems can develop without warning and the project will not be completed on time.
The lack of a formal project process for planning and control puts companies at a huge disadvantage. A proven project management methodology with distinct functions such as communications, team-based planning, risk management and quality assurance will put your project on a path to success.