Unplanned projects can end up costing a company a fortune in re-work, while failure to deliver projects on time can have a negative impact on a company's budget.
This is according to Wilma Roos, TriVector project management subject matter expert, who sheds light on the myths surrounding project management.
“The truth is that unplanned and unmonitored projects cost companies a fortune in re-work, the fall-out of dissatisfaction with the results, not to mention duplication in effort between projects,” explains Roos.
“Project management is thought to be costly because the cost of adding a professional project manager to a project certainly represents an additional expense. However, failure to deliver projects on time, within budget, and with the required level of quality costs companies far more.”
She adds that there's a misconception that project management is a new discipline. “In fact, project management is ages old, but the introduction of a formalised, scientific approach, using multiple disciplines to optimise the process, has fuelled the notion that it is new.”
Roos points out that software tools need to be positioned as an enabler of a structured project management strategy. She adds that business managers need to implement realistic contingency planning to provide for unforeseen circumstances if a project fails.
“If this strategy is adopted and process followed, the result is minimal rework, optimum effect on operations, and a significant boost to revenue generation,” says Roos.
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