Managing a project includes many different elements and many other things that have importance and should be tracked and followed up. Project management system requires you to determine project tasks, create a schedule, assign resources and monitor and look at issues and risks.
A PM system is a complete process of managing a project that includes planning, organizing and arranging its different required aspects. The tasks that are included in project management system include:
- Planning
- Scheduling
- Estimating resources
- Budget management
- Resource allocation
- Risk management
- Quality management
- Decision-making management
- Change control
In this article we are going to discuss some of the pros and cons of PM system:
PROS:
Defines A Plan:
PM system helps in defining and strategizing a plan before implementing it. The planning aspect makes it very easier for the manager to understand the importance of the project and align all the tasks and work accordingly.
Enforces Teamwork:
When a plan is properly defined and tasks are aligned, the tasks are assigned to different team members. The project is taken out by all the team members and the success or failure of project completion depends on the team. This encourages team members to work accordingly and work with one another.
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Managing Resources:
PM requires resource allocation which enables the manager to stay alert about the resources need to complete the project. Resources include human and monetary assets. The resource allocation allows the maximization of resources and assets.
Manages Integration:
PM requires integration with the organization, business process, and systems. Project management system makes the integration much easier and aligned. It helps you to integrate with different processes so that the project will be taken out more properly.
Controls Costs:
Using project strategies really help with the cost of the projects and helps in managing a budget. Some projects require a lot of money to be completed and project management system can really help with that.
Manages Changes:
Projects keep changing and it is not always an easy task to be done. It really helps in managing that change. Change in the project can occur due to environmental changes or any other changes. The project management system really helps with such changes so that the project will be taken out more properly.
Quality Management:
PM system helps in managing quality of the project that has to be taken out. The project management system defines a plan and assigns all the tasks to the team members. The quality thus is an important factor and it is monitored carefully in project management system.
Knowledge Management:
Project management enables the large stream of knowledge. As all the team members’ work together to take out a specific project. Knowledge is the greatest asset for the organization and the business to be taken out. Project management enables more knowledge to be transferred and is used to carry out the project more efficiently.
Risk Management:
This system allows you to manage risk. The risks and return of project are already estimated in project management system. This management system really helps with the risk management by showing different directions and tips to control risks.
CONS:
Complicates Simple Projects:
PM system requires a lot of efforts to manage and plan the project that sometimes it really complicates the simple projects. It requires a lot of planning and arranging and assigning tasks to the team members.
Miscommunications:
As project management system requires a lot of planning and it includes different team members. Sometimes miscommunication occurs between team members or client. Project management system requires communication at every point of the process. The communication can be wrongly manipulated sometimes and can cause issues.
Lackluster Creativity:
As project management system requires very technical planning it limits the creativity and innovative ideas. the lack of creativity really makes the process boring and team members might not take out the project as unique and efficient.
Access Concerns:
As project management system requires a lot of team members. The important data are shared with everyone and sometimes it can cause problems.
Conclusion:
Project management is a process of managing a project till its completion. It includes tools and techniques to deliver the project successfully. Project managing is the key to success for any business and it requires technology, methodology, and all other resources that require the completion. This article has discussed some of the pros and cons of the project management system.
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