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  • Yoav Tchelet

4 Benefits of Implementing a Project Management Approach

Did you know a whopping 14% of IT projects fail?

And those are only projects that failed overall. This statistic doesn’t include those who were unable to even begin because of inability to meet their fundraising goal or other issues before they project even got off the ground.

Although nothing in life is completely foolproof, there are many benefits to implementing a project management approach. These approaches cannot guarantee a perfect project, they can ensure you’re far less likely to end up in that 14% statistic.

Read on for more information on why a project management approach can only help yourself or your business, and some of its benefits.

1. Improves Productivity

No matter what project management approach you’ve implemented, it will increase and improve productivity within your team. Or, if you’re a one-person band, you’ll see improvement in your own productivity.

Sitting down and not knowing where to start leads to time wasted. It can lead to procrastination as well as a general feeling of being overwhelmed

When everyone has a task set out for them and knows what to do next, this will help everyone say focused.

2. Helps You Work Smarter, Not Harder; Thus You May Have More Free Time

You’ve likely heard of the phrase, “Work smarter, not harder.” This means figuring out a way to work that reduces your time working while helping improve the final product.

When you’re able to work smarter, you’re actually freeing yourself up because you’re spending less time worrying about where to start or what to do next. As such, you’ll have more free time to spend how you choose: knock off early or use it to acquire more clients or work on more projects.

3. Better Team Communication

With everything set out for you, it makes it easier for team members to see what they’re supposed to do and who is in charge of what other aspects of the project. This means that it can improve team communication because the team members know who to contact to collaborate on certain parts of the project or event.

There will be no need to muddle through and waste time trying to figuring out who is doing what beyond yourself; now you can send communication immediately.

4. Improved Efficiency

One of the best results of a project management approach is that your company and team can improve their efficiency just by taking it on board. Not only will it improve your team’s efficiency, or your own if you’re on your own, but it will mean that the outcome is almost always better than you anticipated. You know what you need to do to arrive at your solution, and often, its end result is better than you anticipated.

Implementing a Project Management Approach in Your Company

As you can see, implementing a project management approach can only help your company; and not having one may be hindering it.

If you’re new to the idea, it might be a good idea to hire a consultant to help you find the approach that works best for your team.

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