The Importance Of Project Management For The Business World

Introduction With aspiration of becoming a project manager, the information pertained throughout this course served as a great guide to being an effective project manager. Being effective is the best route in ensuring a successful project. It is critical that the project is managed effective from the beginning of the business project. While the success of a project is never guaranteed, project managers have better chances with implementing the tools discussed from this course. I will first discuss the importance of project management to the business world. In addition, the different components of project management such as project life-cycle management, project organizations, team building, work breakdown structure and the use of project management software are some of the implement to be discussed as well. The software comes with the benefits that can be provided to a project management organization. Many organizations and industries use project management as a guide to effect ively manage projects. Those industries include construction, Department of Defense contractors, non-profit organizations and governmental entities (Larson Gray, 2014). Surveys have been used from governments and industries to emphasize the importance of project management. The Economist Intelligence report argued that, â€Å"80 percent of global executives believed having project management as a core competency helped them remain competitive during the recession† (Project Management Institute,Show MoreRelatedModeling and Its Importance to the Decision Making Process in Business899 Words   |  4 PagesModeling and Its Importance to the Decision Making Process in Business Modeling and Its Importance to the Decision Making Process in Business CIS 331 System Modeling Theory Modeling and Its Importance to the Decision Making Process in Business When we refer to models, often times we picture a model as being something that is tangible, two or three dimensional, and a miniature replica of how we imagine a particular project. 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