Essay on Project Management : For India 's Demand For The Specialty

1201 Words Apr 15th, 2016 null Page
Project Management is used in every industry worldwide, regardless of size and scope. From the information technology industry to marketing, finance, and even the military project management is an important component. To put it into perspective how project management is being used worldwide take a look at India’s demand for the specialty. In 2014, India had over 37,000 Project Management Institute (PMI) certified professionals in the country and that number continues to grow (PMI Annual Report, 2014). This paper will be explain the importance of project management and discuss how life-cycle management, project organizations, and team building are essential strategies for completing successful projects. Finally, work breakdown structure will be briefly reviewed as well as the benefits of project management software.
Project Management is defined as “the application of processes, methods, knowledge, skills and experience to achieve the project objectives” ("What is Project Management," n.d., para. 1). It requires both the application of technical skills and the ability to establish interpersonal relationships (Larson, 2013). Project Management is vital to all business practices because it identifies potential risks, estimates costs, evaluates resources, sets timelines, and establishes goals. The absence of project management can be extremely detrimental to any business because it places them at risk for wasting money and time. The end result is the inability to provide an…

Related Documents