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Risk Management

Project management is important because it ensures risks are properly managed and mitigated against to avoid becoming issues.

Risk management is critical to project success. The temptation is just to sweep them under the carpet, never talk about them to the client and hope for the best. But having a robust process around the identification, management and mitigation of risk is what helps prevent risks from becoming issues.

Good project management practice requires project managers to carefully analyze all potential risks to the project, quantify them, develop a mitigation plan against them, and a contingency plan should any of them materialize. Naturally, risks should be prioritized according to the likelihood of them occurring, and appropriate responses are allocated per risk. Good project management matters in this regard, because projects never go to plan, and how we deal with change and adapt our plans is a key to delivering projects successfully. Orderly Process

Project management is important because it ensures the right people do the right things, at the right time – it ensures proper project process is followed throughout the project lifecycle.

Surprisingly, many large and well-known companies have reactive planning processes. But reactivity – as opposed to proactivity – can often cause projects to go into survival mode. This is a when teams fracture, tasks duplicate, and planning becomes reactive creating inefficiency and frustration in the team.

Proper planning and process can make a massive difference as the team knows who’s doing what, when, and how. Proper process helps to clarify roles, streamline processes and inputs, anticipate risks, and creates the checks and balances to ensure the project is continually aligned with the overall strategy. Project management matters here because without an orderly, easily understood process, companies risk project failure, attrition of employee trust and resource wastage.