Having the ability to manage projects as whole is becoming more and more important for companies as industries become ever more competitive. The effectiveness of being able to view and keep of control of jobs as a whole once they have been won can help determine a companys reputation, profitability and can influence the likelihood of winning future contracts.
The reason for project management is very simple yet very effective. A project can consist of numerous parts that can be called off over long spans of time. Having all of these transactions associated under one project gives you access to an array of information that can be both manipulated and analysed to ensure the smooth processing of the current project along with aiding the planning process of future ones. Below are two of the many benefits that you can get out of effective project management:
- Staying within budget. The aim of every project is to make money and also ensure that you end up within reasonable accuracy based on your original budget. Data from previous projects that are of a similar nature can go a long way in helping you make sure you set realistic targets. If you tell a customer that you predict a project will cost £20,000 and you finish up under budget, then you will stand in good stead for potentially winning their repeat business. On the other hand, if you tell them you predict a project will cost £20,000 and you finish up over budget, your customer may start to question your experience and project management skills.
- Ensuring all sources are the same. So lets say you have won a contract to supply the balconies to an entire new housing complex. Due to building regulations, there is a high possibility that you are required to comply with certain sourcing regulations. It may be that the raw materials may have to be sourced from a particular place or they may even have to come from a common batch. Having reference to this information by being able to directly see purchase orders and works orders that have been raised for that particular project. The same principles can be applied to internal project managers or even external contractors.
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