The Importance and Implementation of Project Management

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Introduction Order and structure are essential to leading a happy and successful life. Organization and prioritization helps one set their goals in order. This means that one does not become workaholic and is able to dedicate appropriate time to family and work. The same kind of order and organization is necessary for a firm to fulfill its main goals. Project Management dates back to the 1960s where it was first adopted by the US government when it divided its many functions into separate programs, like the space and military programs. This began because managers and organizations learned that division of work into skill defined units and assigning each task to a separate group of people was extremely beneficial and helped increase the overall efficiency. The skill defined units are departments and the groups of people, are the departmental teams. This way each team is handling one task or project and they are assigned a project according to the skill they are supposed to possess. For example budgeting and forecasting is the job of the Finance Department. Project Management is the name given to a structure that is used to align and divide the tasks in such a way that they lead to a smooth attainment of overall organizational goals (Understanding the Basics of Project Management n.d.). According to the Project Management Institute the term 'Project Management' refers to the proper allocation of resources, such as: skills, techniques and knowledge to the completion of an

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