“Management must manage!” ~ Harold Geneen 

In the early 90’s, terms like “project” and “project management” came to mind regarding mostly only construction and buildings. Today, project management has reached almost every facet of economy and branch of industry. Writing, managing or participating on a project has become an inseparable part of everyday life, and thanks to flexibility and universality, project management techniques have become embedded within various branches of economy.

This kind of mindset is always applicable when it comes to solving set tasks by a determined date and time. Here, we should view project tasks on a larger scale. For example, school student exchange programs necessitate scheduling with other educational institutions, which are now also deemed to be projects. Computer companies that develop new and innovative solutions for their customers also engage in projects. Real estate development companies that renovate or transform old or abandoned buildings into modern bureau offices work on projects. Advertising companies that run campaigns on behalf of other companies or products think of this as a project. These are just a few examples of how project management methods are used over different branches of the economy at large.

One particular question may arise: why does project management as a term have so many different meanings, and why is it used in so many spheres of activity?

To answer this question, let’s first look at the definition of ‘project’:

A project is a temporary, one-time set task which has a clearly determined duration target, production or expense purpose.

It can also be defined this way:

A project is a one-time, on term (taking place within a certain time period) task that usually connects separated business units or organizations, and which is thought of as so important, crucial or essential that a special work group is created to reach the established goal or target.

One reason why project management methods are so widely used is that, with the right engagement, it is possible to solve different project tasks in a shorter period of time. In this regard, velocity and transparency are the number one headwords. All companies that want to be successful should always keep up with new and innovative solutions. In modern times, the situation has irreversibly changed so that companies that do not make any changes or implement new tools and techniques can no longer survive. Whether a business, administrative agency or education institution, all organizations should be ready to make quick changes as necessary in their surrounding business environment.

One often-cited rule is that bigger enterprises will swallow smaller ones. However, a more accurate rule would be that faster enterprises will eliminate slower ones. The evolution of technology has created dramatic changes in all industries, and it is therefore very important that companies can make important decisions faster than ever. Many managerial leaders and observers believe that 9 out of 10 incorrect decisions are caused by late responses. In other words, companies react too late for the right changes to be implemented.

Using project management methods, organizations as a whole will become more flexible and have faster reaction times. With the right methods, planned and accomplished projects have a advantage over their competitors.

There can be many different reasons for starting a project. Here are just some of them:

– A need to accomplish an idea

– A need to better serve existing and potential clients

– Competitor activity within the same branch area

– Reacting to business climate changes

Project management skills and knowledge is essential for the leaders of every organization. Without good project management, it is impossible to run your business efficiently and productively. While company leaders do not have to understand project management on the same kind of level as project managers, general knowledge is always an advantage. If company leaders and decision makers in different working units have a basic knowledge of project management, running and accomplishing projects will then become more transparent and effective, resulting in more success for the company overall.

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