Empowering executive decisions

Those executives who support project management understand that the true value of investing in the discipline is the confidence it lends in knowing that the organization has in place a proven process for monitoring and responding to risks and for helping project teams most effectively and efficiently organize their performance when realizing projects that contribute to an organization's strategy. This article examines the impact that practicing project management can have on an organization's bottom line. In doing so, it details the key elements of practicing project management to increase organizational productivity and efficiency, elements that include an empowered project management office (PMO), committed executive sponsors, thoroughly developed planning and scheduling processes, and prudent resource-allocation methods. It explains the advantages that these elements yield as well as each element's purpose and shortcomings. Accompanying this article is a sidebar describing five executive-level mistakes tha
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