Introduction
Project management refers to applying experience, knowledge, skills, methods, and processes to achieve particular objectives based on the acceptance criteria and parameters. In businesses, project management provides final deliverables constrained to a budget and timescale. It also ensures that a business aligns its strategic goals to meet corporate objectives. Although project management is critical in every business’s operation, sustainability aspects must be considered before undertaking the program.
Why Project Management is Key in Today’s Business Environment
In today’s competitive global economy, organizations have seen the need to incorporate project management in their business endeavors. In this case, most companies have discovered that project management is critical to consistently delivering business results. At a business level, the project management concept ensures that the company’s strategic vision and mission drive initial investments (Tharp, 2012). Modern businesses cannot afford not to have project management in their workplace if they want to succeed. Without project management, there will be a disjointed team and clients. Therefore, the concept has relevance in contemporary business because it helps to hold them together. It provides the much-needed unity of purpose so that teams and clients can work together for common goals and objectives. Project management also helps to create a vision within which an organization will form its business strategy.
What to Be Considered Before Undertaking a Project
Before undertaking project management, it is relevant for a project manager to consider certain aspects. Linking corporate strategy to projects is beneficial because it boosts performance. The project manager should identify the significant risks likely to hamper the program underway (AMA, 2019). In this case, it should pinpoint what will likely go wrong in the project. In addition, the manager should gauge the project’s scope to ensure certainty. The aims and objectives of the project should be clear to have meaning in what is to be achieved. The business sponsoring the project should ensure that such programs do not disappear from the desired objectives. Maintaining events for such programs should ensure that the project is aligned with corporate interests. In addition, the business should ensure synergy between project implementation and the business group.
The Sustainability Aspects to Be Considered
Sustainability has a lot of relevance in business, particularly in project management. In this case, sustainable projects require managers to look at such programs in new ways. Contemporary society has reached a point for project managers not to work on their programs as if they were islands. Therefore, there is a need for such managers to harmonize their projects with the business or organizational governance or strategy (PMI, 2010). Placing project management at the heart of the correct business strategy helps the teams and managers to make the right decisions for such programs, society, and the organization. In addition, there is a need for project managers to be fiscally sustainable. In this regard, they should be able to manage budget and time concerning environmental and social sustainability on how they manage resources. Project managers must assess the risks associated with labor practices, consumer issues, fair business practices, and human rights.
How Sustainability Play Out in Project Management
Sustainability plays a critical role in project management because it assists in balancing various aspects such as environmental, social, and economic (PMI, 2010). For sustainability to work, such a project has to meet the present needs of all the stakeholders without overburdening or compromising future generations. Sustainability entails balancing various environmental, community, and economic concerns.
Conclusion
In conclusion, project management plays a leading role in the success of the business because it helps to align corporate objectives. Project management is relevant because it defines what is delivered for the company and whether it is right. In an ever-dynamic world, project sustainability is more paramount than ever before. Such project sustainability involves organizational and individual responsibility to ensure that benefits, outcomes, and outputs are sustainable over lifecycles.
References
AMA (2019). Aligning projects with strategy | AMA. Web.
PMI (2010). The value of Project Management | PMI. Web.
Tharp, J. (2012). Project Management and Global Sustainability. Web.