Project management can be defined as a process of application of the knowledge skills and different experiences of the project manager and the team members in order to achieve the objectives identified for the project. The concept of project management can therefore be defined as a systematic process of ensuring that a project is implemented according to the project plan. Proper project management is needed in an organization or a particular project is order to ensure proper project tracking and management of the associated risks of the project. There are a number of reasons why project management is needed in an organization. With the use of the project management approach, the proper project plan can be developed. The different project management methodologies ensure that a proper project schedule and a project plan is implemented. The project management further enforces and encourages team work so that a task can be completed within a scheduled time. A proper project management in needed in every project as it maximizes the capability of the resources. With the use of a proper project management approach, the different processes of the project can be easily integrated and this is the reason every project s needs to evaluate a proper project management approach which will help in successful execution of a project.
Project management is important as it ensures that the project or the product that is delivered to the client is according to the plan and the specifications that are provided by the client. Addressing the needs of the client is an important aspect of the project management and for every project it is necessary to address the specifications of the client. A good and a systematic project management therefore ensure that the goals identified by the project will closely align with the strategic goals of the business of the organization project. Furthermore, the use of project management ensures proper leadership is enforced in the project as a project leader is needed to guide the team in achieving the identified goals of the project. Project management further helps in setting up a clear focus and objectives of a project by which a project plan is delivered which is needed to be followed throughout the project execution. Use of a proper project management approach helps in setting up a realistic project plan so that it can be followed throughput the project implementation phase.
Therefore, it can be said that project management is an important aspect for both organization and a project as the different processes and elements of project management helps in proper execution of the project. It can be made out that project management is an integral concept and the important need of any organization. Therefore innovation in process of project management can help in enhancing the process by which a project is implemented.
Although the concept of innovation is difficult to define, it is not very difficult to understand the importance of innovation in project management. Proper management of the projects are of economic importance as it not only determines whether a project can be successfully implemented or not, but also become an important way of structuring the work process of the different organizations. The term innovation can be defined as a process of translating an idea into a commercially viable product and therefore, innovation has an integral place in project management. Traditional project management process mainly focuses on exclusive delivery of the products and the services with defined deliverables. Innovation in the project management is essential in order to make the project management approaches more focused to the results. The newer project management approaches mainly focuses on achievement of the results and for that innovation in the processes of scope and schedule identification is needed. Innovation in project management is necessary in order to address the different project management risks is a more sophisticated manner. One of the significant benefits of innovation in project management is to ensure the successful development and delivery of a project. Creativity and innovation can be considered as magic wands that can enhance the performance of the project. The use of innovative practices will help in discovering the opportunities in execution of the project in a systematic approach. In order to bring innovation in the project and the project management approaches, understanding the needs of project is needed to be evaluated. Innovation in projects is important for different organization in order to stay competitive. Therefore, it can be said that innovation in project management is important in order to improve the success rate of the project by reducing the risks associated with the project.
Innovation is project management is important to be evaluated in order to analyze the new ideas that can contribute to the successful execution of a project. There are a number of issues associated with the use of innovative approaches in project management. Innovation needs a huge amount of monetary investments that might not be possible to afford for the small organization. However, benefits of innovation are equal in every organization irrespective of the organizational size. In order to identify the innovative approaches of project management it is necessary to identify the needs of the different organization followed by choosing the advantages of those innovative approaches in an organization. The use of innovative approaches in project management will further help in proper identification of the strategic goals of the organization. The innovative approaches in project management will ensure that the project is implemented in a strategic manner so that the risks in the projects in considerably reduced. Innovation in project management further helps in keeping the project team motivated as the team members will be working in a project that will consider the use of innovative approaches in the implementation of a project.
Innovative approaches in project management helps in quality assurance in a project. Proper quality check is an important aspect of project management and therefore innovation in this field will enhance the quality of the project that will in turn increase the customers’ satisfaction. Therefore, innovation in project management not only adds to the benefits of the organization but will also increase the satisfaction of the customers associated with the project. Therefore it is necessary to properly determine the elements of project management that should be integrated with the innovation so that the project in consideration achieves maximum benefit. The concept of innovation in project management is not new; however, the success of a project largely depends on the appropriateness of the project management methodology that is chosen for a particular project. Innovation in project management can only work if the right approach of implementation of a project is identified. The importance of innovation in project management is needed to be evaluated in order to develop new practices that will enhance the future trends of project management.