Successful projects begin with clear structures for planning, reporting, managing change and risks, and following agreed-upon processes that fit the organization’s needs. A one-size-fits-all approach to project management rarely works; instead, processes should be flexible and align with the desire of the organization for information and communication while flexing to fit the project’s size, complexity, and strategic goals.
According to a recent study by the Project Management Institute (PMI), organizations that fully adopt
formal project management practices waste 28 times less money than those with less mature practices. Standardized processes ensure consistency, efficiency, and clarity in managing project tasks, timelines, and deliverables.