How the project management knowledge areas are important
According to the Project Management Institute (PMI®, www.pmi.org), approximately 66% of all projects fail to meet the approved schedule and are over budget. Considering this, write a short paper describing how the project management knowledge areas are important to successful project management. Include specific examples from your experience.
Sample Answer
The Project Management Institute (PMI) is a global organization that provides project management education and certification. According to PMI, approximately 66% of all projects fail to meet the approved schedule and are over budget. This is a significant problem, as it can lead to financial losses, missed opportunities, and customer dissatisfaction.
There are a number of factors that contribute to project failure. These include:
- Poor planning: Projects that are not properly planned are more likely to fail. This includes not having a clear scope of work, not identifying all of the risks, and not having a realistic schedule and budget.
- Communication breakdowns: Communication is essential for successful project management. When there are communication breakdowns, it can lead to misunderstandings, delays, and errors.
- Scope creep: Scope creep is the tendency for projects to grow in scope over time. This can lead to budget overruns and schedule delays.