A standard approach to the practice of project management
- Use of consistent, repeatable processes and documentation
- Reduced need to "reinvent" project management tools and techniques
- Access to shared project management history, experience & best practices
- Ensured accomplishment of critical project management activities
- A common frame of reference for project team members
- A common understanding of project responsibilities in the organization
An effective business communication and reporting mechanism
- Establishes standard project management terminology in the organization
- Enables consistent information processing across all projects and programs
- Facilitates roll-up (aggregation) of project reporting to the executive level
- Promotes effective project team interactions and customer relationships
A state-of-the-art project management practice
- Increased customer satisfaction
- Conformance to customer requirements and project objectives
- Ability to achieve planned project schedules
- Effective project cost control
- Shortened development and implementation cycles
- More predictable project (and business) performance
- Increased profitability, and reduced project costs
- Improved resource planning, allocation, and management
- Use of tools that provide a competitive business edge
Enhanced business benefits
- Quicker realization of profit or payback on investment
- Earlier availability of products to market (or for internal use)
- Clearer business case evaluation and ongoing business case validation
- More effective, more knowledgeable business decisions
