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Explain the importance of Project Management in today's society. What do you think the industry will...

Explain the importance of Project Management in today's society. What do you think the industry will be like in the next 10 years? What are the most important issues your field is facing today?

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Importance of Project Management in today's society :

1. Clearly defines plan of the project before it begins : The primary function of project management is mapping out the clear plan from beginning to end. The importance of planning in project management cannot be ignored

2. Creates a base for teamwork : People's are required to work together in a team. It helps to benefits the team by sharing the knowledge with others in team.

3. Resources are maximized : Both human and financial resources tends to be expensive.

4. Helps to keep control of costs : It is important to keep on budget and to control spending.

5. Helps to manage change : Project management allows for effective change management and makes it less of a complex task.

6. Quality is continuously managed : Quality results makes the client happy which is win-win situation for all involved,  

7. Knowledge : The more project a business undertakes then the more knowledge is acquires.

8. Creates an opportunity for learning : Sometimes project work perfectly but sometimes it does not work. After this experience past mistakes can be avoided.

Growth of Industry in next 10 years:

1. Infrastructure : If India wants to enter in the modern world it has to fix its Infrastructure as the step towards developing country. Then it will be in the list of developed country.

2. Financial services : The financial service will be more developed according to the modern world.

3. Technology : New technologies will be added in the development process.

4. Healthcare : Healthcare services will be developed.

Important issues Industry is facing today :

1. Proper Marketing

2. Targeting and Retaining Customers.

3. Strategic Leadership.

4. System Usability.

5. Lack of ample funding.

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