Value of Marketing Project Management

Value of Marketing Project Management

So, first, let’s look at the practice of project management. The value of project management is that it delivers consistent results, reduces the cost, increases efficiencies in the process, improves customer service and satisfaction, and provides a competitive advantage to your company.

Keeping the many marketing projects on track requires a strict management of metrics and project goals that extends across the project team and out to suppliers, contractors, the client and the other stakeholders.

The State of the MRMcentral 06/19 Project Management report finds that PMs:

Reduced failed projects by 34 percent

Delivered 31 percent of projects under budget

Demonstrated a 26 percent improvement in productivity

Delivered 14 percent of projects ahead of schedule

Saved companies an average of $8,900 marketing dollars per project

With the right resources, a clear timeframe for delivery and senior leadership support, a strong and disciplined project management practices will drive an organization forward.

The way to get the most value out of a project management methodology is through metrics: focus on measurments and processes tied to business goals, collect the data and make them available to everyone.

Does your organization have any of the following characteristics?

Projects completed late, over-budget, or without meeting the functional requirements

Weak standard processes and techniques used inconsistently by project managers

Project management is reactive and not seen as providing value

The time required to manage projects proactively is not built into the schedule

Project management is considered 'overhead'

Projects are "successful" despite a lack of planning and project management, by “heroes” who overcome heavy stress and overtime work to get the job done

Good project management discipline is the way to overcome these shortcomings. Having good project management skills does not mean you have no problems. It does not mean that risks go away. It does not mean that there are no surprises. The value of good project management is that you have standard processes and software in place to deal with all contingencies.