The success of a project is determined not just by financial returns, but also by its social-economic benefits and welfare impacts. In the light of this, it is imperative that development projects be property planned, conscientiously executed and monitored. Effective project management therefore helps to improve outcomes through setting agreed goals and milestones, regularly assessing progress and offering a framework within which to balance risk and capability. Organizations which integrate effective project management methodologies, tools and techniques across their operations have been found to achieve more successful outcomes.
Project management is a set of practices, policies and procedures for the selection, management and control of projects within an organization. Any effective programme for project management therefore requires full understanding of the nature and complexity of the project environment, tools and resources available, and the management capabilities and skills.