Evidence has shown that effective project management has the ability to reduce project costs and risks and improve project outcomes. According to one study, 94% of those organizations that implemented project management improvement initiatives said that the initiatives were valuable to the organization (Center for Business Practices 2001).

Successful project management requires more than the application of a set of project management methods and tools; it also requires effective communications, team building, organizational development, risk management, quality control, and leadership. In addition to increasing the payoff from individual projects, the entire organization can be positively impacted by successful project management. By leveraging the outcomes of successful projects, organizations can achieve competitive advantage. By managing portfolios of projects, organizations can ensure that projects contribute to their strategic direction and reduce project and organizational risks. By applying effective project management tools, organizations can monitor and control projects across the enterprise. By building a self-perpetuating culture of professional project management, organizations can succeed and enhance the professional growth of employees.