How to Minimize Costs with Effective Project Management - Essay Example

Effective Project Management Effective Project Management Any project that a person decides to invest in always aims at reducing the cost and increasing the output. For this to be achieved, a good project management should be adopted if the desired goals and objectives are to be realized. Therefore, the need of effective project management comes in to being to ensure all this.I agree with the point’s highlighted (dos and don’ts) to be followed so as to ensure that the cost is reduced. These points include; setting out a plan, coming up with a detailed budget, establishing a core project team and ensuring that you do not change your direction too many times.

In addition, one should ensure not to put too many people in the project and do should avoid bad vendors at all cost. In addition, ensuring that the teams employed have the right skills to pursue the specified goal is also of great importance. This is because the staff does what they know best hence reducing cost and time wastage.secondly, any staff member who meets the desirable goal should be rewarded to motivate them and to encourage the others to do their best, thirdly, should value the contributions of in members’ dimensions to ensure that they are left out.

In addition to this, appointing of a qualified project manager to deal with should be in the forefront to ensure that the project remains on the right course to attain. In conclusion, all the contributions of every employee should be valued in all dimensions to avoid favoring some, which leads to low productivity. This is to mean that each individual should be given credit according to what he does best.Reference“How to minimize costs with effective project management.” (2014). retrieved 10 November 2014 from http://business.answers.com/management/how-to-minimize-costs-with-effective-project-management