Project management is an essential element of any successful business. It involves the planning, organizing, and controlling of all the resources necessary for a project to be successful. In order to understand the importance of project management, it is important to first define the official business definition. Project management is the application of knowledge, skills, tools, and techniques to project activities in order to meet the project requirements. The 10 Importance Of Project Management are:

1) Defines project goals and objectives;

2) Identifies and allocates resources;

3) Sets up project schedules;

4) Ensures quality control;

5) Creates a communication plan;

6) Manages risk;

7) Monitors progress;

8) Manages documentation;

9) Manages budget; and

10) Evaluates project success. Proper project management helps businesses achieve their goals by managing the resources available, setting up project schedules, controlling quality, and monitoring progress. It also helps ensure that the project is completed within the specified timeframe.