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There is a strategic component of project management that cannot be disregarded. A project may meet the functional requirements, the projected schedule, and the cost projections, but what does it actually do for the organization? What is the value added from this effort, not just to your department, but also in meeting the organization's objectives? Even though the project may have been justified financially, what was the net benefit to the organization? If the project was justified by some qualitative data, what was the benefit to the organization? Some projects will be approved because they must be accomplished and there may not be a quantitative or qualitative justification, but the benefits must be defined in terms of the total organization.
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