Date Added: Dec 2010
Effective management of projects is increasingly becoming important for organisations to remain competitive in today's dynamic business environment. The use of benchmarking is widening as a technique for supporting project management. Benchmarking is the search of best practices that will lead to superior performance in some business activity. Benchmarking has been recognised as one of the most responsive evaluation tool for performance improvement within organisations by creating a culture of continuous improvement from learning best management practices. This paper presents how benchmarking principles can be applied to improve project management process and performance. The benefits and challenges of benchmarking management of projects are also discussed.