Seven Key Principles Of Project Management

Business justification: every project should lead to a worthwhile return on investment. In other words, one need to understand the benefits that a particular project will bring, before committing ourselves to any significant expenditure. During the lifecycle of a project, however, circumstances can change quickly. If at any point it becomes clear that a return on investment is no longer feasible, then the project should be scrapped and no more money wasted. Everybody working on the project needs to understand the nature of their involvement.