In practical terms, the primary objective of an organization is to create value for its stockholders. The interests of the stockholders will be served when the organization creates a healthy profit through the achievement of its strategic objectives. And projects are the instruments by which an enterprise accomplishes its strategic objectives.
Organizations, due to the nature of their business, design and execute projects that can be classified as internally and externally funded projects. In organizations that conduct externally funded projects for a fee (of sorts) on behalf of external clients, efficiency in the conduct of projects is the means by which the amount of real profit is enhanced. If the primary line of business ...
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