Running projects — whether launching a new product, building internal systems, improving processes, or delivering client work — is full of moving parts and potential pitfalls. That’s where a good project manager (PM) comes in. Here are five compelling reasons businesses should invest in one:
1. Increase the likelihood of project success
Projects without clear ownership or coordinated oversight often drift off track. In fact, organizations that adopt formal project management practices achieve their project objectives at much higher rates.
- According to Visual Planning, “organizations that use project management practices have a 92% success rate in meeting project objectives.”
- Another source notes that projects are “2.5 times more successful when PM practices are implemented.”
A project manager helps ensure goals, timelines, budgets, scope, and quality stay aligned — reducing the odds of failure.
2. Better alignment between strategy and execution
It’s not enough to have a “cool idea” — it has to match the company’s strategy, resources, and capabilities. A project manager acts as a bridge between leadership vision and on-the-ground work. They help:
- Define clear business cases and objectives so every project supports long-term goals.
- Monitor benefits — making sure the intended business value is realized, not just that tasks get done.
- Adjust course when assumptions change, so you don’t waste time or money on misaligned efforts.
3. Control over schedule, budget, and risk
One of the PM’s primary roles is to manage the “iron triangle” — scope, time, cost — and to spot and mitigate risks before they become crises. Without that oversight:
- Poor project management causes organizations to waste about 12% of their resources.
- Overruns in budget or schedule are common failure points. For example, 55% of respondents cite budget overrun as a reason for project issues.
- 37% of projects fail because they lack clearly defined objectives and milestones.
A project manager plans, tracks, and foresees problems — reducing surprises and smoothing execution.
4. Better communication, coordination & stakeholder management
Many project failures stem not from technical issues but from miscommunication, unclear roles, or unengaged stakeholders. A project manager:
- Becomes a central point of contact — making communication consistent and transparent. In a PwC study, 52% of businesses said adopting project management improved team communication.
- Ensures stakeholders (clients, leadership, team members) stay informed, involved, and accountable.
- Helps reduce “scope creep” (requirements that expand ad hoc) by managing change requests carefully. Organizations prioritizing soft skills are 12% less likely to experience scope creep issues.
In effect, the PM keeps everyone rowing in the same direction.
5. Efficiency, consistency, and continuous improvement
Once your business starts doing projects more often, the overhead of reinventing coordination, templates, tools, and processes for each project becomes costly and chaotic. A project manager helps:
- Introduce repeatable processes, methodologies, templates, and frameworks (e.g. Agile, PRINCE2, Scrum, hybrid) instead of starting from scratch.
- Use data and metrics (KPIs, earned value, dashboards) to monitor performance and refine practices over time. (Project managers able to leverage data analytics contribute to better decisions and business performance.)
- Capture lessons learned, feed improvements into future projects, and grow institutional knowledge.
Over time, the presence of a PM elevates not just individual project success, but the maturity of your organization’s project culture.
Bonus: It’s a growing, recognized profession
To top it off, project management is not just a nice-to-have — it’s becoming a recognized and in-demand specialization. The U.S. Bureau of Labor Statistics projects 6% growth for project management specialists through 2034 — faster than average. Bureau of Labor Statistics and recent surveys show 97% of organizations believe project management is critical to business performance.
So if you don’t have one yet, you’re likely falling behind peers that do.
In summary
A capable project manager does more than track tasks — they safeguard value, reduce waste, harmonize stakeholders, and build better ways of working. For any business that runs multiple or complex projects, the investment in a strong project manager typically more than pays off.
Want help implementing project management in your business?
If you'd like guidance on hiring, training, or integrating project management into your workflow so your projects consistently succeed — reach out! Email me at info@acedeguzman.com and let’s talk about how we can power up your next big initiative.