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According to research, only 2.5% of companies are able to successfully complete 100% of their projects. This means, nearly 98% of companies fail to produce planned deliverable within budget and on time and satisfy their stakeholders.
While a project is made up of several elements, such as a well-defined goal, resources, budget etc., effective implementation of them through a proper project management strategy is the key to project success.
Project management is not only critical to organizational success but it is also a decisive factor in business performance.
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Source: http://creately.com/blog/why-projects-succeed/
