The value produced by the practice of project management is not the
same in every sector of the economy (see Figure 1-5). With the risk of oversimplifying,
■ Corporate projects need to make money, and projects are judged by
their contribution to increasing revenue or cutting unnecessary
cost.
■ Not-for-profit organizations are charged with providing benefits to
a broader society, and projects considered successful have broad or
conspicuous contributions.
■ Government projects must provide needed services or benefits to
groups defined by law. Projects that provide those services or benefits
to the stakeholders of public programs and services, and do so
within the regulations, are considered successful.
FIGURE 1-5 Benefits of adopting project management approaches. Different sectors derive significant value from project management by achieving strategic goals.
■ Academia organizes knowledge into curricula and courses of study, and projects that push knowledge into new areas or advance human understanding are recognized as valuable. Project management must be sufficiently challenging intellectually to warrant attention from leading scholarly institutions
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