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Companies not only have to be selective in the projects they acquire but they have to ensure the projects are in line with the strategic plans of the company. Since no strategy is perfect and without risk, companies need to be aware of this. The ability to manage risks allows companies to remain competitive, retain and acquire new customers. Outlining the requirements prior to starting a project can eliminate confusion. Ensuring that time, resources, and issues are all taken into account, planned for, and addressed is a significant part of making sure that the project will meet the measurement of success...
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