It is the collection of different tools, techniques and parameters that can be applied to meet the project requirements. It provides comprehensive guidelines in the form of policies, principles and procedures necessary for the actualization of the project. It helps in achieving outputs in an efficient manner so that organizational benefits can be maximized. Its correctness helps the organization run more effectively. It gives the team a clear direction especially devoid of distractions to avoid wastage of time and resources. Hence, it enables them to deliver concrete results. It also guides organizational team that how their efforts can better help better materializing their company’s strategic goals.