Published on January 9th, 2023
Project management is the process of supervising a team's activity to complete all project objectives within the established parameters. Project documentation that is prepared at the start of the development process typically includes descriptions of this information.
The three main restraints are budget, time, and scope. Optimizing the distribution of necessary inputs and using them to achieve pre-established goals is the secondary problem.
An expert who organizes, plans, and manages projects while adhering to constraints like budgets and timetables is known as a project manager. Project managers oversee the work of entire teams, establish the objectives of a project, consult with stakeholders, and see it through to completion.
The project manager is accountable for the success or failure of the project, regardless of whether they are managing a marketing campaign, building a structure, creating a computer system, or launching a new product.
According to one study by the Project Management Institute, by 2027 businesses will need 87.7 million individuals working in project managerial roles.
It is thus evident that the project manager role is in demand in just about every industry. Let’s take a closer look at what project managers do, why you should consider hiring an all-star team in project management, and how you can get started.
Communication is a crucial ability in a position like a project management, whether it's clearly outlining a plan, stressing a point over email, or bringing a team together.
A successful project manager must have the ability to solve problems and apply logic to problems. Being able to make sensible decisions under pressure or stress might make the difference between a project going successfully or not.
Project managers will need to set up timing schedules, deliver critical documents, organize meetings, schedule activities, and do a variety of other chores that are typically made easier by tools like Excel or Docs from the Office or Google suite.
It may be advantageous for a candidate to have experience with the project management software your company employs, or something comparable.
This position entails a lot of effective idea presentations to key stakeholders in order to get their support and confidence in the project and the project team. When choosing a project manager, it's critical to seek someone with strong presenting abilities, both on a technical and a personal level.
A project manager can use risk management as a tool to take calculated risks that will benefit the organization. Employers favor applicants who can take calculated risks by outlining how their choices will impact the team and project. This calls for a certain degree of assurance and the capacity to understand the risk connected with a project.
Your capacity to resolve problems that could compromise the project's deliverables is a sign of your problem-solving abilities. Prior to selecting and executing the optimal solution, it entails obtaining pertinent information, identifying potential alternatives, and analyzing the benefits and drawbacks of each solution. It aids the project manager in developing a methodical, solution-based strategy to overcome a challenge.
One of a project manager's most crucial duties is cost management or control. Through the course of the project life cycle, it entails developing workable budgets, evaluating budgets, controlling spending, and negotiating the project's cost. Employers search for applicants with knowledge of resource allocation, who can spot high-cost allocation areas and suggest improvements to keep the project within budget.
There are various frameworks, processes, and approaches to project management. Seven project management techniques have been summarized into a list for your convenience. You can also understand which are ideal for your working style.
1. Project Manager: This role profile applies to project managers operating at the entry level. At this level, a project manager can apply project management knowledge when they participate in a project in any capacity and common knowledge is not sufficient to perform at a satisfactory level of competence.
2. PMO Administrator: This role profile applies to PMO administrators. At this level, a PMO administrator will provide support to the project, program, or portfolio team through administrative and reporting activities.
3. Portfolio Manager: At this level, a portfolio manager can lead a portfolio with limited complexity or assist on a complex portfolio, following the appropriate governance applied, monitoring and reporting on the portfolio to several stakeholder groups, and bringing people together to achieve specified outcomes in line with strategic objectives.
4. Program Manager: At this level, a program manager can typically lead a program of limited complexity or assist on a complex program, following the appropriate governance applied for the determined life cycle.
5. Project Coordinator: Working with a project manager or as part of a project management office (PMO), this person brings the basic skills of project management discipline to project teams. Typically takes ownership for maintaining project risk, issue, change logs as well as project schedule and sometimes cost tracking.
6. PMO Manager: Projects and programs can start and end, whereas the PMO is a department that forms part of business-as-usual. The PMO manager will not run projects themselves. Their role is typical to ensure consistency in their approach to selecting, planning, running, and closing projects. The PMO will be the conduit for project status reporting, performance analysis, and information for senior management and is likely to have very solid project management experience.
According to Indeed, the average salary for a project manager is $84,038 per year in the United States.
Pre-employment skill assessments have created a buzz in the market and are being used by the majority of recruiters to vet their candidates. A skill assessment fairly and accurately tests your candidate and gives you a ready-made report to analyze if the applicant can fulfill your job position.
At HireQuotient, we provide many types of project management assessments based on methodologies. Check them out!
Another super-dependable method to assess a project management candidate is to assign them a task. Ask them to analyze a certain project and make a plan to execute it. This way you can check both the technical skills and soft skills and give you an upper hand to judge your candidate accordingly.
The importance of project management in organizations can't be overstated. When it's done right, it helps every part of the business run more smoothly. It allows your team to focus on the work that matters, free from the distractions caused by tasks going off track or budgets spinning out of control.
Book a project management assessment with us today!
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