Project management is the process of guiding a team to complete a project successfully, on schedule, and within budget. The project manager is accountable for the project’s success or failure. So, no matter if it’s a marketing campaign, establishing a computer system, or introducing a new product. For example, it can include an ongoing activity or a one-time project.
Throughout a project’s lifespan, the project manager is responsible for:
Earlier, project management was confined to construction and engineering. However, now it has extended to almost all the fields. Indeed, competitive industries now have complicated components to be looked after. For example, this list includes manufacturing, retail, real estate, or corporate offices. These complicated components are:
- identifying and mitigating risks
- careful resource planning
- smart financing
- and good communication across various teams and stakeholders.
Now, these elements should be put together to bring the best out of a project and meet the project objectives.
Regardless of the industry, project management has almost the same role to play. In other words, it helps to define the objectives and goals of the project. Further, it tells when the different project parts are to be finished and who will complete these.
Subscribers to r/ProjectManagement (“a subreddit dedicated to promoting free discussion about all things project management”) experienced massive growth in the past 5 years from ~11k subs in 2018 to ~65k subs in 2021. That’s a 490.909% increase!! And it speaks a lot about the department.
As we proceed further, this blog will give a detailed outlook on the entire Project Management concept.
Understanding Project Management
If we talk in a very simple language, the project management process involves the below-given stages:
From beginning to end, each requires a plan. For instance, this plan outlines how things will look beyond paper, how you can build them, and how they’ll be completed.
Let’s take the example of architecture. Firstly, the plan begins with an idea. Next, it moves to drawing. Then, you have the blueprint drafting.
Thousands of little pieces come together during each stage. On the one hand, an architect provides a single piece of the puzzle only. But, a project manager puts all the pieces together to complete the puzzle.
Usually, every project has a time frame and a budget. So, the project manager tries its best to keep the project sail smooth, on budget and on time. Evidently, a project manager keeps a tab on when the decided time frame is about to end. Meanwhile, they ensure all the team members are working their bit to complete the project on the scheduled time.
Now, let’s look at some types of project management.
A Typical Example of Project Management
The role of project management is central, irrespective of the industry. The methods and output may vary, but the part of the project manager stays consistent; to plan, manage, oversee, and deliver the project.
Here is a typical example of what Project Management, in general, is all about.
- Planning the project as per the company’s goal
The project manager is in charge of outlining the project’s scope. They coordinate with stakeholders to set expectations right from the start. The project managers define what “success” looks like.
Most of this planning at the start of the project is critical to ensuring that it goes well. It ensures that everybody on the team understands what “running smoothly” means.
- Resourcing the project
After the initial planning of the project is over, the next step is figuring out how everything will go. To start with the project, one needs resources, namely – money, time, and workforce. Resources are always limited. So, the project manager’s responsibility is to locate this limited resource in a smart and efficient way.
- Project Management
Things will almost certainly diverge from your wonderful project plan at some point. Thus, great project managers are always prepared for the unexpected. They’ve their research in the context of risk assessment and know what to look towards. They always have a Plan B and are flexible to adapt to the last-moment changes.
- Encouraging the project team
A good project manager is not just well-organized and flexible but also emotionally aware.
Emotional intelligence helps the finest project managers in every way. Overall, it assists in understanding what stimulates each team member. They can handle conflict, and keep everybody on the project team feeling satisfied and respected. Happy and satisfied team members are more productive.
- Project Delivery
It is the project manager’s job to ensure that the planning is properly done. They have to resource, and manage the results to offer the expected outcome. It completes on schedule, and within budget.
- Planning how to improve
The project management regularly monitors the ongoing project. At regular intervals, they stay updated with the current status of the project. Also, they see to it that they are on the right track. If not, the project manager makes certain decisions to improve the progress.
What does Project Management aim to achieve?
The primary purpose of project management is to meet project goals and objectives. On the other hand, it also keeps up with the project’s scope, timeframe, quality, and cost.
Projects are usually complicated and include many stakeholders. Thus, having a project manager to lead the endeavor and keeping everybody on the same path is crucial to project success.
Project management is more than just keeping track of deadlines and budgets. An effective project manager oversees a project from start to finish. They ensure that all of the activities and goals link logically.
Project Management as a Career Option
Considering project management as a professional choice is the first step toward a rewarding future. Project management abilities are in high demand for a variety of reasons. For instance,
- Companies want to enhance their project success rates.
- Project management becomes increasingly important as work grows more global and complicated.
A skilled project manager keeps a project together and assures delivery of quality and goals on schedule and on budget. Failed projects may easily derail your plans and slow or even stop your company’s progress. The project manager is no different from an entrepreneur. They are responsible, they lead the team, and they motivate their team to achieve success.