In this article we share observation., answers and reasons on Why product managers get paid more than software engineers and who Who earns more between a product manager and a developer? even the Importance of project planning in construction and How Much Does a Project Manager Earn in Nigeria? a project is a unique, temporary endeavor undertaken to achieve a planned goal that can be defined in terms of results, outcomes, or benefits. A project is generally considered successful if it achieves its goals within an agreed timeframe and budget and according to acceptance criteria. Time, cost, and quality are the building blocks of any project.
Time: Scheduling is a collection of techniques used to create and present a schedule that indicates when work will be done.
Cost: How do you raise the necessary funds and manage your finances?
Quality: How do you ensure the adequacy of your services and management processes?
Read: Salaries for Project Managers
Project management is the application of processes, methods, skills, knowledge, and experience to achieve specific project objectives according to project acceptance criteria within agreed parameters. Project management has the result of being constrained by tight time frames and budgets.
A key factor that distinguishes project management from simple ‘management’ is that project management has a result and a finite duration, as opposed to management being an ongoing process. For this reason, project specialists need a wide range of skills. Often technical skills, and certainly people management skills and good business acumen.
A project manager is a professional who plans, proposes, and executes a project within constraints such as budget and schedule. The project manager leads the entire team, defines project goals, communicates with stakeholders, and sees the project through to completion. Whether it is running a marketing campaign, constructing a building, designing a computer system, or launching a new product, the project manager is responsible for the success or failure of the project.
Duties Of a Project Manager
The project manager initiates a new project by defining the project’s main goals, objectives and scope. You can also identify key internal and external stakeholders, discuss common expectations, and get the approvals you need to move your project forward. Key questions project managers ask at the start are: Why are projects important? What is the specific problem we are trying to solve? What is the desired result? What are the success criteria for the project? Who is affected or influenced by this project? What are the requirements and constraints of this project? What assumptions do we make? What is in our area? What is not in our area of responsibility?
From this past project, what information should consider for this project? It is important to realize that project managers are not the only ones doing this. Project managers are often not assigned until much of this work is already underway.
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However, once a project manager is assigned, he/she must be fully engaged in the above tasks up to the project commissioning and formal assignment.
Once the charter is approved, the project manager will work with key stakeholders to develop an integrated project plan focused on achieving the outlined goals. The plan created by this process helps the project manager monitor scope, cost, schedule, risk, quality issues, and communication. During this phase, the project manager outlines the major</b> deliverables and milestones and identifies the tasks that need to be completed to complete them.
It is important to note that the “plan” of a project is not finished until the project is completed. A project plan should be treated as a living document that constantly evolves and changes throughout the project.
In this phase, team members complete the work identified in the project plan to achieve project goals. The project manager’s role is to assign this work and ensure that the tasks are completed on schedule. Project managers also typically:
- Protect the team from distractions Facilitate problem resolution
- Guide the team in handling project changes
- Monitoring and Control
Although listed as the fourth phase, the monitoring and control process begins at project initiation and continues through planning, execution, and completion. During the monitoring and control phase, the project manager’s work includes:
- Monitor Project Progress
- Manage Project Budget
- Ensure Critical Milestones Are Achieved
- Compare Actual Performance to Planned Performance
Of course, things rarely go according to plan. Therefore, project managers need to be flexible enough to work within the project plan, but adapt quickly when necessary.
During this phase, the project manager strives to ensure that all activities necessary to achieve the final result have been completed. Upon completion of the project, the project manager will:
- Work with client to formally confirm project completion
- Release resources (budget or staff) no longer needed for the project
- Third-party work review or completion by partner
- Future reference and archive project files for use
- What project managers do
- Communicating with team members
Project management is all about communication: emails, phone calls, daily check-ins, and team meetings. Project managers should be in regular contact with team members to determine the status of various projects and potential roadblocks that need to be resolved
Communicate with Key Stakeholders: Just as important as communication with the team is keeping key stakeholders regularly updated on the progress of the project and ensuring that the project is aligned with evolving business initiatives. This communication can take many forms, including weekly or monthly reports, regularly updated dashboards, quick emails, phone calls, and meetings. Learning how to communicate with data, regardless of medium, is an essential skill.
Identifying and Resolving Issues: During the course of a project, issues often arise related to scope, budget, resource allocation, and a variety of other issues. It is the project manager’s job to effectively resolve these issues to keep the project on track.
Budgeting: For small projects, cost estimation can be a weekly or monthly task. However, in large projects that track various expenses, project managers may spend time reviewing budgets each day to ensure that the project is not exceeding resource allocations. If your project involves such partnerships, this may also include reviewing, processing, and approving third-party invoices.
Time management and approvals: To keep projects on track, many project managers use timesheets or project management software to see how their team is spending their time. Not only does this ensure that projects proceed as planned, but it also helps project managers move resources between projects as needed.
Team Building: A good project manager does more than manage the steps of a project. Also, manage your team to keep them productive and happy. This includes team-building exercises to boost morale after a particularly difficult few weeks or project phases. One example is planning weekly lunches and happy hours. The average salary for a Project Manager is $250000 per year.