EBSolute Blogs, Project Management

How to be a project manager- a brief introduction

Eaton Business School

Eaton Business School

Share this article

Project management is a multifaceted field that requires a diverse set of skills, including planning, risk management, communication, leadership, and team management. These skills are essential for ensuring that projects are completed on time, within budget, and to the satisfaction of all stakeholders.

In this article, we will delve into the essential skills and strategies required to become an effective project manager, using real-world examples and expert quotes to illustrate key points.

Table of Contents

What is project management?

Project management is the process of leading a team to achieve specific project goals within constraints such as time, scope, and budget.

In other words, it is the process of managing a project and all its related activities from start to finish. Project management plays a critical role in the operation of a business. The effective use of project management tools and techniques is the key to success for any organization.

Project management definition

Project management is the application of skills, tools, knowledge, and techniques to achieve specific project objectives which leads to the successful completion of a project.

The development of a product or service, construction of a new building, expansion of business to new regions, etc are a few examples of a project.

Every project will have a dedicated team, budget, specific deliverables, and a finite timescale. The final result of a project can be tangible or intangible.

Project management life cycle

The project management life cycle starts when the project is started and ends when the project is completed or terminated.

Source

Project management phases

Source

The project management life cycle consists of 5 phases, each with its own goals and deliverables. It is important for a project manager to have a complete understanding of these project management phases.

1. Initiation

This is the first stage which starts with a kick-off meeting. Project initiation consists of the following activities:

Define the objective of the project
Determine the project scope and deliverables
Identify the project stakeholders
Conduct a feasibility study
Develop a business case
Develop the statement of work

2. Planning

The next stage in the project management lifecycle is planning, which involves setting the project roadmap. This roadmap will specify the key milestones and timelines for the project and also the target completion date, helping the project team have a clear idea of their goals.

Activities in the planning phase include:

Creation of project roadmap
Team formation & resource allocation
Specifying the project deliverables
Selection of PM methodology

3. Execution

As the name suggests, this is the phase during which all the work gets done. The project manager is responsible for guiding the team and stakeholders throughout to ensure a smooth workflow. Some of the major activities the project manager will do in the execution phase are:

Budget management
Timeline management
Quality management
Risk management
Change management
Internal reviews
Regular team meetings

4. Monitoring

After the execution phase comes to the monitoring and control phase. During this phase, the project manager measures the team’s performance and tracks the progress of the project.

Monitoring phase activities include:

Regular monitoring using tracking tools or frameworks
Corrective actions if required
Budget & expense control
Quality check for deliverables
Timeline assessment

5. Project closure

Project closure or “Project Delivery” is the final stage in the project management lifecycle. A project closure meeting will help the team evaluate the end result and find areas for improvement. Some of the project closure formalities include:

End result evaluation
Final budget evaluation
Preparation of final project report
Completion of formal contracts and agreements
Documentation and archival of data

Understanding project management methodologies

Project management methodologies provide a framework for planning and executing projects. According to the Project Management Institute (PMI), knowledge of project management methodologies is crucial for project managers.

A project manager needs to know about the different project management methodologies that exist. That doesn’t mean that you need to be an expert in all of them, as they’re usually industry-specific and require certification.

Creating a project schedule

Creating a project schedule is a critical part of project planning. This involves organizing tasks, teams, and time to complete the project. Project scheduling tools like Gantt charts or project management software help in visualizing the schedule and managing dependencies.

Project scheduling is a vital process in writing your project plan. A project schedule organizes tasks, teams, and time to complete a project.

Resource allocation and budgeting

Resource allocation and budgeting are essential components of project planning. Understanding budgeting principles and cost estimation techniques ensures that projects stay within budget.

Project managers need to allocate resources effectively, including human resources, equipment, and materials.

Understanding of budgeting principles and cost estimation techniques to ensure projects stay within budget.

Risk management

Identifying potential risks

Identifying potential risks is a critical step in risk management. Project managers must pinpoint what could go wrong and implement a risk mitigation strategy. This involves asking the team hard questions, and continually confirming timelines, decisions, and dependencies.

A project manager must be able to gather information, weigh the associated pros and cons, and then formulate the best solution.

Implementing risk mitigation strategies

Implementing risk mitigation strategies involves developing a plan to minimize or eliminate risks. This includes using professional risk management tools to analyze potential risks and develop mitigation strategies.

They should also know how to use professional risk management tools that allow them to analyze potential risks to develop risk mitigation strategies.

Monitoring and Reviewing Risks

Monitoring and reviewing risks is an ongoing process throughout the project lifecycle. Project managers need to continually assess the risks and adjust the mitigation strategies as needed.

Communication

Effective communication practices

Effective communication is crucial for project success.

Project managers must have strong communication skills to convey messages to clients and team members, share their vision, goals, ideas, and issues, and produce presentations and reports. Project managers must have strong communication skills to be able to convey messages to clients and team members.

Stakeholder management

Stakeholder management involves managing the expectations and needs of key stakeholders. Project managers need to understand who their stakeholders are and how to communicate effectively with them.

Effective stakeholder management involves understanding who your stakeholders are and how to communicate effectively with them.

Active Listening and Feedback

Active listening is an important part of effective communication. It allows project managers to fully understand the perspective of the person they are speaking to and empathize with them.

Providing feedback is also essential for continuous improvement.

Leadership and team management

Leadership skills for project managers

Leadership skills are critical for project managers. They allow leaders to oversee and coordinate tasks, motivate and encourage the team, and define the road map to complete the project successfully.

Strong leadership skills are critical for project managers. They allow leaders to oversee and coordinate tasks as well as motivate and encourage the team.

Team building and conflict resolution

Team building involves bringing the team together and aligning their personal goals with those of the organization. Conflict resolution involves handling conflicts within the team and evaluating performances to help team members improve their skills.

Importance of project management

Let’s now discuss the importance of project management in today’s world.

Project management plays a pivotal role in multiple industries such as construction, software development, healthcare, banking and finance, retail, Government, Non-profit organizations, manufacturing, pharmaceutical research, and so on.

If you look at organizations that are well-managed, they will have a solid project management system in place. It is an area that deserves strong attention as it drives the business forward and ensures the best results.

Benefits of project management

Here are the top benefits of project management:

Adopts a proactive approach
Increased productivity & job satisfaction
Avoids confusion and organizes work
Improves team collaboration
Optimizes resource allocation
Reduced costs & avoid overspend
Enhance customer satisfaction
Ensures On-time delivery
Enhances stakeholder satisfaction
Gains competitive advantage

Types of project management methodologies

There are various types of project management methodologies catering to the needs of specific industries and projects. Here is a list of the commonly used project management techniques:

1. Waterfall methodology

In this model, the tasks cascade down in a sequential, linear fashion.

The waterfall model can be divided into 6 phases with each phase getting completed before the next phase begins.

The waterfall model is a well-defined methodology that is best suited for projects with fixed scope and deliverables.

The 6 phases of the waterfall methodology are:

Requirements
Analysis
Design
Coding
Testing
Deployment

2. Agile project management (APM)

Agile methodology adopts an iterative, flexible approach to planning and executing project tasks by breaking down the processes into smaller sections called iterations or sprints. It is popularly used in product development, engineering, and software development industries.

Agile is one of the most effective project management techniques as there is continuous process improvement throughout the project life cycle.

The 5 main phases in the Agile Project Management process are:

Envision
Speculate
Explore
Adapt
Close

3. Scrum

Scrum is an Agile framework where a small team is led by a Scrum master. The work is carried out in small cycles called sprints.

The Scrum team comprises a product owner, a development team, and the Scrum master. The Scrum Master ensures that there are no roadblocks in the process.

Scrum methodology is best suitable for complex projects where a small number of developers are employed. Adopting the Scrum methodology will help to speed up the development process while maintaining the best quality.

4. Kanban

Kanban is another Agile framework that is more flexible than Scrum. It focuses on quality deliverables and timely delivery.

The Kanban concept was developed by Toyota in the 1940s to improve manufacturing efficiency.

Similar to Scrum, Kanban also works well for projects with smaller teams with a flexible approach to product delivery.

The Kanban framework involves the following core practices:

Visualization of workflow
Limiting work in progress
Active workflow management
Making process guidelines
Using feedback loops
Evolution & Improvement

5. Lean method

Lean methodology focuses on minimizing waste and maximizing value for the customer.

Lean is a business philosophy developed by Toyota in the 1950s. Effective application of lean philosophy can help businesses to reduce cost and lead time while increasing quality.

Lean methodology has 5 lean principles – value, value stream, continuous flow, pull system, and perfection.

Streamlining Success: Exploring the Benefits of Lean Manufacturing

Network diagram- project management

A network diagram is a graphical representation of a project which helps to visualize the project activities before starting the work.

It shows the sequence of activities and task duration for each activity. In a project network diagram, the boxes or nodes represent the activities, and arrows depict the relationship between the activities.

A network diagram allows a project manager to track each project activity and share the status with the team members.

The two most commonly used methods for drawing a network diagram are the precedence diagramming method (PDM) and the arrow diagramming method (ADM).

Project manager roles and responsibilities

If you are planning to start your career in project management, you should be aware of the different roles and responsibilities of a project manager.

A good project manager takes control of a project from start to end, ensuring that the team’s initiatives and goals are strategically aligned.

Role of project manager

Project managers are responsible for planning, organizing, and driving one or more projects to completion while effectively managing the three critical constraints viz time, scope, and quality. The role of a project manager differs according to project size and organization.

“Leadership offers an opportunity to make a difference in someone’s life, no matter what the project.” ~ Bill Owens

What does a project manager do on a daily basis?

Apart from the above-mentioned duties, a project manager also performs many other day-to-day activities such as communicating with project stakeholders, interacting with the client, conducting team building activities, resolution of unexpected issues, tracking project progress, preparing important project documents, cost control, and so on.

Be it small firms or multinational firms, project managers act as the pillars of an organization.

Project management principles

The principles are the fundamental rules to be followed for successful project completion. Following are the key principles a project manager must follow while managing a project.

Define a project organization structure
Prepare a communication plan
Set clear project goals and objectives
Performance management baseline
Define roles and responsibilities
Change management plan
Create a risk management plan
Quality management plan

Project management job opportunities

Any business that has projects needs project managers. Project Management is aimed to offer value at the strategic and organizational levels while also creating excellent job opportunities for people around the world.

According to PMI’s 2021 Talent Gap report, 2.3 million new project management professionals will be needed each year to meet global talent demands by 2030.

Top project manager jobs

If you are aspiring to become a PM professional, here are some of the job positions you can consider for yourself.

Project management consultant
IT project manager
Construction project manager
New product development project manager
Assistant project manager

Project management tools

Project management has evolved significantly in recent years, and there are plenty of tools to help facilitate those changes. These tools help to streamline the process and make it more efficient.

Here are some of the best project management software tools available today:

Asana
Zoho Projects
ProofHub
Workzone
Hubspot
Clarizen
Kanban Tool
Teamwork
Gantt Charts
Work Breakdown Structure

Key project management skills

A PM professional needs a broad range of skills from technical skills and people management skills to communication skills and business knowledge. Through education and training, you can acquire the skills required to handle the role of a project manager.

Listed below are some of the key project management skills :

Pursue an MBA in project management

Like any other field, project management is also continuously evolving which makes it important for professionals to upgrade their skills periodically.

If you have already gained some years of work experience in a company, then you can consider pursuing an Executive MBA while working full-time.

MBA in Project Management is a postgraduate program that will help you familiarize yourself with project management tools and techniques. Executive MBA is specially designed for busy working professionals as it can be pursued online or through part-time mode.

An MBA degree will help you gain in-depth theoretical knowledge about business management concepts. In addition, an internationally recognized master’s degree will always add great value to your resume.

Project management certification

Getting a certification is another valuable add-on to your profile. Popular courses like Project Management Professional (PMP) certification and Certified Associate in Project Management (CAPM) are highly recommended if you are looking for a highly rewarding career in PM.

Conclusion

Becoming an effective project manager requires a combination of planning, risk management, communication, leadership, and team management skills. By understanding project management methodologies, creating a project schedule, identifying potential risks, implementing risk mitigation strategies, practicing effective communication, and developing strong leadership skills, project managers can ensure the success of their projects. Here are the essential skills summarized:

Project Planning: Understanding project management methodologies, creating a project schedule, resource allocation, and budgeting.
Risk Management: Identifying potential risks, implementing risk mitigation strategies, and monitoring and reviewing risks.
Communication: Effective communication practices, stakeholder management, and active listening.
Leadership and Team Management: Leadership skills, team building, and conflict resolution.

By mastering these skills, project managers can lead their teams to success and deliver projects on time, within budget, and to the satisfaction of all stakeholders.

FAQs

What qualifications do I need to become a project manager?

Generally, a candidate needs a Bachelor’s degree with at least 2 years of work experience for project management roles. However, the eligibility criteria may vary depending on the industry and nature of the project.

Is project management a good career option?

Yes, project management is an excellent career option offering opportunities to work with diverse types of clients from around the world. Project manager jobs come with high salary packages as the demand keeps increasing.

What are the skills needed to become a project manager?

A right mix of soft skills and hard skills is required to become a successful project manager. Hard skills also termed technical skills can be acquired through education and training programs while soft skills and people management skills are acquired mostly through experience.

How many years of experience do I need to be a project manager?

You need at least 2-3 years of experience in a related field to take up the role of a project manager. This requirement can vary according to the company and type of project.

What are the best project management courses?

Executive MBA in Project Management, Project Management Professional (PMP) certification, Associate in Project Management (APM) certification, Certified Associate in Project Management (CAPM), Agile Certified Practitioner (ACP) certification, PRINCE2 Foundation/PRINCE2 Practitioner certification, etc are some of the best project management courses available.

What is a PMP certification?

The Project Management Professional (PMP)® is the world's leading project management certification awarded by the Project Management Institute (PMI). PMP certifies a candidate's skills and competencies required to lead a project.