The making of the Pyramid Giza was a project. As you can see, project-based work existed since the time of ancient Egypt. It is an effort that takes place to create and change a product or service. The process includes Taking the project from initiation to completion. Monitoring its progress, while satisfying stakeholders within set constraints.
Bain & Company declared in their research that, by 2027, most work will become project-based. Doesn’t matter which industry you’re in. Project management is often used in industries such as engineering. Information technology and even the healthcare industry.
In this article, we’ll discuss the Important areas project managers should take care of, and the traits all great project managers have. We’ll also discuss the growing interest in project-based work, and what popular companies have achieved with it. Now let’s jump into the important areas a project manager should focus on.
This area is for the project manager to understand the scoop of the project, divide necessary resources, and structure the activities. As well as defining the sequence and relation between activities and assessing the duration.
Here project managers can use various project management tools, and tactics. Work breakdown structure is one of those useful tools. This is used to break down complex activities into smaller tasks. Moving forward a project manager should use scheduling as a tool to execute tasks.
Estimating the cost, and developing a budget is the next important aspect a project manager should focus on. This involves forecasting the cost of all resources, and equipment needed to carry out the project. Accurate cost estimation, and budgeting help to ensure that the project stays within the financial limitation. It’s also important to update, and review the budget so that it remains accurate, and relevant to the project’s end goals.
After the planning phase, a project manager should also focus on motivating the team and organizing the project team, and to do that the project team needs to establish an environment of openness, set S.M.A.R.T goals, be clear about them, and reassure them that their ability is being trusted. Knowing the difference between punishing a failure, and responding to them. A great project manager should be able to figure out a way to take failures as an example to inspire them, rather than punish them.
The next critical aspect of project management is controlling time management. A project manager should focus on controlling the time management of the project. The project manager should be able to assess and divide the time needed to close the project.
Monitoring the progress is just as important as planning, and executing. This helps identify issues early and establish solutions before it becomes a complicated mess.
Analyzing, and managing the risk of the project is another important focus area for a project manager. Analyzing risk involves the assessment of how the project outcome and end goal may change and be affected because of the risk event. After identifying the risks, further analysis can be done to measure the qualitative, and the quantitative effect on the project. So that necessary steps can be taken to proactively cut down or mitigate the impact of risk on the project outcome.
Managing the necessary report, and documentation is important to ensure effective communication and collaboration is achieved. It’s a very critical aspect of managing a project. These documents help to provide accountability and transparency. Which provides empowering communication, and collaboration. Updating these reports also helps to ensure project progress and outcome as well.
Ensuring customer satisfaction is another very important aspect a project manager should look after. Seeking necessary feedback from customers, and making necessary adjustments according to feedback. To improve customer satisfaction, the project manager should keep the client’s perspectives in mind. They should be able to recognize when changes need to be made. Project managers need to be proactive in gathering feedback, and maintaining them. Having a well-planned process for this continuous improvement will aid the project managers to increase customer satisfaction. Which will enable them to build long-lasting business relationships with clients.
No matter what industry your business is located in a project manager is someone you need to manage your business operations. Let’s talk about some of the most essential traits you should look for in a project manager.
Successful project management requires effective leadership skills. So that the project manager who is overseeing your project can lead the team from the start to the closing of the project efficiently. Being a great leader means being someone who can motivate your team, and have them deliver great results and performance. They should also be able asses, the strength, and weaknesses of the team members. So that they can motivate, and guide them in the right direction. As well as effectively close projects.
Leaders are also great communicators, and a project manager is someone who will be overseeing your project from start to finish. The success of the project depends a lot on this individual. Without swift communication skills, chances are they might make a mess out of your project. So before going in for the hire, communication is one of the skills that you should assess.
Project managers with utmost efficiency have a strong organizational sense. This allows them to manage schedules, utilize resources, and focus on tasks. Although organization skill is not a by-born skill. So when you are hiring entry-level project managers you should groom them properly.
In general project managers should be good at problem-solving. As while leading a project they will be the ones to face a variety of problems, including the problem of the team members. So being great at problem-solving means being great at managing projects and team members.
Your project managers should be highly adaptable. When projects grow complex, project managers will face difficulties and changes. So being adaptable, allows them to align and react, and take action when according to the situation.
A must-have skill all project managers should have. Being able to assign the right task to the right person at the right time is a skill that is crucial for leading a successful project. Being effective at delegation increases the success rate of your project. This means your project manager should be able to access the skill of the team members. This also requires trusting the capability of the teammates so that the project rolls out in the most efficient way possible.
The ability to track the progress of your project while also leading it aligning with the set constraints, also ensuring stakeholders’ satisfaction is something that requires great attention to detail, and while hiring one you test out these abilities.
Project managers are not only leaders, they are also great team builders. Managing and building a team is also a responsibility a great project manager should have. To lead the project toward a successful closing, your project manager needs to be able to keep enthusiasm, motivation, and fun alive among the team members.
If your project managers are not enthusiastic about what they do chances are your projects led by them will deliver poor quality. As they are also responsible to keep the whole team motivated, and they need to be self-motivated and enthusiastic to keep the passion alive. Enthusiastic project managers turn your project team into a symphony of their own. That’s how they deliver great results with team effort and burning enthusiasm.
As we have already mentioned above, the popularity of project management is growing exponentially. As business processes and operations are becoming increasingly complex, to pull these off businesses are adopting project-based work. So, the demand for good, and efficient project managers is growing rapidly. From construction, and engineering to advertising and marketing, almost every industry has started accepting project-based work.
Every industry is experiencing an increase in the demand for great project managers as project-based work continues to expand. Now there are several reasons behind this increased interest. One of them is agility and flexibility. As all the human function in the world is getting faster, being elegant in execution has become just as important. Increasing flexibility and planning allows businesses to react better to market changes and customer needs. As well as aligning business strategies, and coping with technological advancement.
Other than that Project management increases accountability and visibility in work. Monitoring, and controlling are also enhanced in project-based work. Competition and limited resources require more accurate, efficient, and quick measurements to bring positive changes.
Now if you still have the question about why you should hire project managers and adopt to project-based work for your business? Let’s take a peek at what great project management can achieve, and how popular companies in the world have succeeded.
A project manager with the above skills overseeing your project can
Now here are some examples of what these popular companies of the world have achieved with project-based work.
NASA uses formal project management methodologies, risk management techniques, and detailed project plans. This aims to ensure successful completion as these projects are challenging and highly complex.
They hold the reputation of the most agile project management system with quick execution, and faster iteration. This makes sure continuous improvement with collaboration, which promotes innovation.
A well-known name in the automotive industry. Also well-known for its rigorous project management practices. Which is a set principle that focuses on delivering quality while maximizing efficiency and reducing waste.
The eCommerce giant is best known for their result-driven project management methods. That allowed them to become the most adaptable company that can quickly react, and adapt to changes in the market, and customer needs.
They have a well-established project management framework. Which is called Microsoft solution framework (MFS). That allows the delivery of software projects within a strict budget and time.
Now that you know how project-based work can help your business to reach its utmost potential. At Polygon Technology you can hire from the large pull of pre-screened world-class project managers at your disposal.
Streamline your business using the Polygon Technology team-as-a-service with dedicated Project managers. Delegate your tech to us, and focus on getting your business to the next level with technological transformation.