Project management is in demand across a variety of industries, and that's why there's a demand for project managers. In today's world, regardless of the industry, the project management field has numerous applications.
2. Importance of project management
Project management is in demand across a variety of industries, and that's
why there's a demand for project managers. In today's world, regardless of
the industry, the project management field has numerous applications.- Why?
Companies today are facing fierce competition. They must be able to tackle
global threats. In addition, they must address external or internal problems
without delay. In order to meet these issues, companies require an organized
approach to manage, plan, and organize as well as manage resources (as well
as the internal resources) to provide rapid results.
3. Project management career – Fact &
Figures
Project management has become a sought-after job path in the present era. A
report published by PMI on job growth projected that projects would increase
by 1 to 6 million jobs within the next ten years.
Companies are looking for skilled project managers but there's a huge gap
between the number of people with this skill and the available jobs. So
opportunities are wide open for those in need of employment.
By 2027, there'll be a need of filling over 87.7 million Project Management
Professional (PMP) roles. This will be a huge job opportunity in the future,
including manufacturing & construction, information services & publishing,
finance & insurance, and many other sectors.
4. Why project management is
important?
Value addition to the organization on hiring a project manager:
We have seen explosive expansion and globalization over the last decades. Rapid
technological advancements as well as external and internal environmental shifts,
international competition different requirements for products and services, as well as
the new expectations from more educated users and customers than they did before.
These are just some of the things that businesses encounter frequently in the current
business.If an organization isn't able to respond in a timely manner to the changes
that are occurring, then it places itself at a chance of being in danger.
5. What does Project Manager do?
Let's go along following bullets to understand more about PM's role and
responsibilities:
Project managers plan and schedule projects. They have a clear understanding of
what needs to be done in order to move forward on the plans they've made.
We manage our project resources including people while keeping costs to a
minimum.
Helping people management is an important aspect of a Project Manager's job.
Because Project Managers deal with lots of people. They leave no opportunity to
encourage and handhold their project teams and they ensure that their team's
efforts should not go unrewarded in the end.
6. Project managers control cost overrun. They communicate with their stakeholders and communicate when
there is any budget variance so that they can plan accordingly to avoid last-minute surprises.
They maintain quality. They make sure that project outcomes meet the needs of stakeholders including end
customers and users.
They get to work in different challenging environments, and they learn along the way. They do something
new with each project and they will keep their knowledge and experience as organizational assets.
Project managers are responsible for implementing and deploying changes. They take the onus of making
certain that the necessary changes have been made until they get incorporated into a standardized process.
7. Why become a Project Manager?
PM professionals love to maintain a healthy and green lifestyle. With the demand
of skilled PM workers, they can provide many opportunities.
PM professionals are benefiting from the challenges that come with managing
projects. As per “Project Management Salary Survey – 10th Edition”, the annual
salary of a PM Professional in the USA is 120K US Dollars and in India is between
25K and 26K US Dollars. The report also mentions increased salaries for PM
professionals in recent years
People management: If you are good at managing people and earning their buy-in,
then this profile suits you well. PMs are good at managing stakeholders with
various types of leadership styles and generating consensus in meetings.
8. Project Managers act as risk managers. They help organizations to identify
potential risks while carrying out a new project. They oversee all the
possibilities of risk occurrences. And plan to combat these risks well in
advance using their risk management skills. This way they reduce the chances
of project failures to a great extent.
Get trained for CEO level: The responsibility and exposure of a project
manager & a CEO are very much alike. Because they both manage people.
They both are focused on financial outcomes. They both take leadership at
times to achieve goals. They both set direction toward goals and
communicate to the team their expectations. Hence, we can consider that
the PM role is a kind of training for professional success.
9. Why get a certified project manager?
Most of the professionals leading to the PM career path have preconceived beliefs. That is,
"PMP certification is not important for pursuing a PM career."
Let me explain that PMP certification is a certification for the PM professionals' suite. The
PMP certification ensures competence and understanding that are in line with the needs for
PM essentials. The capabilities of PMs who are certified PMPs allow them to aid in the
development of the company's plans by executing projects according to plans, schedules and
budgets. Effectively implemented and implemented PM principles can enable an organization
to gain competitive advantages.
Many companies require PMP certification as a key criterion for hiring PMs.PMI is a PMP
certification and is a globally accepted certification.PMI provides the following PM-related
certifications: