According to a survey conducted by the PMI (Project management Institute), businesses across the globe would require almost 87.7 professionals for project managerial roles by the end of 2027.
With the increasing number of companies realizing the importance of trained and skilled project managers, the demand for these qualified project managers is also increasing. Some of the top training institutes that provide project management training are getting a huge number of enrollments and queries.
Let’s look at some of the stats related to PMP certification that will ensure you that taking a PMP certification training course and getting certified is worth it.
- Almost two-thirds of organizations, that make nearly 68%, in the annual survey conducted by PMI state that they outsourced or hired contract project managers in 2018.
- There are only 58% of organizations that completely understand the merits of project management. This can be a chance for you to leverage your expertise in project management.
- The most important – A PMP certified project manager can earn around 20% higher salaries than non-certified peers.
- The median annual salary of a PMP certified professional is around INR 17,00,000 and may go as high as INR 40,00,000.
These powerful stats are enough to justify going with a PMP certification.
Let us now look at what a project manager is and what are the roles and responsibilities of a Project manager.
What is a Project Manager?
Simply put, a Project Manager leads the project right from the initiation to the successful closure of the project. As a project manager, you play an important role in planning, execution, monitoring, controlling, and closing the project within time constraints. You are responsible for defining the entire scope of the project.
According to a definition given by PMI, a project manager is referred to as an ‘agent of change’. ‘Project Managers are organized, passionate, and goal-oriented who understand what projects have in common, and their strategic role in how organizations succeed, learn, and change.’
Project managers are regarded as agents of change because they make the business goal their own and utilize their expertise and skills to motivate a sense of shared objective within the team.
Project Managers can be found in every type of organization as managers, employees, consultants, or contractors. With the time and experience, they can become program managers or portfolio managers as well.
Roles and Responsibilities of a Project Manager
As a Project Manager, you have to fulfill various responsibilities along with your team. These responsibilities go with every phase of the project lifecycle. The phases of the project management lifecycle include ten knowledge areas which are, integration, cost, time, scope, human resources, quality, communication, stakeholder management, and risk procurement.
Let’s look at the different phases and responsibilities related to those.
- Initiation Phase
- Integration Management: you are required to develop a project charter
- Stakeholder Management: to identify stakeholders
- Planning Phase
- Integration Management: to develop a plan for project management
- Scope Management: to define and manage scope, develop a work breakdown structure(WBS), and gather requirements.
- Cost Management: plan and estimate cost, and determine budgets.
- Time Management: to plan, identify, and create schedules, activities, and to estimate resources as well as activity durations.
- Quality Management: to plan and identify requirements of quality
- Human Resources Management: Plan and identify needs of human resources
- Risk Management: to plan for and identify potential risks, perform a quantitative and qualitative risk analysis, plan strategies for risk mitigation.
- Communication Management: to plan communications.
- Stakeholder Management: to plan for expectations of stakeholders
- Procurement Management: to plan and identify the required procurements
- Integration Management: to direct and manage all project work
- Quality Management: to perform all the aspects of quality management
- Human Resource Management: to select, create and manage the project team
- Procurement Management: to take action regarding necessary security procurements
- Communications Management: to monitor all aspects of communications
- Stakeholder Management: to manage all expectations of stakeholder expectations
- Monitoring and Controlling
- Scope Management: to validate and control the scope of the project
- Cost Management: to control the cost of the project
- Integration Management: to control and monitor the project work and to manage the required changes
- Time Management: to control the scope of the project
- Communications Management: to control the communication between the stakeholders and the team
- Quality Management: to control the quality of deliverables
- Stakeholder Management: to control engagement of stakeholders
- Procurement Management: to control procurement
- Integration Management: to close all the phases of the project
- Procurement Management: to close all procurements of the project
Skills Required to become a Project Manager
Technical know-how is something you should know very well to become an effective project manager. Apart from this technical knowledge, you are also required to have a strategic mindset. Confliction-resolution capabilities, team building, and expertise in change are among the crucial skills required for efficient project management.
Besides these high-level skills, you also require some base-level skills including leadership, capability to motivate team members, problem-solving, and prioritization. Another non-technical or soft skill required to succeed as a project manager is adaptability.
So, precisely these skills are listed below:
- Motivate and respect stakeholders
- The capability of ‘working in the gray’
- Fully involved in the successful completion of the project
- Motivate and identify the important contributions of other team members
- Stress accountability and integrity
- Excellent strategic business partner
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A project management career is a great option if you are already done with managing some small projects. If you have a PMP certification, then it makes you earn 20% higher than those who are non-certified.
To get a PMP certification, you can always register yourself in an online training course to get the benefits of learning at your own convenience. Also, you get trained via instructors who are usually industry experts and make you go through real-life projects so as to gain expertise in project management.
Since a PMP certification is regarded as a gold standard for project managers across the globe, and the PMBOK guide makes you go through the best practices involved in this process, getting one is worth it.