Project management is like balancing and juggling three balls - time, cost, and quality. It is a way of developing structure in a complex project, where the independent variables such as time, cost, resources, and human behavior unify. Managing projects is a core business function that reflects an organization's culture. Sustainable values, balanced emotional intelligence, and agnostic methodologies are keys to successful project management. The key to successful leadership is influence, not authority. In this article by Nikita Duggal at Simplilearn, she explains the significance of leadership in project management.
Why Project Managers Are Vital
Plans are worthless. Planning is essential. Overseeing the efforts of a team and triaging priorities to reach goals alongside time, cost, and quality management of a project is the prime role of a project manager.
What Is the Responsibility of a Project Manager?
Project managers are elemental in shaping and bringing structure to workflows, which is pivotal in planning budget and time. A project manager is responsible and accountable for its outcome and must undertake ownership of all activities through the project life cycle.
Imperative Skills for a Successful Project Manager
Communication
Project managers should describe a project's vision and articulate what every team member needs to accomplish.
Negotiation
As a project manager, you must exhibit exceptional skills to negotiate with all the project stakeholders. Your task is to bring structure into disparate teams working together to achieve a shared goal.
Risk Management
Risk and uncertainty are inherent to all projects. Efficient project managers should use enterprise-level risk management tools to analyze and identify risk and mitigate it.
Team Management
Teamwork can be the most critical skill as a project manager. You need to empower and inspire your team by exhibiting effective leadership with inclusion, collaboration, and integration.
Budget Management
Project budget management is crucial for estimating the resources you need and managing to spend throughout a project.
Problem-Solving
The fundamental purpose of project management is to avoid runaway costs and unjustified expenditures. Companies value project managers that can deliver projects at maximum levels of efficiency. Effective project managers are problem solvers that combine their creative abilities with strong analytical skills to propel success.
Reporting
Project reports provide a bird's-eye view of critical data in a comprehensive format. Project reporting is a baseline requirement for project managers to provide a window for all stakeholders to understand the status and action items required to achieve the project goal.
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