Project Management Archives | Elmhurst University https://www.elmhurst.edu/blog/category/business-and-management/project-management/ Wed, 23 Oct 2024 21:41:47 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://www.elmhurst.edu/wp-content/uploads/2017/11/ec-fabicon-150x150.png Project Management Archives | Elmhurst University https://www.elmhurst.edu/blog/category/business-and-management/project-management/ 32 32 Prioritizing People in Project Management https://www.elmhurst.edu/blog/prioritizing-people-in-project-management/ Wed, 23 Oct 2024 15:40:21 +0000 https://www.elmhurst.edu/?p=56673 “Plan the work, and work the plan.” That is the historical mantra of project management. Let’s start by assessing what project managers do, as well as understand the purpose behind […]

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“Plan the work, and work the plan.”

That is the historical mantra of project management. Let’s start by assessing what project managers do, as well as understand the purpose behind project management. Project management is a great way to organize tasks and get things done. At the initiation phase, system requirements are determined through careful analysis. In the planning phase, options for meeting those requirements are considered, and one or more are chosen. In the execution phase they are implemented, perhaps with multiple stages of deployment, with monitoring and control to ensure success as the work gets completed. At closure of the project, an after-action review should be held to capture lessons learned and end the work. Then the process is repeated on the next project. Throughout this process, it is project managers who keep things moving along.

People-Centered Project Management

It sounds simple and straight-forward, and sometimes it is. However, Murphy’s law often prevails and things can go wrong. When they do, it’s important to adapt the plan and keep going. Like a show, the work must go on. Unfortunately, that assumes a mechanistic mindset which encourages your project team and those they are serving to just continue working like robots, no matter what. Since they are not robots, how do projects ever get done? Enter project managers.

The key to successful project management is to prioritize people at the center of the plan, rather than the work being delivered. Before, during and after the project work is done, the project manager must communicate with all the stakeholders of the project, working with their employees and all the other partners to get the work done “on time and under budget.” This is both an art and a science that when accomplished, shows a sign of successful project managers. This concept can be seen through some experiences I’ve had in the field, both related to a project implementing a new unified communications system within the customer service call centers of a large financial service company.

Cause and Effect: Project Managers Identify Issues to Find Solutions

I was in charge of change management for the project, collaborating with a team of technicians, business analysts and project managers. As a project team, we worked with the leaders of the call centers to implement the new communications system. For the first meeting with the leaders of one call center, we were set up in a very large conference room (more like a dance hall) with tables and chairs placed in a U-shape. Each leg of the U was about 20 feet long. When people arrived, the call center leaders sat on one side of the room, and the project team on the other side, with the central part of the table left mostly empty. After nearly shouting to each other for the first few minutes, I asked if we could rearrange the furniture. All parties agreed, eliminating the tables that weren’t being used, and moving the others so there were two rows of tables facing each other about six feet apart. Even though each team sat on their respective side of the table, the dynamic changed immediately. People were able to talk in normal voices and connect with each other to begin the task at hand.

Collecting Feedback and Changing Dynamics through Project Management  

The story continues when we completed the implementation in the call centers. The goal of the system was to make information more easily accessible for sales, support staff and the call center representatives, so they would be able to help customers faster. This was generally understood by the senior leadership of each of the call centers, but not necessarily by middle managers, and definitely not by the call center representatives and their immediate supervisors. All the latter knew was that their work was being disrupted by the use of a new system, and that it was slower and harder to use. As a result, call center representative satisfaction with the new system, as measured by survey a few weeks after implementation, was only about 70%.

At the post-implementation debriefing with the leaders of one call center, we realized there was a gap in what the customer-facing representatives understood, and that needed to be resolved. One of the project managers and I developed a set of talking points for front-line managers to use with their teams in weekly team meetings for several weeks before the new system was installed. In these meeting notes, we told the managers (and through them the teams) what the IT team was doing to prepare for the implementation at that time, and how that work might affect them. Each week, we added some additional information about the upcoming new system, and some of the benefits it would provide them. Thus, by the time the system was installed, the team was prepared for it, understood why it was being installed and how it would help them and their customers. Unsurprisingly, the call center satisfaction with the new system when surveyed under this implementation method rose to over 90%. The system itself did not change; only the way we presented it to the call center representatives who would use it.  We just needed to focus on the people who would actually use the system, and show them how it met their needs.

Coming Full Circle  

In summary, project managers plan the work, work the plan and prioritize the people who are doing the work in that plan. They keep the project on task and bring project management into a process that otherwise could be riddled with chaos and confusion. Taking this approach will lead your projects to an ultimately successful end.

To learn more about the Project Management Master’s Degree at Elmhurst University and what it can do for you and your career goals, visit our website.

 

 

 

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What is the PMP Exam? https://www.elmhurst.edu/blog/what-is-pmp-exam/ Tue, 07 Sep 2021 15:29:08 +0000 https://www.elmhurst.edu/?p=38834 The PMP exam is a lengthy and comprehensive test to become certified by the Project Management Institute (PMI) as a project manager. It’s the best way to make sure you’ll […]

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The PMP exam is a lengthy and comprehensive test to become certified by the Project Management Institute (PMI) as a project manager. It’s the best way to make sure you’ll meet industrywide standards when you start your project management career.

Getting the PMP certification also makes you an attractive candidate for potential employers. The median salary for PMP holders in the U.S. is 25% higher than for those without the certification, according to the institute.

But acing this exam isn’t a cakewalk.

“The PMP has changed significantly this year. It is based on the seventh edition of the Project Management Body of Knowledge (2021) and includes a lot of questions on Agile project management,” says Dr. Bruce Fischer, director of the Master of Project Management program at Elmhurst University.

According to the institute, two out of five people fail on their first attempt. Successful test-takers put in an average of 35 hours prepping for the nearly four-hour exam.

Fortunately, after you are approved to take the exam, you have a year—and up to three attempts—to pass it.

How to Apply for the PMP Exam

To be eligible to take the exam, you’ll need to document your experience and credentials. For people who hold a four-year degree (or higher), that means three years of leading projects and 35 hours of project management training.

For folks with a high school diploma or an associate’s degree, it means five years of experience leading projects and 35 hours of project management training.

For your application, document where you have worked, your responsibilities and the projects you’ve completed—as well as the courses you’ve taken.

If your application is accepted, you’ll register for the test. Note: The cost is $405 for PMI members and $555 for nonmembers.

You can take the test online or at a testing center.

What’s on the PMP Exam?

The PMI recently updated its test to focus on three areas crucial to project management success:

  • People: The soft skills you’ll need to manage and communicate with your team.
  • Process: The technical aspects of managing a project.
  • Business environment: The broader implications of how project management fits into organizational strategy.

Each domain of the test includes content that covers a range of approaches to project delivery, including predictive, agile and hybrid.

And you can expect a variety of question formats: multiple choice, multiple response, matching, hotspot and even a few fill-in-the-blank.

How to Prepare for the PMP Exam

There’s some peace of mind in knowing that you’ll be in good company even if you don’t pass on your first try. But if you can shore up your chances for immediate success, why not do it?

First, think through a plan. Writing it out can help. When will you study, and where?

Flashcards are a great learning tool when you’re on your own. Or, if you work best when you’re bouncing ideas off of others, check with a local PMI chapter about finding a study group. Meanwhile, practice exams are available online. Take a reputable one to see where you stand.

You might also want to invest in some study guides. “A Guide to the Project Management Body of Knowledge” is a fundamental resource for project management. It covers development approaches, tools and techniques, project outcomes and deliverables. Projectmanagement.com offers community discussions and blog posts devoted to exam prep. And, of course, you can find numerous exam-prep books to purchase.

If you’ve earned a degree in project management or certificate in project management, your college may offer review courses, which often are free of charge.

Become PMP® Ready at Elmhurst University

Become the one who gets it done. Elmhurst University offers a flexible Master of Project Management program that gives you the tools to succeed on the PMP exam.

Complete the form below to learn more today!

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How to Craft a Project Manager Resume https://www.elmhurst.edu/blog/project-manager-resume/ Tue, 09 Feb 2021 13:00:55 +0000 https://www.elmhurst.edu/?p=35564 The good news if you are looking for a job in project management is that project managers are critical to an organization’s success, so their skills are highly sought after. […]

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The good news if you are looking for a job in project management is that project managers are critical to an organization’s success, so their skills are highly sought after. Opportunities exist in fields from construction to information technology and commerce to finance.

It can be tricky, though, to convey those intangible qualities that describe a project manager—organized, focused, patient, methodological, flexible—on a sheet of paper.

As you put your project management resume together, keep in mind that there are best practices, but no hard-and-fast rules. Your goal is simply to communicate your value to a prospective employer.

Before you start writing, you may want to jot down some potential bullet points to include. Brainstorm through your past experiences for:

  • Specific projects you have managed
  • Your methodology
  • Programs in which you are proficient
  • Degrees, training and certifications
  • Technical skills you possess
  • Metrics you’ve met: budgets, cost savings, deliverables, deadlines

General Project Manager Resume Tips

First, the basics: Everything on your resume should be grammatical and spelled correctly. Use the same verb tense throughout. Choose a clean font. And stick to one or two pages.

Next, decide on sections.

Including a summary at the top (under your name and contact information, of course) is a popular choice.

The summary introduces you to the person you hope will be offering you a job. It’s different from an “objective,” in that the focus is not on what you want, but what you bring to the table for the company. State your title (or the title you are seeking) and industry specialty, and then summarize your strengths and assets.

For specific achievements or competencies, you might choose to make a catchall category—call it key achievements or core competencies—to gather those quantifiables together. Assign a metric or outcome to each of your job duties whenever you can. Use dollar amounts when you mention the budget. Include the number of people on your team. Say exactly by how long you came in under deadline.

This is also the time to address the Applicant Tracking System that nearly all employers use to move a select group on to Round 2.

The ATS scans resumes for relevant keywords, with the idea that that is an efficient way to skim the applicants who are best suited for the job. But how do you know what keywords the ATS will look for? The best way is to study the job posting itself. If a skill is mentioned in the job description, and you possess that skill, mention it in your resume.

Examples of Quality Keywords

Every position, company and industry is different, so relevant keywords can vary widely. However, there are some common terms that pop up often:

  • Analysis
  • Budgeting
  • Client communication
  • Deadlines
  • Outcomes
  • Project lifestyle
  • Risk management
  • Specification

The professional experience section—the one most job-seekers are most familiar with—is usually written chronologically, with your most recent position at the top. Include the name and location of the company, your title, the dates you worked there, and your responsibilities. An easy format to follow is strong verb + job duty + outcome.
List any certifications you possess, plus the degrees you have earned and the schools you attended.

And one last thing before you send that resume off: Find a fresh set of eyes—a friend or family member—to proofread it one more time.

Earn the Degree to Reach Your Goal

Finally, don’t leave off your educational background and project management certifications. Continuing education in project management is highly valued. Almost a third of jobs prefer or require a graduate degree, such as a master’s degree in project management, in addition to Project Management Professional certification.

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Program Management vs. Project Management: What’s the Difference? https://www.elmhurst.edu/blog/program-management-vs-project-management/ Tue, 17 Nov 2020 21:59:09 +0000 https://www.elmhurst.edu/?p=33789 Project management vs Program management. They sound similar, and they are complementary. But the roles are distinct, with different responsibilities and processes. Let’s begin with a tight lens and work […]

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Project management vs Program management. They sound similar, and they are complementary. But the roles are distinct, with different responsibilities and processes.

Let’s begin with a tight lens and work our way out:

Of the two, project management is much narrower in scope, focusing on day-to-day tasks at the micro level. Project management has a definite timeline, with a defined outcome that determines the end date.

The project manager oversees teams responsible for fulfilling the project and achieving its deliverables. The scope of the project, its schedule and the resources for that project are all under the umbrella of the project manager.

It’s a more tactical role, and sometimes a more technical one, than program management. The focus is on the operational elements of a project. Project goals are normally short-term.

The key trifecta—and balancing act—of the project manager is time, budget and quality. So if the project must be speeded up, budget or quality may need to be sacrificed; that decision is the burden of the project manager. Likewise, if the budget is cut, the timeline may be pushed out, or, again, quality may be sacrificed. It’s the project manager’s job to constantly weigh those three forces.

The project manager focuses on how to meet the deadline, come in under budget and minimize risk, all while maximizing quality.

In a sense, project managers are like labor-and-delivery nurses: They are there for a crucial, but limited period of time, with very concrete goals. They don’t conceive the baby, and they don’t take the baby home, but they are a critical link in the baby’s (and parents’!) life.

To continue the analogy, program managers are more like new parents. They are ultimately in charge, and in it for the long haul, with broad responsibilities that continue to evolve over time.

How Program Managers Operate

Program managers must be strategic in their thinking, especially since they often need to negotiate between different organizations—and sometimes multiple projects—that are interacting because of the program.

The program manager sets the vision, which is especially important when he or she is overseeing several projects at once. Each project is a cog in the wheel to keep the program rolling.

The program manager acts as the big-picture person, the one responsible for the flow charts, the “if this piece moves, these other pieces will be affected” person. Since the program manager focuses on strategy and implementation, he or she does a lot of delegating. Picking good leaders is important for program managers.

In the most boiled-down way, project management and program management can be divided like this:

Program Management vs. Project Management [Comparison]

Program ManagementProject Management
• Broader in scope; emphasis is on the big picture.• Narrower in scope, taking you deep into the weeds.
• Deals with overarching goals or fulfilling the mission of the business.• Involves a clearly defined end product or deliverable.
• Ongoing (evolves over time).• Balances time, effort and finances to arrive at the best quality on deadline and under budget.
• Can contain multiple projects running at once.• Has a definite end date (one segment of the overall program).
• Focus is on the “what.”• Focus is on the “how.”

Considering a Career in Project Management vs Program Management?

With a master’s in project management from Elmhurst University, you’ll learn to reach across disciplines and functions, speaking everyone’s language, to coordinate the team. We’ll teach you the tools and techniques you need to oversee a project: budgeting and monitoring, communications and team building, risk management and decision making.

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5 Key Concepts to Agile Project Management https://www.elmhurst.edu/blog/agile-project-management/ Tue, 08 Sep 2020 19:12:08 +0000 https://www.elmhurst.edu/?p=32988 Agility can be a huge asset for a team—and not just in sports. When it comes to project management, the agile methodology means that products often get to market faster […]

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Agility can be a huge asset for a team—and not just in sports. When it comes to project management, the agile methodology means that products often get to market faster and meet with more success than with more traditional approaches.

But what is agile project management? How does that mindset achieve the ultimate goal of any project—on-time, on-budget delivery of a quality product? Consider these five key concepts:

1. Adaptability

Project paths rarely line up in a linear way; they’re incremental. The iterative approach to the entire life cycle of a project means on-the-go adjustments. One advantage of this approach is that benefits are delivered throughout the timeline of the project, not all at once at the end. That pays off not just for the customer, but for the team’s morale and confidence.

Alternately, if the process takes a turn for the worse, you find out more quickly and can change course rather than slogging through to an unsatisfactory conclusion. The software industry originally embraced this sort of adaptability, in the 1990s, when many software development projects imploded—or simply took too long to complete. Industry leaders knew they needed an approach other than aiming at a target and hoping the target doesn’t move.

With agile, you zoom out to start, looking through a wide lens, and then adapt as you learn about new conditions and parameters. You home in on the target incrementally, break requirements down into pieces, and then prioritize them.

2. Efficiency

In a related way, anyone working on the agile project management team—as well as the client or customer—is empowered to identify and respond to changing requirements or goals at that moment so that the product ultimately hits the market faster. Given these conditions, agile project management has been described as continuous sprints, where planning and execution happen in ongoing waves.

Exhausting? Maybe for some. Granted, the plan does not have a firm structure, and it’s possible to lose sight of the big picture. But continuously improving means you’re more likely to have a satisfied customer and a project that falls within time and budget constraints.

3. Collaboration

In agile project management, all parties are empowered to contribute to the end goal. Collaboration builds trust and accountability and helps ensure that one faulty idea won’t go unchallenged, potentially derailing the entire process.

The bottom line: A diversity of ideas, at its best, promotes continuous improvement. And because of the adaptability of the methodology (see key concept No. 1), ideas are quickly tested and can be rejected early through the feedback loop, saving time (key concept No. 2) and money.

4. Disruption

Disruption for disruption’s sake isn’t worth much. But challenging the traditional culture to improve customer satisfaction and deliver better value is what has made agile project management the methodology of choice for many kinds of companies.

Becoming agile means change: changing culture, changing priorities, changing goals. And that can be hard. But with all stakeholders on board, managing actually becomes easier. Expectations evolve, norms get shaken up and in the end—you deliver.

5. Simplicity

Finally, from the “Manifesto for Agile Software Development”: Simplicity is essential.

We’ll leave it at that.

Considering a Career in Project Management?

With a master’s in project management from Elmhurst University, you’ll learn to reach across disciplines and functions, speaking everyone’s language, to coordinate the team. We’ll teach you the tools and techniques you need to oversee a project: budgeting and monitoring, communications and team building, risk management and decision making.

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What Is the Critical Path in Project Management? https://www.elmhurst.edu/blog/critical-path-in-project-management/ Tue, 07 Jan 2020 13:00:35 +0000 https://www.elmhurst.edu/?p=26721 If you have ever estimated how long it will take to finish a project—say, putting together a bake sale for your kids’ school—then you have created a critical path. A […]

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If you have ever estimated how long it will take to finish a project—say, putting together a bake sale for your kids’ school—then you have created a critical path. A rough critical path, but a critical path nonetheless.

The critical path in project management, which is a key tenet of project management theory, is the order of scheduled tasks that determines the duration of the project. In our bake sale example, it might include buying ingredients, baking cookies and brownies, boxing up the treats, setting up tables and determining prices.

Critical path analysis is used in numerous fields, from construction and engineering to software development and research. Basically, any project with interdependent elements can benefit from critical path analysis.

How Do You Calculate the Critical Path?

If you’re new to a field or a certain type of project within your field, determining completion length can be daunting. Never fear, though. Experts are almost always happy to share their experience-informed advice. And it never hurts to make some lists:

  1. First, jot down every task that needs to be completed, beginning to end.
  2. Calculate the duration of each task. This is when you will want to tap your network for reliable estimates.
  3. Take note of task dependencies. That means marking all the tasks that can’t be started unless the ones before it are finished. You can’t put a roof on a house unless the walls are up. But you can begin sewing a wedding veil before the dress is complete—so that’s not a dependency.
  4. Create a list of milestones or major phases. This technique can help keep you on track. Ingredients for bake sale purchased? Check. Cupcakes out of the oven? Check. Price tags written and signage secured? Check and check.

What is ‘Float’ in Project Management?

To determine when you must start a project in order to meet the deadline, calculate the duration and subtract it from the latest possible finish date—your final, no-excuses deadline. That gives you your latest start date. On the flip side, to figure out the earliest possible finish, add the project duration to the earliest date you are able to start.

Subtract the latest finish from the earliest finish and you have your “total float,” or the wiggle room available to delay any particular task without upsetting your project schedule. There is also “free float,” or the window you have to complete an individual task without it upsetting the next task that needs to be done.

Be aware, though, that a wrench in any individual task can throw off the entire project schedule. If the grocery store is out of flour, for example, making cookies for the bake sale will be delayed until you can get to another store. Unless you are willing to shuffle. Maybe you flip the order of what you are making and stick with Rice Krispies treats until you can get some flour. Maybe you ask someone else to bake with you to make up for lost time.

You can never anticipate every wrinkle that might come up during your project, but thinking through possible solutions can help you navigate whatever pops up. Maybe you’ll have to allocate additional resources or run certain tasks simultaneously.

The bottom line: A critical path is not static. It can be changed, and often must be.

A critical path lets you see where your efforts cannot be compromised and how your efficiencies can be maximized, ultimately leading to happy customers and repeat business.

Earn Your Master of Project Management Degree

At Elmhurst University, we help you develop a set of core competencies, including how to calculate the critical path in project management, so you can deliver projects on time, on budget and to specification—in a wide range of fields and occupations. Learn more about our Master of Project Management degree and learn to lead in a collaborative world.

Request more information today!

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5 Project Management Skills to Advance Your Career https://www.elmhurst.edu/blog/project-management-skills/ Wed, 09 Jan 2019 15:00:44 +0000 https://www.elmhurst.edu/?p=23764 Project management skills are a Swiss Army knife kind of career. To be successful, you need certain project management skills and you need them at the ready—everything from technical, business […]

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Project management skills are a Swiss Army knife kind of career. To be successful, you need certain project management skills and you need them at the ready—everything from technical, business and management competencies to soft skills, such as creating and maintaining strong relationships.

Project managers need the knowledge, the experience and even the personality traits to do not one job, but several—and simultaneously. With the help of their team, they mold an idea from its inception and through its planning, scheduling, execution and completion.

As the point person, the project manager gets to celebrate every success, but also must answer for—and take lessons from—any failures. So, how to increase those successes and learn from the failures? We’ve boiled it down to five essential project management skills every manager needs:

1. Leadership

It’s first for a reason. Among the countless attributes that make a good project manager, the list starts and ends with strong leadership.

But leadership can be a vague term. What are the qualities of a good leader?

  • A provider of direction, vision and sound judgment
  • Someone who motivates, mediates and mentors others—but without micromanaging
  • The voice of calm amid the pressure, who takes responsibility for missteps but shares every achievement

2. Communication

It can be another overused term, but a project is destined to stall without clear, consistent communication between stakeholders, contractors, team members and customers. Scheduling and negotiating are tough tasks made easier through clear communication.

Successful project managers ensure all information is accurate, clarify for understanding and follow up when needed. Using communication methods ranging from emails, file sharing and conference calls to in-person meetings and presentations, project managers have to determine the most effective approach, keeping everyone in the loop without burdening people with excessive details.

3. Task Management

The big picture is crucial, but it’s the details that can make or break a project. Effective project managers create a schedule, then break it down into a manageable timeline of tasks. They create a budget and then oversee resources and purchases to keep costs under control.

The project itself may be months or years long, but a results-oriented project manager will have clearly stated goals and objectives to be met along the way to bring the project in on time and within budget.

4. Diplomacy

Of all the variables within a project, people are the most unpredictable. Conflicts will inevitably arise, especially during negotiating. Resolving disputes and easing tension so that all players feel they have been heard helps maintain a positive, productive atmosphere.

High-quality project managers are negotiators and collaborators. They understand the strengths and weaknesses of their team and delegate accordingly. They know when to say no but are never afraid to say yes. Soft skills are especially at play here: maintaining trust, keeping an open mind and old-fashioned listening.

5. Critical Thinking

As a counterpoint to those more subjective qualities, project managers also have to analyze and evaluate situations to make unbiased, impartial decisions. They entertain other points of view to examine problems in new ways. They foresee roadblocks and brainstorm solutions.

Project managers are dynamic individuals who can evolve with the times and experiment with new tools and technologies. They think in opportunities instead of barriers. And they are decisive, weighing the best choice based on the stated priorities and goals.

Master of Project Management

Elmhurst University can help you develop these essential project management skills with its master of project management program. The part-time, flexible format allows for both online and on-campus learning. Lectures are recorded so you can fit your studies into your schedule and not the other way around, and the 10-course program can be completed in as little as two years.

Interested In Getting Started?

Complete our form to request more information!

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What is Project Management? [Infographic] https://www.elmhurst.edu/blog/what-is-project-management/ Fri, 21 Dec 2018 15:00:03 +0000 https://www.elmhurst.edu/?p=23772 Jump to the Project Management Skills Infographic Project managers (PMs) have a number of responsibilities. This also means they need a well-rounded collection of abilities to excel in the job. […]

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  • Jump to the Project Management Skills Infographic
  • Project managers (PMs) have a number of responsibilities. This also means they need a well-rounded collection of abilities to excel in the job.

    The key to answering the question “What is project management?” is understanding what these skills are and how PMs apply them to the projects they are tasked with successfully completing.

    Here, we examine five essential skills that any prospective project manager should master:

    1. Communication

    Project managers are only as effective as their communication skills. They lead teams and need to motivate, as well as delegate and monitor deadlines. Communication is crucial in each of those duties.

    2. Organization

    Projects usually come with sprawling plans, and it’s up to project managers to keep everything in order. Being organized is a highly prized skill in PMs, as it shows their ability to manage big tasks.

    Let’s also take a step back and consider the question “What is a project?” The Project Management Institute defines it as “a temporary endeavor undertaken to create a unique product, service or result.” Keep in mind that everyday operations usually don’t qualify as projects. You’ll be relying heavily on organization techniques as you tackle new initiatives and tread new ground.

    3. Accountability

    The buck stops with the project manager. Holding themselves, employees and stakeholders accountable is a central duty of PMs, who need to set the example in the interests of guiding projects to success. You will likely get to know the Gantt chart as you build up this skill, as well as other tools that help manage project deadlines.

    4. Critical thinking

    Project managers encounter obstacles all the time. It’s the nature of the job; and this requires them to think critically. Being creative in devising solutions is a key trait of an effective PM.

    5. Cost management

    Controlling the costs of a project is often a challenge, as well as a central responsibility of project managers. PMs need to know how to balance and run budgets, as well as plan financially for the long term.

    What is project management? This infographic shows five skills that help define the field.

    What is Project Management?

    Every organization needs reliable managers who can take responsibility for a project’s success. Using the principles of project management, these managers create processes that empower their teams to deliver projects on time, on budget and to specification—in a wide range of fields and occupations.

    The right educational program can help you master those principles—and the skills described in the infographic above.

    Elmhurst University’s project management program satisfies the Project Management Institute’s (PMI) educational requirement necessary to be eligible to take the PMP® exam. An optional PMP® review course is available to graduates of the program free of charge.

    Request more information about Elmhurst University.

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