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About Project Management

A Project Manager is responsible for planning, organizing and directing the completion of projects for an organization while ensuring that the projects are handed on time, within budget and within scope.

Who is a Project Manager?

In a corporate organisation, 67% of projects fail due to undermining the need of project management.

A Project Manager is responsible for planning, organizing and directing the completion of projects for an organization while ensuring that the projects are handed on time, within budget and within scope.

“Trying to manage a project without project management is like trying to play a football game without a game plan”

Imagine this -

A Project Manager is assigned to oversee your tasks at home and school? Your chores and studies would be done within a deadline!

Project Managers are called ‘Agents of Change’ as they use their own skills and expertise to influence a sense of shared purpose within a team. They adapt their working style and approach according to the demands of the various projects and its requirements. (Just like agents of shield)

What will your functions be as a Project Manager?

  • Defining the scope of the project
  • Staying on schedule
  • Planning a project’s cost and sticking to a budget
  • Managing project resources (including teams and workers)
  • Documenting the progress of the project
  • Communicating with stakeholders
  • Assessing risks
  • Troubleshooting
  • Leading quality assurance

All said and done, what is the scope of Project Management?

According to a study in 2021, in the next 10 years, India alone will have a demand for more than 70 lakh project managers, so you can imagine its scope around the world!

Related Departments

Business Management 33334 Students Shortlisted

Top Colleges

Well, this one’s special. Most institutes in India,  are offering many courses in Project Management. But there’s a catch! It’s all for post graduation! 

These Masters and Certification courses are highly specialized and short-term courses that offer core knowledge about Project Management along with industry exposure and real-time applications. 

The best part? This is how it is in India, the United States of America, the United Kingdom, and Canada!

Most countries abroad, after a graduate degree such as B.B.A, B.Com(any specialisation), B.Sc.Computer Science or in any field, allow candidates to pursue a Masters degree in Project Management. 

India

Duration: 1 - 2 Years

Fee per course/annum:

Rs.2 - 7 Lakh Per Annum (Only certification courses and MBA available)

USA

Duration: 1 - 2 Years

Fee per course/annum: Rs. 55 - 65 Lakh Per Annum (Certification courses and MBA)

UK

Duration: 1 - 2 Years

Fee per course/annum: Rs.15 - 30 Lakh Per Annum (Certification courses and MBA)

Canada

Duration: 1 - 2 Years

Fee per course/annum: Rs.8 - 13 Lakh Per Annum (Certification courses and MBA)

Career Prospects

Project Coordinator

A project coordinator is the ‘right hand man’ in this ecosystem. Working under the direct supervision of the project manager, the coordinator ensures a project runs smoothly and efficiently.

As a Project Coordinator, you will specialise in project budgeting and funding, and make use of spreadsheets, graphs, and other reporting tools. You will be making routine presentations to the project manager to report on project financials.

Along with this, the project coordinator as an ‘Agent of Change’, also works as a Risk Analyst and takes care of budgeting when there are any unforeseen expenses or any shortfalls.

What’s more? Project coordinators are also responsible for strategising, coordinating and attending meetings.

Key responsibilities of a project coordinator include:

  • Evaluating and solving potential problems during projects
  • Appointing and managing a team from scheduling to assigning goals.
  • Coordinating team members to keep workflow on track
  • Managing project-related paperwork
  • Preparing and reviewing project proposals

Project Manager

A project manager is the Judge and the Jury in this ecosystem!

They plan and execute projects to help organizations develop new products, improve processes, build structures, and complete other initiatives. They also supervise project coordinators and project schedulers.

However, if the company is larger in size, for example - Google and Facebook, a project manager may report to a Senior Project Manager. (Enter, the Executioner!)

But much like a guiden, a project manager helps a team through a project while ensuring everything is aligned in order to fulfil the required goals.

The role of project manager is quite versatile and can be applied in a variety of industries, including construction, healthcare, software development, finance, government, and IT

Some of the core tasks of the Project Manager include:

  • Supervising assistant project manager, project scheduler, project coordinator, and/or project team lead.
  • Working along with the business analyst and program manager.
  • Coordinating with the HR Department.
  • Making sure that the schedule and budget are in alignment with the project goals.

Senior Project Manager

When you visualise a Senior Project Manager, think of the Penguins of Madagascar!

Rico, Skipper, Kovalski and Private all play a pivotal role in working together as a unit and overseeing different projects!

From working across different strategies, to developing complex products, or leading projects with longer time frames, a Senior Project Manager does it all on a larger scale!

At least 10 years of related experience is required to become a Senior Project Manager. You must have experience in supervising projects end-to-end, demonstrating leadership, strategic planning, organizational skills, time management, communication, and results orientation.

Some functions of a Senior Project Manager include -

  • Developing project plans
  • Identifying resource and budgetary needs
  • Providing feedback and updates on projects
  • Managing deadlines
  • Communicating with vendors and suppliers

Program Manager

A program manager has a long-term vision for how multiple projects serve an overarching business strategy.

Remember George Clooney in Ocean’s 11? An overarching business strategy of a heist, and each of the 11 handling multiple projects under ‘Danny Ocean’!

They supervise a group of projects, and thus, also a group of project managers. The functions that a program manager performs primarily include defining project strategies and project success metrics. Multitasking and people management skills are some soft skills that are highly valued in this role.

Key duties of the program manager include:

  • Strategizing projects that align with business initiatives
  • Supervising project managers
  • Reporting to director of program management

Program Director

The Program Director is like the Black Panther in the Wakanda of Project Management!

Directors are involved in leading and overseeing project managers, and program managers, as well as leading company-wide projects.

They coordinate with internal and external parties, keeping them abreast of projects’ phase of completion.

The great Michael Jordan said, “Talent wins games, but teamwork wins championships”

In this role it is essential to lead and encourage individual project teams.

Motivating managers to reach goals while enforcing the company’s policies and regulations is where the skill of the Director comes into play! 

The director of program management is responsible for:

  • Leading project managers and program managers.
  • Maintaining an understanding of company projects to align them with business goals.
  • Coordinating between internal and external stakeholders.
  • Developing and implementing company policies and regulations.
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Jobs & Salary

The scope of Project Management as a career has been rising through the roof with the digital media boom post the COVID-19 pandemic.

Due to this, there are a wide range of industries that are hiring for project managers -

  • Construction and Engineering
  • Finance and Insurance
  • Healthcare
  • Information Technology
  • Advertising

As a Project Manager in India, the average salary is estimated at Rs.6 Lakh Per Annum, and that is with 2 years of experience. Once you reach the position of a Senior Project Manager, the average salary rises up to Rs.24 Lakh Per Annum.

In the United States of America, the average salary of a Project Manager is Rs.80 Lakh Per Annum. However, that too depends on the experience you have along with which college you’re an Alma Mater of.

Pros & Cons

Pros
  • Minimising Risk
  • Improves Speed
  • Efficient Budget Alignment
  • Resource Management
  • Improved Decision Making
Cons
  • Cost
  • Extra Time in Administrative Tasks
  • Multitasking
  • Creative Fatigue

Famous Personalities

Bob Sutton

Robert Sutton is Professor of Management Science and Engineering at Stanford, where he co-founded the Stanford Technology Ventures Program and the Institute of Design. He has published over 200 articles in academic and popular outlets, along with seven books.

Susanne Madsen

Susanne Madsen has been building a successful career for the past 17 years leading large change projects of up to $30 million for organisations such as Standard Bank, Citigroup and JP Morgan Chase.

Robyn Reynolds

Robyn Reynolds is a Digital Project Manager with over 7 years experience in the industry producing websites, digital experiences, social media, and more. Her professional project management experience has led her to develop expertise in the athletic, tech, quick service restaurant and entertainment industries.

Timeline

Before 1958 The Manhattan Project, Polaris Project, and Interstate Highway System were developed through extensive product and project management in Construction.

1958 - 1979 The Space Program and Apollo and ARPANET were developed.

1980 - 1994 The English-France Channel Tunnel and Challenger Investigation were defining projects in the span of 15 years.

1995 - Present Y2K, The Panama Canal Expansion occurred and the Large Hadron Collider were made.

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