A Brief Look into How Project Management Works, and Why You Should Care

Project Management is one of the most highly regarded professions in the world today. A project is a one off, comprising of a unique set of operations put together to achieve specific goals.

Every project needs a Project Manager. A focussed, passionate, dynamic and goal-oriented leader who can provide direction and a shared sense of purpose among the team. A project manager – goes without saying – is closely associated with the project and constantly monitors progress based on 4 parameters: schedule, budget, deliverables and resources.

In essence, what schedule means is, ‘how far along are we now, and far along should we have been by now’. Budget addresses the costs of a project – to monitor whether expenses are laid out as planned or going over budget. Deliverables of a project focus on the final outcome itself, the end result. Lastly, resources focus on the people who have been assigned to the team, their tasks, and the various tools and materials involved in completing the project.

Needless to say, a project must be closely monitored by the project manager. Here’s a good way to go about it:

• Set a time for each day where you go over reports. Ensure that the date in the reports is in real time.
• You need your facts and figures. Make the most of a project management software (77% of successful projects have used one) to get a clear representation of the data you have gathered through your reports.
• Measure the data against your projects to evaluate actual progress. Accordingly, you realign your metrics to ensure the project is delivered on time and within budget.

Tools aside, a good project manager will possess qualities such as attention to detail, foresight and ability to execute. Especially the third attribute, ability to execute, is highly sought after. Statistically, the biggest reason projects fail is because of a poorly trained project manager. At a time when the importance of the project manager is ever-increasing, that simply cannot be the case. Here’s an overwhelming stat for you: only 2.5% of projects (out of 10,000+ evaluated) were completed successfully on time and within budget.

The need for a capable project manager is greater than ever. This clearly shows in the kind of salary that the average project manager draws.

The average project manager in the USA draws over $90,000 a year. A majority of American states pay over $70,000 (on average) for an entry level manager with less than two years of experience. Most American states pay between $90,000 to $100,000 for a mid-level project manager. A senior level project manager’s salary can go over $120,000 in some states.

A raw evaluation reveals New Jersey is one of the brightest prospects for a project manager of any level.

Sollers offers a Project Management Program that trains students to plan and execute every step of the life cycle of a project. Additionally, students at Sollers will be ready to sit the PMP Certification exam upon successful completion of this course.

Interested in Sollers’  Project Management Works ? Get in touch with us at [email protected] or (908) 416-1230.