Project Management is a created structure that controls the project and its activities to produce the right product or services for the customers’ expectation.
Introduction To Project Management.
Project management focuses on projects through some main processes – from planning to organizing projects and their resources. This includes formulating the project team and efficiently guiding the team through all the management stages till completion. There are five stages of the project life cycle;
- Initiating.
- Planning.
- Executing.
- Monitoring/controlling.
- Closing.
How Do Project Managers Take Their Training?
Project management is a flexible field that allows individuals to take on their training either Online or Onsite.
Career Path In Project Management.
To become a project manager, there’s no specialized degree course in the field. However, there are certain related tertiary fields (4 years of bachelor’s degree) that you could go into to pursue your career in project management. These fields include;
- Business Management.
- Business Administration.
Nonetheless, Project Management requires generally gained real-world knowledge through training and practical job experiences. Also, going through the available training for this field, there are two major skill-set you should make sure to acquire along the way. These include;
- Knowledge Of Project Management Principles And Practices.
- Knowledge Of A Domain To Apply It To.
What Are The Qualifications Required To Work As A Project Manager?
To become a project manager by profession, there are certain qualifications you need to possess to get a job. As earlier said, you need to have either a minimum of 4 years of bachelor’s degree/ HND certificate in any related tertiary field to project management.
Professional Levels In Project Management.
Like every other field, there are professional levels in project management. These levels include;
- Entry-level.
- Project manager.
- Senior project manager.
- Director of project management.
- VP of operations, COO.
Without further ado, let’s quickly look into these levels;
Entry-level: As a beginner who is just starting in this field, be assured you will first spend some time at this level. However, there are certain positions at this level. Like;
- Junior Project Manager.
- Assistant Project Manager.
- Project Coordinator, etc.
Project Manager: After launching fully into your profession as a project manager, your core duties are;
- Helping organizations improve processes.
- Building structures.
- Developing new products, etc.
As a project manager, you must direct a team through a project and make sure communication, planning, budget, etc are equal.
Senior Project Manager: For senior project managers, the main duties are;
- Help execute projects with larger scopes.
- Lead projects with a longer time frame.
- Develop complex projects, etc.
However, to become a senior project manager, you must have several years of experience in this field, as well as gain much knowledge of project management through coursework or certification.
Director of project management: For this level, it is mainly for supervising and overseeing business projects and ensuring projects align with the goal of the organization. They manage larger projects and interact with top leaders of the organization.
However, to become a director of project management, you need ample experience and exceptional leadership qualities.
VP of Operations/COO: VP/COO is a high-ranking business leader who implements new strategies across businesses. To become a Vice President of Operations or COO, you need to have extensive experience building and managing teams.
However, an MBA may also help you learn the business skills to succeed at this level.
Average Salary At Each Level In Project Management.
Entry-level – The average US salary for every position under the entry-level;
- Project coordinator: $53,561
- Assistant project manager: $75,523
- Associate project manager: $68,969
- Junior project manager: $64,756
Project Manager -The average US salary for every position under the project manager level.
- Project manager: $88,907
- IT project manager: $104,126
- Technical project manager: $108,337
- Construction project manager: $89,474
- Health care project manager: $86,604
Senior Project Manager -The average US salary for a senior project manager is $119,754.
Director Of Project Management -The average US salary for the Director of a project manager is $140,465.
VP Of Operations/ COO -The average US salary for a VP/COO;
- Vice President of operations: $148,283
- Chief Operating Officer: $158,826
However, these salaries may vary depending on the organization you are working with.
What Is The Work Type In Project Management?
Project managers could either work Online or On-site (Hybrid). Also, project managers spend an average of 8-9 hours at work planning, brainstorming, planning, and implementing ideas into products.
The Occupational Hazards In This Field.
There are certain risks in this field that you need to know and plan on how to avoid as an effective project manager. These risks include;
- Technology risk.
- Communication risk.
- Operational risk.
- Skill resource risk.
- Cost risk.
- Scope creep risk.
What Are The Suitable Talents For This Field?
There are certain suitable talents for project managers. These talents include;
- Risk Management.
- Collaboration.
- Critical Thinking and problem-solving.
- Time management.
- Communication.
- Technical expert.
- Leadership.
What Is The Average Retirement Age In Project Management Field?
The average retirement age for professionals in this field is the traditional retirement age of 65-70 years of age.
Popular Professionals In This Field.
- Elizabeth Harrin. The founder of the well-known project management website the Girls’ Guide to PM,
- Susanne Madsen. The author of several books on project management and leadership.
How Relevant Is Project Management?
Project management is a high-demand profession. According to the Project Management Institute (PMI), it is estimated that the global economy will need 25 million new project professionals by 2030. Therefore, project management is highly relevant.
What Are The Related Fields To Project Management?
- Engineering.
- Software Engineering. (Made a post for you on this, read it here; https://hustlewiki.com/software-engineering-career-path/).
- Marketing. (Made a post for you on this, read it here; https://hustlewiki.com/marketing/).
- Management consulting.
Branches Of Project Management.
- Risk management.
- Communication management.
- Quality management.
- Time management.
- Cost management.
