Project Management Complete Guide 2024

Introduction

What Is Project Management? Types of Project Management and Best Project Management Skills

Project management is the process of doing a project by using various tools. It includes project planning, project controlling, organizing, and involving the various things required for doing the project.

It is a systematic process of conducting a project and getting the required results. This particular concept is used in engineering and software industries, but nowadays, one can find a project management department in every company.

Project management is a sector that is required in every field. These managers are responsible for maintaining the project and getting it done before the deadline. Who are all included in the project management team? There are project managers and other dignitaries that one can find in the project management department. But what exactly is the need of the project management team? Why does a company need a project management team?

There are various companies that are working just fine without any project managers. That's the issue, the companies are working just fine without project managers and not perfect.

A project manager has the capability of bringing useful contracts for projects from various clients, which can help the company in growing to a peak level. Not only this, a company benefits if they appoint a project management team in their industries. All of these are discussed in the sections below.

Importance of Project Management Team

The first question that comes to mind after hearing "project management" is "What is the need for project management?" Project management and its team are needed in every company. The project management team has the job of creating a product that will bring some kind of change or benefit to the company.

The project management department helps the companies in getting good projects from the customers. In addition to that, it helps the organization in selecting projects which have justification and have fewer chances of failure.

Project management has been the need of the hour for the last few years. It is the team or department which helps the company to complete a project in a systematic way, which provides the client with utter satisfaction and the company with more benefits.

There are various methodologies included in project management, applying in a systematic manner in which one can get positive results. However, not all projects require formal management. How to know if a project requires management? Below are some tips for knowing whether the projects require formal management.

• A project which is new or had some alterations in its process.
• A project with a definite deadline.
• A project which is too complex to work on, even in groups.
• A project which requires risk management.
• A project which has requires management of changes.
• Projects which do not have much budget.
• Projects which can bring new technologies or change in the market.
• Projects which are too risky and need expert handling.

Apart from all these types of projects, one can even apply the methodologies of project management in normal project practice.

Types of Project Management

There are several types of project management that one can find. Various types of project management methods have been developed for years. Here are the top 3 project management methodologies that one can still find in many companies.

Waterfall Project Management

The waterfall project management methodology is also known as the traditional form of project management. In this particular method, the team proceeds to complete one task, after which they proceed to another task.
Here, the steps of the project are linear in nature and are in one direction only, hence the name waterfall. Moreover, in this particular method, the size of the team increases as bigger tasks come into the scene.

Agile Project Management 

The next project management methodology which we have on the list is agile project management. In the Agile methodology, there is continuous monitoring and improvement of the tasks. Here, the tasks are divided into various groups and are monitored by the project management. This allows the team to complete the project faster and improve the output on the way.

Lean Project Management

The lean project management methodology is more focused on avoiding waste in the project. In this method, the team focuses on avoiding any kind of resources and also time. Moreover, this particular project management methodology is adapted from Japanese practicing practices and is adopted by various companies.
These were some of the project management methods that we can find in the industries in recent times. Apart from these, there are other types of project management technologies too, which are made by combining two or more types of methodologies.

Skills Required in Project Management

Only getting a certificate in a project management course is not enough. A person should also have certain skills to get a job in this field. Some of the essential skills are stated below.

Planning: It is one of the most important skills in the field of project management. Without proper planning, no project could succeed. A person who is aiming to have a career in the field of project management needs to have good planning skills.  

It also includes dividing the whole plan into several steps and then assigning each team an individual task. Proper planning skills can help the team in getting the desired results. Moreover, the project manager has to dictate the scope and the objectives of the project at the beginning so that the team would get to know the genre of the project.

Not only team planning but even individual planning is essential as it would help the person in getting the work done in less time span.

Leadership: The next skill that a project manager should have is leadership. Now, there is a lot of difference between a leader and a boss. To become a leader, one has to get involved with the tea. A person should always motivate the team and help them rather than bossing away with the tasks.

A leader is a person who takes up the responsibilities of the team and the mistakes that occur while doing a project. A good leader will help the team in walking on the guided path and completing the project before the deadline. It is important that a person should have leadership skills to get into the genre of project management.

Communication: What is project management without communication? A person who is in the field of project management is continuously required to communicate with various authorities regarding the projects. It is the duty of the project manager to convince the authorities to sign the papers regarding the projects and give them regular updates about the team and the rate of success.

A project manager is responsible for answering the stakeholders and the clients about the projects and has to provide daily updates and go to meetings. A person with good communication skills can easily do all of these.

To be in a project management team, a person has to interact with hundreds of people in a day while on a project. Not only that, during the time of interacting, the project manager also has to keep a check on the project teams and notice or eliminate risks and clarify doubts.

A good multi-tasker can be a good project manager with multiple projects and still produce good results.

Process Of Project Management

There are various types of project management, as stated above. There is the waterfall technique, lean project management, and many more.
However, there is a certain process of project management that acts as a rough draft, based upon which the whole methodology is designed. Here is the basic process of project management, which one can find in every methodology.

Research, Discovery & Planning

The first step in every project management methodology is to research the project. If a company is taking on a project without doing any kind of research, then they are taking high risks.

In this step, the various objectives, scope, and justification of the project are researched. After enough research is done on the project, the project management team moves on to discover it. No project comes with zero risks, so one needs to discover the potential risks that come along with the project.

There are two types of risks: low-degree risk and high-degree risk. In low-degree risks, the risk can be suppressed as it will not cause any kind of harm to the project. However, the high-degree risks are the risks that one needs to eliminate as they cannot be ignored or suppressed. By eliminating the high-degree risks, the team is eliminating a major amount of cons that come with the project.

After the discovery part is over, the team proceeds to plan. In the planning part, the whole team decides the steps which should be followed to complete the project. Moreover, the objectives of the project are written down, based on which the steps are then planned.

In this section, the team even decides the types of tasks that need to be done and the various alternatives that can be used to get better results in a short time. After that, the whole project is then divided into various teams.

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Executing

After the planning part is over, the execution of the plan takes place. Executing is the implementation of the whole plan in a step-by-step process in the practical field.
The tasks are divided into various parts and employees are assigned tasks to complete within the time limit.
The execution of the plan is one of the most difficult parts, as it requires a practical application. Though a person can write down the plan on a piece of paper, it takes a lot of time to practically apply the plan. During the execution of the plan, one gets to know the various problems that occur during practical application.

Testing, Measuring & Iterating

The next step which a project management team needs to follow is project testing. After successful execution, one needs to test whether the end product is providing satisfactory results or not.
Testing is the method of seeing whether the project is successful or not. After the testing is done, the measuring and the iterating steps come into view. In these two steps, the project management team verifies the whole project and looks for loopholes and any type of mistakes that might be present.
If there is any kind of loopholes or mistakes, the team rectifies them and retests. This particular step is done before the deadline to rectify it before submission to the client.
Moreover, it allows the team to look for more additions or removals to extra resources so that they can make in the project. A process of project management in which the various methodologies of project management systems are done. While some follow the linear method or the parallel method.
Each method of project management is unique, and people usually tend to mix up the methods based on the project requirements.

Benefits Of Project Management System

Most companies have the question, what is the benefit of having a project management system? A company can explore multiple benefits if they install project management methodologies in their office.

A company with a project management team tends to succeed at a higher rate than a company that does not. Below are the benefits that the company can get by installing project management methodologies in their office.

Teams Efficiency

The first benefit that a company can get by applying the methodologies of project management is an increase in the efficiency of the team members. The project management system tends to increase the rate of efficiency of the employees by assigning them tasks that they can do.

With this process, the confidence of the team members increases which results in an increase in the rate of efficiency.

Stress-Free Environment

A company that has a project management team has employees who are stress-free. The reason is that the project management team handles the projects and divides them.

As it is a systematic process, one does not have to take any kind of stress to complete the project. Companies that lack a project management methodology deal with stress due to no systematic management to complete the project.

Employees in such an environment are under the constant stress of completing the project, which later forces them to quit the job.

Team Growth & Development

The team which follows the project management system can grow in a secure environment. There are more chances of team members' growth in an office that has a project management system in it.

A project management methodology helps a company to manage the team and know about the employee qualities.

The project management team helps in decision-making on whether to take on new tasks for employee growth. A company that allows growth for its workers is a company where a person would like to work.

Quality of Work

Project management helps the company in producing results that are of esteemed quality. By using various methods of project management, a company tends to provide its clients with better outputs.

Project management systems help the company in doing work with a nice process, which not only increases the efficiency of the workers but also helps in improving product quality. This further helps in getting more clients to the company.

Flexibility in the Team

With the help of a project management system, it is flexible with various project types as per the client's needs. With a proper project management system, the company can do tons of projects of various genres.

By installing various project management methodologies, one becomes how to handle these projects without much trouble. For all the projects, the company follows a specific type of methodology which avoids any kind of confusion and further creates team flexibility.

There are various types of project management systems with benefits that the company can choose while installing. It is Agile, Scrum, Lean, and much more. Each methodology is unique and comes with its own set of company benefits that suits best for their company.

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Project Manager Roles & Responsibilities

A project manager is a person who is appointed to be the head of a project and assigns the team various tasks. Below are some of the tasks and responsibilities of the project manager, which are quite common in every industry type.

• Project Budgeting
• Agile methodologies
• Changing the management methodologies as per the project requirements
• Process-based methods
• Plan and define project scope
• Assigning project tasks
• Dividing the whole plan into various segments
• Document project in a written format
• Getting approval from the authorities
• Team regular updates
• Daily updates for the company and clients
• Crafting project process
• Monitor project status
• Analyzing the potential risks
• Eliminating and suppressing the various risks
• Strategic influencing
• Communicating with team members and stakeholders
• Taking team responsibilities
• Tasks management
• Hold the meetings
• Handle various projects
• Convincing the client about the projects
• Selecting the best project for the company

The main tasks of a project manager are stated above, whereas other tasks vary from project to project. Project Management is a growing field and according to the latest salary survey reports from PMI, project professionals are one of the high paid in the market.

How to Become a Project Manager?

There are various ways by which one can become a project manager; the first step is to take a certification course. One can start with the CAPM certification course, which is the basic course provided by the PMI. This course gives basic knowledge about project management and one can join a project management team.

Suggested Training for Mid-Level Professionals:

CAPM® Certified Associate Project Management Certification Course

PRINCE2® Foundation

PRINCE2® Practitioner

However, there are other courses too. One of the most preferred courses for beginners is the PRINCE2 Certification. This course has 3 levels, the beginner’s level, the practitioner, and the professional level. In each stage, the student is taught the various forms of project management that they can apply to the project.

Suggested Training - PRINCE2® Foundation Practitioner

Other courses include CSM (Certified Scrum Master) which is a 2-day course and helps the person in becoming a Scrum Master.

However, the ultimate course in the field of project management is the PMP (Project Management Professional), which is too difficult. A certificate in the beginner's course requires at least 5 years of experience in the field of project management, and one should have done at least 3500 hours of projects. There are other eligibility criteria, too, and it is one of the most difficult courses in the field of project management.

Get PMP Certification Training - Online, Live Online and Classroom Training

Professionals with PMP, a globally recognized certification, can get job opportunities globally. However, one needs to appear for the PMP exams every 2-3 years to keep their certificates up to date and intact.

As the project management system keeps on expanding and gets more updates, the PMI decided that the project managers should also remain updated. Due to this specific reason, one needs to appear for these exams from time to time.

Conclusion

Project management is one of the most important fields in today's world. Whether it is the retail industry or an IT industry, having a project management team can bring tons of benefits.

It helps the company in successfully getting a project which would benefit the company, and gain fame and reputation. Moreover, a project management team even spares the company from bad projects or projects without a strong base.

Moreover, project management has been in the market for many years. A company with a good project management team is a company that can excel in the future.

What next after PMP Certification? - Get PgMP Certification with PgMP® Exam Prep training. Sprintzeal offers training for project management courses like PMP, CAPM, PRINCE2, and others. We are a REP (Registered Education Provider) of PMI, the governing body for project management certifications.

To get full details about the best project management certifications, chat with course expert.

Suggested Read – Best Project Management Certifications in 2020