Project managers are some of today’s most influential business professionals. Their skills and passion help businesses run smoothly, removing friction from a variety of processes and departments. Organizations increasingly find that with skilled project managers at the helm, a project-based approach to everyday operations can pay dividends. This is known as the project economy and, according to the Project Management Institute (PMI), this approach “deliver[s] financial and societal value.”
Project managers are integral to shaping the project economy of tomorrow, and this new mindset calls for project management skills among professionals of all types. These abilities are worth honing even if you have no intention of taking on the title of project manager, as these skills are now considered essential across the board. Should you decide to pursue a career in project management, you’ll enjoy a bright future in one of the fastest-growing professions.
How Project Management Skills Enhance Managerial Roles
Project management skills are highly comprehensive but can be boiled down as blending structure and reliability with the pursuit of agility and innovation. This unique mix allows project managers to drive impressive and reliable results. Similarly, other types of managers may find that by adopting these complementary emphases, they can transform their teams and departments while maintaining strong, dependable workflows.
What Skills Are Needed for Project Management?
There is a great deal of overlap between skills deemed relevant to project management and those utilized by other types of managers. It is not the skills themselves that make the difference, but rather, how these are combined and leveraged to drive results in an agile and often iterative fashion. Perhaps you’re wondering what skills are needed for project management. We’ve identified a few of the most vital below:
Planning and Organizing
Project managers are master planners. They need to be, as their projects won’t run on autopilot. Rather, they are tasked with determining which resources and strategies are needed to drive progress. It takes careful delegation and resource allocation to ensure that complex projects are completed on time and under budget. This planning incorporates risk management, allowing project managers to reveal when or whether problems might arise and if so, how they will be avoided or mitigated.
A comprehensive approach to planning can prove valuable in many other areas. Managers of all types must plan for contingencies, regardless of their level of authority or kinds of responsibilities. As developments arise, they are better equipped to leverage their critical thinking and problem-solving skills to make the best decisions for the present situation. Time management is also a must, especially as project managers juggle such a wide array of demanding and competing tasks.
Communication
Project managers interact extensively with a variety of team members, executives and stakeholders. They need to keep their messaging short and sweet, but adaptations may be required based on who they are communicating with and under which circumstances. Effective communication also involves active listening, allowing project managers to acknowledge and make the most of many perspectives.
Project managers build structure into these communication efforts, relying on regular check-ins to ensure open and honest communication without resorting to micromanaging. A proactive approach can be valuable across many areas of the business world, as team members thrive when they are kept informed and encouraged to practice autonomy within the scope of their jobs. Such an arrangement is only possible if expectations are properly communicated and resources allocated.
Risk Management
Every project involves some element of risk, but as we’ve mentioned, these can be minimized or avoided altogether if they are understood and analyzed. Aspiring project managers must be thoroughly familiar with the steps of the risk management process:
- Identify
- Assign ownership
- Analyze
- Prioritize
- Respond
- Monitor
Many project managers can choose to specialize in risk management, but leaders across all industries can benefit from adopting a risk-oriented mindset. A risk-oriented mindset means bringing a more purposeful approach to revealing and dealing with risks, rather than assuming such issues will work themselves out. Project managers (and project-inspired managers) are always prepared to tackle new situations as they arise.
Budgeting and Financial Management
While project managers are tasked with completing projects within short time frames and according to strict specifications, they must also juggle limited budgets. Monetary concerns extend beyond project management, of course; many types of leaders are forced to do more with less. Hence, the relevance of budgeting across all areas of management, ranging from marketing and healthcare management to financial services.
Critical skills include financial analysis, budget auditing, forecasting and database management. Project managers must understand the theoretical basis of these practices and should be able to apply them to resolve various budgeting and finance concerns. Meanwhile, budget issues must be balanced against other project priorities, such as scope and timeline.
Team Leadership
Project managers oversee vast teams of talented professionals. Their guidance can help teams thrive, but they must navigate the fine line between providing support and avoiding micromanaging. Communication is crucial, of course, but leadership skills like delegation allow managers to divide key tasks more effectively among the individuals best equipped to carry them out.
Quality Management
No matter the budget or the timeline, projects must achieve a high level of quality. PM4DEV defines quality as “the totality of characteristics of an entity that bear on its ability to satisfy stated or implied needs.” Should deliverables fail to meet the stated goals, the project can be accurately referred to as lacking in quality, a concept that also applies to operations and other elements of management. There is always a strong need to meet the needs of the client or consumer. Quality management involves:
- The selection of parameters attached to a particular project or initiative.
- The full spectrum of strategies used to meet key goals.
- Ensuring a high standard of quality is achieved across all phases.
How to Develop and Improve Project Management Skills
Now that you know which skills are most valued in project managers, it’s time to create a plan for how to develop project management skills. Also important: understanding how to improve project management skills over time so you continue to learn and grow as a professional. Key strategies for boosting your project management skillset include:
Get a Formal Education
Many graduate programs provide in-depth skill development that is directly relevant to project management. A master’s in project management is worth considering, but a broad-based program may be the best solution for gaining the skills needed for project management as well as the many complementary qualities that drive career flexibility.
One of the best options is a master’s in management, a graduate-level degree that emphasizes comprehensive skill development while providing plenty of opportunities for practicing and applying those skills. With a strong emphasis on project manager skills, this dynamic program delves into organizational planning, business ethics and many other relevant concepts.
Take Project Management Certifications and Online Courses
In addition to pursuing a graduate-level education, you can expand your learning by getting involved in project management certification programs. Your eligibility for many top certifications will depend on your degrees and work experience, so you may need to earn a relevant degree and complete an internship (or find an entry-level job) before you’re able to secure your preferred certification.
- Project Management Professional (PMP). Offered by the respected Project Management Institute (PMI), the PMP certification is one of the most trusted and well-recognized credentials in the project management space. PMI also offers many certifications that delve into compelling project management niches, such as risk management.
- Certified Associate in Project Management (CAPM). If you lack experience but feel you could benefit from certification, the CAPM may be your best bet. Also offered through the PMI, this is a great option for getting a leg up in project management.
- Certified ScrumMaster®. Emphasizing agile project management strategies, the ScrumMaster® certification provides a valuable framework for driving a new level of innovation in project management. This is an increasingly valued credential as more organizations shift towards agile and iterative approaches to project management.
Utilize Project Management Software
While graduate-level projects will likely call for exposure to top project management software solutions, it may be worth your while to explore these at your own pace. The more comfortable you feel with these programs, the better prepared you’ll be to hit the ground running as you incorporate them into key project management tasks. Essentials worth exploring include:
- Microsoft Project
- Trello
- Asana
- Jira
Begin your exploration by getting comfortable with the user interface. From there, you can determine how key functions can help facilitate your everyday responsibilities as a project manager. When possible, build these into every day studying processes or other components of your MS Management coursework.
Gain Hands-On Project Management Experience
Volunteer opportunities can provide a wealth of experience while allowing you to give back to your community. Many organizations desperately need guidance and insight from skilled project managers and will happily welcome your input. Hands-on learning opportunities may be available through targeted internships, which have also been known to sometimes open the door to entry-level project management positions.
Join Professional Associations and Network
Networking is essential for all types of management professionals, and project management is no exception. Opportunities abound for graduate students, who are exposed to the best and brightest instructors and advisors and get to build strong relationships with their fellow students — tomorrow’s most impactful business professionals.
Professional associations can provide valuable networking opportunities as well, including the chance to interact with similarly ambitious or passionate project managers. Associations worth joining include:
- Project Management Institute
- International Project Management Association
- Scrum Alliance
The Role of a Master’s in Management Program
Whether you aspire to a career in project management or hope to pursue other leadership opportunities, the Master of Science in Management (MSM) can help you develop the comprehensive skill set you need to thrive in the professional world. You will emerge with a powerful set of leadership skills to make your mark as a project manager. Reach out to learn more or to apply today.
