A project manager is inevitable when you have several projects running at the same time. One possibility is hiring a freelance project manager who will oversee the project while you can concentrate on other tasks. If you find a good project manager, the ROI on the fee you pay him can be extremely high. But how to choose a good freelance project manager? In this article we will review what is project management, why we need it and how to define a good project manager.
What Is a Project?
A planned work which is expected to be finished by a definite time and intended to achieve a unique result or goalwith in the allocated budget. In short, a project is a temporary (with specific start and end dates at any time) which is undertaken by performing organization to create a unique product, service or a result.
How Projects Are Identified?
- Business need.
- Environment or Social need.
- To meet business strategy. Business Strategies are achieved through one or more projects.
- Market demand to have a new product or a service.
- Regulatory requirements by government agencies.
- Advancement of technology.
- Customer Request.
Projects vs Operations
- Work done by an organization or team can be of two categories. Run the existing Business (processes) with normal and defined business activities. Change or create or mature the Business by starting new projects.
- We perform work; either as “Operations “or “Projects”.
- Projects are the way we get things done.
- Projects are initiated for an unique purpose.
- Projects are often implemented for achieving an organization’s strategic goal(s), which are critical for the organization’s growth. For example: Developing a new product or a service. Developing a policy change, staffing, or style of an organization. Developing a new or enhancing an existing system. Implementing a new business procedure or a process.
- Operations are the ongoing execution of activities and they follow an organization’s procedures to produce the same result or a repetitive service
- Operations do not produce new things, but they are necessary to maintain and sustain the system
- Production, manufacturing, and accounting are examples of operations
How Do We Manage a Project?
“Projects” are undertaken to fulfill the organizational objectives by
producing deliverables that create value and benefits the organization. Project focuses on:
- Scope (the deliverables on which work has to be done by the project team)
- Time (how long will it take to complete?)
- Budget (how much would be the investment into the project?)
- Risks (what are the uncertainties that affect the project deliverables?)
- Quality (what quality standards to be followed?)
- Resources (What kind and mix of resources (human and machinery) are required to complete the project objectives?)
Who Is a Project Manager?
- A project manager is responsible for leading the project from its inception until closure.
- Different stages of the Project that a Project Manager leads are: initiation (recommended), planning, execution of the plan, monitoring the project progress and controlling any deviation arises until the project is closed.
- Managing all the resources in the project and expectations of the customer(s).
- Project Managers ensuresthat each project remains in line with the company’s strategic goals and delivers expected value
- Project Manager is accountable for the project success or failure
Roles and Responsibilities of The Project Manager
- Leads the project team to meet the project’s objectives and stakeholders’ expectations
- Focuses consistentlyon both project objectives and the business benefits
- Works towards balancing the competing constraints on the project with the available resources
- Shares regular updates on the project progress with the customer, team members, and other stakeholders and provides direction by communicating with them as per the stakeholders’ expectations
- Uses leadership & soft skills to balance the conflicting and competing goals of the project stakeholders in order to achieve consensus
- Stays connected with the current industry trends
- Shares knowledge, learnings, best practiceswith othersand also to the organizational knowledge base
What Is Project Management?
Project management is the way a person organizes and manages resources that are necessary to complete the project work by using the tools and techniques on the project requirements.
Project management is the practice of implementing the processes during different phases of the project with the team, as appropriate, to achieve defined goals and meet the acceptance criteria at the agreed upon time and budget.
The primary challenge of project management is to achieve all of the project objectives by managing the constraints.
Why Project Management?
Effective and efficient project management should be considered as a strategic competency for any organization. It enables organizations to:
- Tie project results with business goals o Compete more effectively in their markets
- Sustain the organization
- Respond to the impact of business environment changes on projects by appropriately and effectively adjusting project plans
- Can support the sales strategy
Project Lifecycle
In the coming chapters you will learn more about project life cycle and how does these different phases of project’s lifecycle support in delivering a successful project.
Initiation ➢ Planning ➢ Execution ➢ Monitor and Control ➢ Closure.