Project managers are the point person in charge of a specific project, or projects, within an organization. Project managers need to be detailed to keep their projects on schedule.
Project managers are responsible for planning, budgeting, monitoring and reporting on the project with project management tools. The project manager is the bridge between upper management and the teams tasked with the actual execution of the project. They make sure the scope of the project is sound, reporting regularly on the progress of the project and ensuring it is staying on schedule.
1. Planning Project Resources
The project manager’s first role is making a feasible plan that achieves the goals and objectives of the project and aligns with the organization’s overall business strategy. This is not only a blueprint for managing the project but also a critical part of the effort to get approval for the project. Part of the plan is defining the project’s scope and determining what resources are available, estimating time and financial commitment, as well as how to monitor and report on the project’s progress.
2. Budget Management
Nothing is going to get done without money. Figuring out what the proper funding for the project is, having that get accepted, and then keeping the project within or under budget is often what makes or breaks a project. You can get your stakeholder their deliverables on time, but if that costs more than the budget you created, the project is a failure. Making an accurate estimate is only the first part. Next, you must monitor the actual spend as compared to the planned budget. If those figures are off, you must adjust accordingly.
3. Time Management & Monitoring
Time is always ticking towards the project deadline. While communication is key to addressing changes and making sure everyone is doing what they need to do when they need to do it, the project manager must also define, schedule and accurately estimate the task duration to develop and maintain a realistic schedule.
To make sure a project is progressing as planned, you must constantly measure it and compare those metrics against the plan you created. Therefore, you must have a way to collect project data, such as status reports from your team, to see if the actual progress of the project is meeting what you had initially planned. Things are going to change along the way, and you’re going to have to adjust or reallocate resources to accommodate these changes.
By continually monitoring this you are managing and mitigating your risks. A risk is a potential problem, that might or might not occur. Regardless, you must monitor and manage your risks and build contingency plans to keep the project on track.
The Details Matter
The difference between a good project manager and a great project manager is how they handle the details of planning, budgeting and monitoring. A skilled project manager will have systems and strategies in place to ensure success for the stakeholders.
Project Management From ASB Resources
We offer a combination of services including best-in-class project management consulting services, and a certified project management training curriculum. Let’s talk and figure out what is the best project management option for your business’ needs.