Project managers plan and coordinate projects, from inception to delivery; managing resources, budget and people to achieve a desired outcome Show
As a project manager, you'll need to track work to be completed, set deadlines and delegate tasks to your project team, identifying any potential risks. Ultimately, you're responsible for completing the project work in line with the plan and will often report progress to senior managers. You could also be known as:
Types of workYou can specialise, or work across a variety of sectors such as:
ResponsibilitiesAs a project manager, you'll need to:
Salary
Income figures are intended as a guide only. Working hoursYou can expect to work normal business hours Monday to Friday, but this will vary for each sector. You may be expected to work additional hours to meet deadlines and paid overtime is unlikely. Working hours will vary if you are working freelance, and short-term contracts for the duration of specific projects are available. What to expect
QualificationsYou can get into project management with a degree in any subject. However, studying towards a foundation degree, HND or degree in business or project management will provide practical knowledge about the commercial aspects of projects. Postgraduate study in project management will increase your understanding but is not a pre-requisite to employment. Search for postgraduate courses in project management. Degrees accredited by the Association for Project Management (APM) are listed on their website. As a new graduate, you're unlikely to go straight into project management. Some graduate schemes may start you off in a junior or assistant project manager position, with the opportunity to progress to management as you develop experience. In some sectors, such as IT and engineering, your subject knowledge will be more important than a business or project management degree. You can move into project management from technical roles after gaining experience in a project team or in a supporting administrative role. SkillsYou'll need to have:
Work experienceWork experience in managing resources, costs and people will help you to get into project management. Look for opportunities in supporting roles, such as administrator, coordinator and scheduling positions. From a supporting role, it's possible to undertake professional qualifications to progress into management. Ask your university or search company websites for placement, internship or vacation work opportunities that will enable you to develop project skills. You can also develop project skills by joining extracurricular clubs and societies or by completing a project with an international organisation such as Enactus, Aid Camps International or VSO (Voluntary Service Overseas). You can join a professional body, such as the APM or the PMI, as a student member. This can provide you with opportunities to network with other professionals, keep your skills up to date through training, events, news and publications and point you towards job opportunities. Find out more about the different kinds of work experience and internships that are available. EmployersAs a project manager, you can work in a variety of both public and private organisations, across a range of sectors, including:
In larger organisations, you'll most likely be employed, but in smaller ones it's common to be taken on in a freelance capacity. Some specialist project management consultancy firms have graduate entry schemes. Professional services outsourcing firms also provide project managers for short-term contracts. You're most likely to progress into project management through support or technical roles on project teams. Since much project work is carried out in addition to the core day-to-day activities of a business, you can often work as a freelance project manager on a short-term contract. If you develop a niche area of expertise you may be approached with opportunities. Look for job vacancies at:
Professional developmentTaking professional qualifications before entering a project management role isn't essential, as employers provide training for new recruits. You may be expected to use a product, such as:
And apply a methodology, such as:
You can also gain professional qualifications through the APM (Association for Project Management), PMI (Project Management Institute) and the CMI (Chartered Management Institute). Sector-specific organisations, such as The Chartered Institute for IT (BCS), offer professional qualifications that may be relevant to your area of work. Your employer may provide software training on packages such as Microsoft Project or Open Workbench to help you monitor your projects. Career prospectsYou'll develop transferable skills, which will help you progress either in project management or general management. To help your career prospects, you may want to join a professional body and undertake further qualifications to make sure your skills are up to date. With greater experience in project management, you could progress to the role of programme manager, where you'd be responsible for a team of project managers. As a programme manager, you'd report directly to senior management and work at a strategic level. The next level up consists of project management office (PMO) manager, where you'd focus on ensuring a consistent approach across all project work within the organisation. This role requires strong project-management skills. Alternatively, you could apply your leadership skills and move into senior management roles. Progression within senior management can include positions such as head of department, director or chief executive. What cost types should be estimated in project management?Below, we explore four of the most common cost estimation techniques that you can leverage.. Analogous Estimating. ... . Parametric Estimating. ... . Bottom-Up Estimating. ... . Three-Point Estimating.. What determines the cost of a project?Cost estimation in project management is the process of forecasting the financial and other resources needed to complete a project within a defined scope. Cost estimation accounts for each element required for the project—from materials to labor—and calculates a total amount that determines a project's budget.
Which of the following type of cost is most controllable by the project manager?The three major types of costs are direct, direct overhead, and general and administrative costs. Direct costs are controllable by the project manager.
How do you project a cost?5 Steps to Accurate Project Costing. Understand the scope of the work. First, you need to understand what it is the project is going to deliver. ... . Estimate the work. Next, estimate the work. ... . Include all other costs. This is the step many project managers miss out. ... . Add contingency. ... . Review, review, review.. |