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What is Project Management? Why is it so Sought After?

Project Management, simply put, is handling all components of a given project. It demands making certain that all necessary operations, as per the defined requirements, are carried out in a bid to meet the overall project objective. Such objective is to be met while taking care of not only the requirements but also the budget, other resources, and time available. Project Management, therefore, asks for meticulous, realistically-done planning, besides the execution, handling, and supervision bits.

To be able to plan and execute a project well, one needs the right knowledge and approaches. One needs to be able to ensure adherence to timelines, inspiring teammates to work harder and longer if timelines so require. One vital post-completion goal is to learn from proceedings – and mistakes, if there were any – and ensure that teammates too learn some essential lessons.

Project Management is sought-after today for it is aimed at efficiently and quickly meeting targets, lending advantage to the firm following it. It enables tapping core competencies of the human resources involved in a project by making easier delegating responsibilities as per capabilities.

Qualifications for a Career in Project Management
A management degree from a reputed institution is important for developing key skills and perspectives, and shaping understanding the right way for taking on the immense charge. Of course, one also needs qualification in the field one wishes to manage projects in. For example, if one wants to take up Project Management in the technological sphere, one needs training in technology, and training in management.

Besides the necessary qualifications, needed is the right exposure, which paves the way for establishing this career. Some relevant certification that gives greater grasp over aspects of the chosen field can also come in handy. Also, it is a good idea to be updated about available tools that aid efficient working. For instance, some knowledge about software applications or web-based solutions that help in Project Management work can be great help.

Skills for a Career in Project Management
Leadership skill is an absolute requisite for Project Management. Equally essential are abilities to think strategically, analyze well, and take, even in tricky situations, calmly-thought-out and informed decisions. Command over the intricacies of one’s chosen field helps make the right judgments about approaches and target-setting. The ability to evaluate others’ competencies is important for delegation of responsibilities.
One handling Project Management must be able to manage time and multiple responsibilities well in order to ensure that the team remains on the right track and there are no lapses. Resource management, including people management – teammates and clients must be happy and satisfied, and risk management are also necessary. Possession of the capacities for efficient coordination and communication, for working across teams and geographies, and for adopting meticulous approaches for all tasks makes working in this domain smoother.

Having the knack for coming up with innovative ways to solve problems big and small that crop up along the way can be a great boost. As is the case with all positions of responsibilities, Project Management mandates the will to work hard, the will to learn, and the will to scale higher successes.

Hierarchy in Project Management Career
The required knowledge, skills, and approaches come only with sustained efforts put in over a period of time. Going in for the right training and availing of the right opportunities at the right moments are foremost of the requirements.

To be prepared for a career in Project Management in any given field, one is required to develop core competencies in that field. Some years of work experience is necessary after an undergraduate degree in the chosen field; it is only through practical experience that one gets good grasp over what one has learnt. The skills that are rudimentary in earlier stages of one’s career gradually become honed and one develops expertise in some aspects of one’s work.

As one proves one’s capacity, one moves beyond handling roles requiring only the use of one’s core competencies and starts handling increased responsibilities. A position as an assistant to a manager in the specific domain can provide the right platform that helps climb onto Project Management in the future. Learning through observing the manager, going in for formal training, and shaping perspectives through all past academic and professional experiences are sure to help start on a good note.

Once the position is achieved, utilizing all acquired skills and learning more needed ones while on the job will help excel and escalate higher on the career curve.

Pros of a Career in Project Management
In being challenging and dynamic, this career offers great opportunities for learning and growth. Meeting of challenging targets provides an immense sense of satisfaction and achievement. The fact that one’s strategic steps help the organization greatly in various ways, including increasing productivity and reducing cost, sure makes one feel glad about contributing significantly through one’s efforts. In that Project Management enhances communication between the different people involved, it helps forge bonds, create networks, and learn from others.

The best part, of course, is the opportunity to be the leader and the decision-maker, to be the driving force for making accomplishment possible. Since Project Management does improve the overall deliverance positively, a plethora of opportunities are available in different fields. As competition is immense for the sought-after position, one must be on one’s toes all the time, and so one remains inspired to be one’s best version. For one keen on learning and remaining constantly challenged, Project Management will be a great opportunity.

Cons of a Career in Branding
As success needs to be constantly worked towards, Project Management can be very stressful. The performance is what determines one’s standing in one’s organization; performance review helps determine future opportunities. The great stress to perform well can be exacting and overwhelming. Executing and supervising all tasks can be physically and mentally draining.

While dealing with people does have its pros, it cannot be expected to always end up a pleasant experience. Considering one’s charge of keeping the project on track, one will have to exert some pressure on one’s teammates, which may not always be taken in the right spirit. A fine balance between inspiring and pressuring will have to be maintained. Arguments over requirements or deadlines with clients may also arise and will require tactful handling.

Who is a Career in Project Management good for?
Anyone with the right training, the right skills, and a love for challenges and dynamism can be a fit for such a career. If one has the ability to remain on edge, without getting too overtly stressed, the position can definitely be striven for. If interacting with, leading and managing people interest one, then this can be a really good option.

Top Industries for a Career in Project Management

• Biotech
• High-tech
• Construction
• Finance
• Hospitality
• Healthcare