Projects are a part of the day-to-day operations of businesses which necessitates project management for companies. While large organizations have hectic deliverables and complex processes, small organizations thrive only when they attract projects and maintain their revenue inflow. Thus, irrespective of the business size, it becomes imperative to hire a project manager.
When should you hire a Project Manager?
Organizations must contemplate hiring a project manager when:
- The team size in a project surpasses 10-20.
- They want to enjoy continued business from premium clients.
- They bag prestigious projects or clientele for the first time or intent to surpass customer expectations.
- They sense teams suffering from acute inefficiencies, overwork, or being under-optimized for longer.
In cases where an organization fails to utilize the full potential of the team members, a project manager will prepare a valuable blueprint that gears up the business for growth.
Why do businesses need a project manager?
The role of a project manager (PM) is pervasive and difficult to contain. It is fluid and always in a state of flux. A project manager plays a crucial role in an organization or business regardless of type, scale, region, and size.
Many companies delay the onboarding of a project manager with a notion that they can run the project without a PM until they painfully discover the imperativeness of one.
A well-managed and executed project increases sales and revenue and boosts brand value. A proven project manager recognizes the obscure opportunities and catalyzes business growth.
Here are some statistics from Hive that convince why companies should hire a project manager.
- Projects without a project manager lack performance and cost $122M for every $1B of the project value.
- Projects that lack clear goals lead to failures by as much as 37%.
- As many as 70% of the organizations suffered at least one project failure in their last working year.
- Only 58% of the organizations realize the necessity of a project manager in making a project successful.
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A business may hire a project manager when it needs to accomplish some or all of the following:
- Budget monitoring and estimate creation.
- Share the big picture with the promoters and shift focus to realizing the vision.
- Reduce involvement of management in the day-to-day working of teams.
- Free the employees from repetitive and tedious administrative tasks.
- Looking to deploy someone who can act as a catalyst and facilitate teamwork among various departments, functions, and roles.
- Ensure clear communication with all team members from a top-down and bottom-up approach.
- Need someone pivotal in managing clients and their expectations.
- Manage projects within cost, timeline, scope, and target.
- Maximize resources efficiency, increase customer lifetime value and minimize cost.
Industries that benefit from project managers
Project managers can be helpful to ensure smooth workflow and streamlined deliveries. Thus, any industry would benefit when they hire a project manager.
However, it becomes mandatory to have a project manager on board if the industry belongs to Construction, IT & Software, Manufacturing, and such bigger industries because of the scale and complexity of their projects:
- All such industries are large-scale initiatives comprising multi-structural, multifaceted, multi-functional, and multi-disciplinary approaches and structures.
- Projects are scalable and can turn far more complex than envisioned.
- Communication is the key for all such businesses.
- All these businesses are vision-driven.
Significantly, clients make an impactful difference in these industries, and thus they demand the expertise of a project manager with exemplary client management skills.
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Advantages of hiring a project manager
Skilled, efficient, self-motivated, and proactive project managers are assets to any organization. With the energy they bring in, they can be invaluable and indispensable for an organization. The experienced ones come with top-class qualifications, with proven experience in implementing and executing complex project-based processes.
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Skills to consider to hire a project manager
A project manager should be equipped with various traits to make the right choices and be able to shape your vision. However, not all project managers fit into all projects. They have varied roles and responsibilities across various kinds of projects. In general, a project manager should possess:
- The ability for incisive assessments
- Erudite decision making
- The capability to perform math backed analysis
- Competent delegation and organization
- Outstanding technical skills
- Coordination & communication
Desirable traits of a project manager
Companies need to fulfil the objectives and goals of their clients by optimizing efficiency, resources, and productivity and meet stakeholder and business partners expectations. These might be a far cry in the absence of an experienced project manager.
A project manager with the required attributes and traits can:
- Bring to the table the leadership skills that spread high morale and integrity among team members and the organization.
- Instil a greater sense of responsibility, accountability, professionalism, and ownership.
- Groom and nurture future project leaders, increasing productivity, efficiency, sales, revenue, and profitability.
Communication and people management are essential skills for a project manager. When it is time to hire a project manager, make sure that the candidate is:
- Agile with the responsive mindset to change and accept changes
- Flexible and dynamic
- Assertive and confident
- Extrovert and communicator
- Team player and empathetic
- Risk tolerant and composed under pressure
- Decisive and prudent
Additionally, project management is also about being adept with related tools and software. Essentially, project management tools simplify the five basic functionalities of project management: Task Lists, File Sharing, Communication, Scheduling, and Reporting. A knowledge of CRM software would be an added advantage.
Candidates with hands-on experience in any of these project management software as given below will always be an advantage for your business.
- Zoho Projects
- Monday. com
- Liquid Planner
A project manager can play a critical role in the success of your organization’s projects. They can boost your brand’s clientele and reputation while enhancing the productivity of individual team members.
In love with project management career path? Check our Project Management Guide for Beginners
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