Project Management Theory - Essay Example

Businesses operating in the 21st century are sophisticated and typically realize many projects and ventures simultaneously. This scenario has createda need for companies to delegate responsibility to other persons for projects not related to day to day operations. The management hierarchy in which the general manager or president was responsible for all affairs of the business does not necessary apply anymore. The corporate world resolved the problem by creating a new business discipline called project management.

The methodologies utilized today in this field began to be developed in the 1950’s (Project Insight, 2007). A project manager is a person that is responsible for planning, implementing and delivering a project on time and within an allocated budget. A project manager is a multi-skilled professional whose job entails a lot of different roles within a project. The principal role of the project manager is successful completion of a project. His job entails managing the project, business analysis, work design and writing documentation (Lifecyclestep, 2005).

He must be able to effectively manage people in order to motivate them and build working relationships to get the most out of his human resources. An efficient utilization of an allocated budget is important since the project manager has to complete the project without going over budget. When a project runs out the money allocated it is at risk of full failure and the project could become sunk costs for the company. Most of the roles and responsibilities of the project manager are illustrated in the list below:1.

Planning and defining scope 2. Resource planning3. Developing scheduling 4. Time and cost estimating5. Developing a budget 6. Controlling quality7. Managing risks and issues 8. Risk analysis9. Benefit realization 10. Documentation11. Team leadership 12. Strategic influencing13. Customer liaison (Projectsmart, 2007).The project manager works in a team environment in which he is the person responsible of managing that team. He must motivate the team and utilize his leadership skills to challenge the members and ensure their work complies with the expectations for the project.

To better understand the needs of his colleagues he has to listen to them and provide insightful feedback to them. It is important that the workers understand their duties and responsibilities. The project manager has to layout clear guidelines and of what is expected from each member. This is accomplished by good written and verbal communication from the project manager. A company in the process of hiring a project manager must look for a specific set of skills from a professional. An advertisement for a project manager position could look like the example illustrated in the table below: Looking for a motivated project manager with 5-10 experience in various industries with great analytical ability.

The candidate must possess great people skills. Knowledge of Microsoft project software is required. Project managers certified by the PMI are desired. The person must demonstrate a successful track record of completing projects in a timely manner. He must know how to manage a budget, perform risk analysis, design work and schedules, maintain good relationships with customers and manage human and fixed resources effectively. He must have strategic management knowledge and possess great leadership skills.

Education requirements are undergraduate studies in business or engineering and a master’s degree in business administration. ReferencesLifecyclestep.com (2005). The Role of a Project Manager. Retrieved May 30, 2007 from http://www.lifecyclestep.comProjectinsight.net (2007). Retrieved May 30, 2007 from http://www.projectinsight.netProjectsmart.co (2007). Retrieved May 30, 2007 from http://www.projectsmart.co.uk/role_of_the_project_manager.html