Every corporation has business goals or targets for future growth. These may include introducing a new product, entering into a new market, moving to a digital platform, and/or addressing the needs of a changing workforce. These high-impact and increasingly complex initiatives require project management for proper planning and execution to achieve anticipated results. Without an organized and focused approach offered by project management, programs could veer off course, go over budget, miss deadlines, and fall short of expected objectives.

The Professional Management Institute (PMI) reports that organizations not using a project management process are more likely to see their initiatives fail. Additionally, PMI’s global survey on project management practitioners reveal that organizations using proven project management practices waste 28 times less money as more strategic initiatives are completed successfully.

The growing use of project management increases the demand for project managers in every industry. As a result, many corporations look for individuals with industry certifications. Professionals interested in entering this field or strengthening existing skills to advance into higher-level positions can attend project management certificate courses such as those offered by Norwich University.

What is Project Management

Project management is the process of taking a program from initial planning through to execution, monitoring and closure. PMI cites the following project management functions necessary for project success:

• Define business objectives and project scope: what are the expected deliverables?
• Plan realistically: ensure a well-defined methodology and schedule for executing the project.
• Define the roles and responsibilities of the organized teams.
• Select and implement technology-related tools including software, AI, etc. that automate and standardized processes.
• Track and document progress: record completed tasks and progress.
• Manage risks and issues: Review and log issues, escalating those that need immediate resolution.
• Promote efficient and effective internal and external communications.
• Conduct a final assessment: did the project meet its intended goals and what troubles and suggestions can fix problems for upcoming next projects?

Project management certificate programs, such as those offered by Norwich University, can deepen skills for individuals to handle these tasks.

What are the benefits of Project Management?

According to PMI statistics from 2018, organizations not using PM processes reported failure of half or more of their projects. Those that did use project management practices were 2.5 more successful in their initiatives. While project management is an investment of new resources, time, processes, and money, corporations that implement this methodology can streamline operations with these benefits:

• Increase productivity:  greater efficiencies gained through planning the different project stages and creating processes and procedures for teams results in improved productivity.
• Improve collaboration: structuring teams, defining roles, and delegating tasks to create a better understanding of what everyone is doing for greater interaction.
• Better outcomes: tracking performance throughout the project decreases scope creep and identifies bottlenecks and problems for faster resolution.
• Decrease workloads: Defined tasks and timelines ensure the team knows their other team members’ responsibilities so no one is pulling the load more than others.

Enterprises utilizing project management also learn to work smarter as they have identified strategies that serve them well and resolve challenges to work more efficiently and with greater performance to succeed.

The Need for Project Managers

Project Management Institute reports that the demand for project managers is growing faster than in other occupations. A 33% growth rate is expected between 2017 and 2027 to meet the need for 22 million new jobs. The demand is greatest among construction, civil engineering, manufacturing, finance, health administration, and IT industries that need professional project leaders to support daily activities and growth strategies.

According to Glassdoor, the earning potential for a project manager in the United States is $87,436 but can vary based on industry, project type, company location, and candidate background. Individuals holding a PMP or CAPM certification earn around 16% more than those not holding a certification.

Important Project Management Skills

A PMI and Anderson Economic Group whitepaper entitled “Building High-Performance Project Talent” reports that over the past few years, 83 percent of employers had minor to significant difficulties finding skilled project managers. The same white paper notes that not having the right talent results in the inability to effectively innovate, reduced quality, and the cancellation or delays in strategic programs.

As project managers take ownership of the different facets of a project, they must possess the skills to support that responsibility. The success of a corporate initiative often relies on the knowledge and experience of a project manager. PMI notes that leadership, strategic and business management, and technical project management are critical PM skills. Others include:

• Communication
• Risk Management
• Scheduling
• Cost Management
• Critical Thinking
• Quality Management

The Norwich Pro Online PM Certificate Program

While most organizations believe project management is critical to their performance and organizational success, barely more than half have project managers possessing certifications. Norwich University offers an online project management certificate program that helps individuals become more effective on the job or develop skills to transition into a career in this field. The certificate includes four online courses that provide the skills deemed necessary for success in this role including:

• Project Management Overview
• Applied Psychology in Project Management
• Business Essential for Project Managers
• Managing Complexity

Please visit the Norwich Pro Website for information on Norwich Pro Project Management Certificate Program that develops and deepens professional skills to get ahead in a PM career or enter into one. Have questions? Contact Norwich at https://pro.norwich.edu/contact or by email at norwichpro@norwich.edu.