Industries that can’t do without project managers

Project management is of vital importance in any industry, so it makes sense that a project manager is one of a company’s biggest assets when it comes to their employees. Employing an A-class project manager to head up your teams and ensure the smooth and successful delivery of your projects will not only add great value to your business by helping to streamline the process and offer a higher ROI, but will also help in minimising the stress caused by the mismanagement of projects.

What is project management?

Project management is the process of using specific knowledge, skills, tools, and techniques to lead a team in the completion of projects, from the initial concept to the finished product, service, or result, and to achieve all project goals within the given time frame and within an agreed upon budget.

Who is a project manager?

A project manager is a professional who is the backbone behind all projects. They are the ones responsible for the planning, execution, and monitoring of both short-term and long-term projects. Within managing the projects, a project manager will also be managing all the teams involved to make sure the project runs smoothly and communication between teams stays open and honest in order to achieve the project goals. An effective project manager strategically delivers project results on time and utilises a small budget and minimum resources.

Your daily tasks as a project manager are likely to include the following:

• Gathering requirements, deliverables, and timeframes from
• Agreeing on priorities with
• Planning your
• Creating project
• Communicating key
• Communicating your project plan internally and with the
• Producing reports for management (e.g., performance metrics).
• Communicating frequently with sponsors and
• Knowing your team’s strengths and weaknesses, together and
• Planning around your team’s skills to ensure end
• Adhering to the critical path and having a plan to mitigate issues that invariably

Industries that can’t do without project managers

Although project management is a discipline in its own right, there are a vast number of industries that can’t do without one. Such industries include:

Construction

The construction industry has always required project managers even in times of the global recession. This is due to the nature of the industry and the types of projects executed in this industry. From refreshing infrastructures, building new housing or large scale public infrastructure; the construction industry consists of both small and large scale building projects that happen all year round. In order to keep all the moving parts in line and in order, including the different teams, tools and resources needed as well as keeping an eye on the budget and timelines, project managers have a vital role to play in the construction industry.

As a continuously booming industry, the construction industry has – over the years – seen an increase in regulatory concerns, rising costs, and several other issues that impact the profit of a business, even though there is an increasingly high demand for these services. This is where the main value of a construction project manager comes in. In order to build large scale infrastructure, a project manager will be required to ensure that all stakeholders, teams, and resources involved in the project are kept aligned throughout the entire project to achieve the project’s goals and objectives as well as deliver it all on time and on budget.

No matter the sector, construction project managers need to integrate a wide range of considerations when implementing project plans. As they work with a variety of professionals, such as architects, engineers, city planners, public works employees, and onsite construction screws; project managers in this industry will require a working knowledge of the industry to ensure that they fully understand all the working parts taking place on a daily basis and to be able to foresee any roadblocks before they become a detriment to the project’s success.

Engineering

Just like the construction industry, the engineering industry has also always needed project managers to oversee and deliver successful projects as their industry revolves around this. Unlike other industries’ project managers, an engineering project manager will most likely require to have a bachelor’s degree in engineering as well as a postgraduate in project management in order to be a success in their field. This is due to the nature of the work, which involves leading specialised teams of engineers to complete projects and making sure  teams adhere to all safety regulations.

Finance

The finance sector has seen a major shift over the last decade with the entry of the digital era, and with digital transformation being the new way of doing business; project management has now become an integral part of the way that financial service institutions now operate. The need for higher returns from smarter ways of working and the implementation of transformative change to align with strategic plans as well as the need to meet the ever-evolving expectations of customers leaves the need for project managers at an all-time high in this industry.

The advancement of technology has driven the need for efficient project managers in the finance sector in order to not only manage change but also be the pioneering leaders in charge to incorporate the latest technology and business practices in order to achieve the goals set out by the company. Working with accountants, IT departments, marketing executives and customer service agents is all part of a project manager’s job in finance.

Healthcare administration

The healthcare sector is another one of the industries that have also taken to implementing a full-scale digital transformation in order to produce a greater service for all those involved worldwide. This process  requires project managers to both implement and pioneer the new processes and procedures needed in order to completely transform the industry for the better. The industry as a whole has moved away from paper-based records to digitally storing records which is a task all on its own accord. But it is not the only area where project management is needed, from being involved in building new digital systems and building new hospitals to providing outreach services in disadvantaged communities, project managers are needed throughout the healthcare industry.

Information services and technology

The IT sector has always seen a need for project managers as the work required in the industry covers an extensive range of projects and tasks that need to be completed all year-round. Organisations within the Information and Technology industries have been relying on project managers to implement advanced solutions to enhance productivity and accuracy of data gathered while also driving innovative solutions in order to achieve these goals and the goals set out by the organisation.

The value of IT project managers lies in their ability to help organisations secure the best possible ROI for complicated technological systems, all while ensuring that initiatives remain within the scope of the company’s budget and are delivered within the given timeframes.

Marketing and advertising agencies

When it comes to the marketing and advertising industries, the need for project managers is vital for the success of these businesses. This is due to the fact that these organisations run multiple campaigns for multiple companies all in one month, and in order to execute these campaigns successfully, let alone on time and on budget, a project manager will need to oversee the teams and resources involved to ensure that everyone is on the same page and working towards a common goal.

Without the oversight of a project manager, these campaigns are at risk of veering away from the given objective, being unorganised, and ineffective. To avoid these complications, a project manager will keep continuous communication flowing between all parties involved and oversee the process so that they can pick up any issues that may arise before they can have a negative impact on the project.

Final words

As you can see, there are a variety of industries that can’t do without project managers overseeing their daily operations. This is due to the value that a skilled project manager can add to any organisation by making the required changes and implementing new processes to increase productivity and receive a higher ROI on projects. Upskill your project management knowledge by signing up for a project management online short course and reap the benefits of both soft skills and hard skills that are taught to all project managers, regardless of the industry.