With many of today’s organisations globally facing increased challenges and more complex deliverables, the need for effective project management and project managers who can successfully manage these deliverables – even in the most challenging of environments and circumstances – has seen a rapid increase.
Essentially, project management is vital to the smooth and efficient running of an organisation and its operations, and to its overall success in meeting its goals. It helps organisations to successfully rise to business challenges, and to develop innovative solutions for addressing those challenges. It also greatly improves their ability to meet their customers’ needs faster, while at the same time within time and budget limits.
Without good project management in place, organisations can be left at risk of failing its customers and missing its financial targets and business goals.
Simply put – project management is the end-to-end process of project delivery. It involves using specialist knowledge, skills, tools, resources, and techniques to see a project come to life successfully – within a specific timeline and budget.
Project management can cover smaller-scale projects such as improving an internal business process or organising a company event right through to larger-scale projects such as infrastructure projects or the launch of a new product to a new market.
Some of the components of project management can include:
Brainstorming ideas and devising strategies
Developing project plans and budgets
Identifying and mitigating potential risks
Managing internal and external stakeholders
Learn more about industries project managers are involved in and their responsibilities:
When it’s done well, project management can significantly boost an organisation’s ability to develop innovative solutions to challenges and efficiently and economically deliver products and/or services to its customers.
Good project management saves organisations two of its most precious commodities – time and money.
With a project manager in place to take the reins and oversee a project from start to finish, organisations are investing in a resource with the specialist knowledge and skillset required to help them make better, more informed business decisions and deliver innovative solutions to their customers faster and within time and budget constraints.
In summary, some of the ways project management can help an organisation succeed include:
Developing better, more innovative solutions to business problems
Saving of both time and money
Having a dedicated resource to see a project through from start to finish
Successful delivery of business goals
Meeting financial targets
Smooth and efficient running of business operations
Project management requires a specialist knowledge base and skillset to be successful. For this reason, many organisations around the world employ project managers specifically to take care of their project management needs.
Taking the time and money to invest in a good project manager in the short-term saves organisations the headaches that can come with losing money and missing their goals and deliverables in the longer term.
Project management isn’t just an abstract business concept – there are specific principles, methodologies, techniques and practical skills around project management that must be put into practice on a day-to-day basis for it to be successful, no matter how small or large a project.
Some of the specific knowledge, skills and techniques required for successful project management include:
Understanding of the main principles, concepts, tools, and strategies around project management
Managing projects in global environments
Leadership skills
Budgeting/accounting skills
Understanding of sustainable development practices and principles
Advanced knowledge of project management methodologies, such as Agile and PRINCE2®
An MSc in Project Management will equip you with all these essential skills, techniques, and knowledge, and develop and enhance your confidence and capability as a highly-proficient and sought-after project manager within the global job market.
If you’re ready to launch your career in project management, or to take the next step in your project management career, discover how Cambridge Education Group's MSc Project Management (validated by London South Bank University) can position you as a highly-skilled and sought-after project manager in today’s global job market.