Project Management Technology: A buzz of MNCs

by: Shisam Bhattacharyya

Developing project management skills, even if you are not a project manager, sets you apart from the crowd, says Shisam Bhattacharyya

Are you feeling insecure in your job? Although an all-out career change may be a good choice for some, you don’t need to make such a drastic move to breathe new life into your current position. Developing skills in project management, even if you’re not a project manager, empowers you to make the most of your abilities and sets you apart from the crowd. Even making a modest improvement in how you work on projects can help you quickly rise above the mediocrity. In nearly every industry and job type, project management has become a must-have skill for anyone looking for career advancement. It allows you to create more value for your organisation

With the knowledge of project management principles and processes, you can complete projects in less time and to a higher standard of quality. The key word here is completion. By being able to complete projects fast, employees with project management skills deliver tremendous value to their organisations.

In a recent edition of the Project Management Institute’s (PMI) annual publication, Pulse of the Profession, the authors find that “high-performing organisations successfully complete 89 percent of their projects, while low performers complete only 36 percent.” Employees with project management skills, such as the ability to manage time effectively, delegate responsibilities, manage risks, negotiate for resources, and adhere to a project budget and timeline, have the know-how to successfully bring their projects to completion.

PMI’s 2013 salary survey found that project management salaries in the United States are consistently high, and are likely to stay that way. The survey reported that 74 percent of project managers in USA had their compensation increased during the past one year. A majority of the respondents indicated that they expected their compensation to increase further during the next year. The detailed survey showed that the median salary enjoyed by these experts was above $100,000 across organisations of all kind, and project team of all sizes.This is therefore, a lucrative field and even those just starting out can expect to be compensated generously.

Many successful project managers advance to their positions from other career tracks within their organisation; 46 percent of the salary survey respondents reported that they followed an “informal” project management career path in their organisation, and only 25 percent followed a career path that was “clearly defined in writing.” So even if you’re not formally a “project manager” in your organisation, developing these skills—and earning credentials to prove it—are one of the smartest steps you can take to advance your career.

There are many ways for information technology initiatives to go wrong—and they do so all the time. In fact, approximately one-half of businesses will have an IT project fail within a year, AtTask, a cloud-based enterprise work-management solution company, has come out with a free-to-download e-book titled “10 Problems Preventing Your IT Team from Doing Best Work and How to solve them.” A number of evolving dynamics are contributing to the issues, including mobilisation, globalisation, stakeholder demands, limited resources and team focus. These problems lead to disjointed project approaches and frazzled, stressed-out workers. Inevitably, the unfortunate outcomes include missed deadlines, budget overruns and unmet expectations.

In today’s world, there is an expectation that as a functioning professional in any industry, you know the basics of getting things done. Project management is an exploding career field and want people who hold PMP credential. These are some of the highest paid middle-level managers in organisations worldwide. Check out a few of the larger online employment websites; do a search for “project manager” and you will find many employers seeking various credentials in project management. The number of openings grows almost daily. So if you’re ready to advance your career, equip yourself with project management skills.

About the Author

The author is the faculty associate, Operation Management and Decision Science, at the Asia Pacific Institute of Management. 

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