Guide to Become a Project Manager

If you are someone who enjoys leading and organising teams toward achieving a common goal, then a career as a project manager might be perfect for you. Project management is a popular and in-demand MBA program that involves planning, organising, and overseeing projects from start to finish, ensuring they are completed on time, within budget, and to the satisfaction of stakeholders. 

In this blog, we will provide you with a step-by-step roadmap on how to become a project manager which will help you gain the knowledge and expertise needed to excel in this exciting profession.

Who are Project Managers?

• Project Managers are professionals who are responsible for planning, executing, and closing projects of various sizes and scopes.
• They are typically responsible for overseeing a team of individuals working together towards a common goal, and ensuring that the project is completed on time, within budget, and to the satisfaction of all stakeholders.
• They work in construction, information technology, engineering, marketing, finance, or any other field where projects are needed to achieve specific goals or objectives.
• Project managers may hold different titles, such as project lead, project coordinator, or program manager, depending on the level of responsibility and the size of the project. 
• They possess diverse skills, including leadership, communication, time management, risk management, budgeting, and problem-solving.

What do Project Managers do?

Project managers are responsible for planning, organising, and overseeing projects from start to finish. Their primary objective is to ensure that projects are completed on time, within budget, and to the satisfaction of all stakeholders involved. Here are some of the key responsibilities of project managers:

• They are responsible for planning the project, defining the project goals, scope, budget, and timeline, as well as identifying the resources required and the risks associated with the project.
• They are responsible for assembling a project team and assigning tasks to team members. They also manage team dynamics, ensure effective communication, and motivate team members to achieve project goals.
• They identify and manage risks that could impact the project's success. This includes developing contingency plans and mitigating risks to minimise their impact on the project.
• They track progress against the project plan, identify deviations, and take corrective action when necessary. They manage project finances, ensure compliance with regulations and standards, and report progress to stakeholders.
• They ensure that all project objectives have been met, all deliverables have been produced, and all project documentation has been completed. They conduct a project review to identify lessons learned and best practices for future projects.

Steps to Become a Project Manager

Becoming a project manager typically involves the following steps:

• It is important for candidates to have a strong educational background to work in investment banking, especially in relation to the 10+2 requirement. Students must have at least a 50% overall score requirement or an equivalent CGPA, from any stream including arts, commerce, or science streams.
• A bachelor's degree in a related field such as business, engineering, or computer science is highly preferred. Pursue a degree in any of these fields, and you will have an edge in the job market.
• An MBA in Project Management will be helpful for those who aspire to become a project manager. It will give a deep understanding of the principles and practices of project management, as well as the business skills necessary to manage complex projects across a wide range of industries.
• There are several project management certifications available that can help you stand out to employers. Some of the most popular certifications include Project Management Professional (PMP).
• Lat but not the least, you need to study project manager interview questions to ace the interview for the project manager job role.

Jobs in Project Management

Project management is an essential role in many organisations, and there are various job titles that fall under the umbrella of project management. Some of the most common job titles are:

Job Role	Job Description	Average Salary
Project Coordinator	You will be responsible for handling the administration of any projects in order to maintain the workflow of the project.	₹4-5 LPA
Project Manager	You will be responsible for planning, organising, and executing the project within the limited time period and budget.	₹12 LPA
Program Manager	You will be responsible for looking over the multiple projects in one program.	₹18 LPA
Portfolio Manager	You will be responsible for managing the portfolio of the projects.	₹7.5 LPA
Project Analyst	You will be responsible for analysing the data and the trends of the project.	₹6 LPA
Project Scheduler	You will be responsible for maintaining the schedule of the projects making sure it is completed within time and budget.	₹7.5 LPA
Risk Manager	You will be responsible for identifying the risks in any project and ensuring the successful delivery of the project.	₹10 LPA
Project Consultant	You will be responsible for providing expert advice on successfully delivering the project.	₹7.5 LPA

Skills Required for Project Management

Given below are some of the key skills that are important for successful project management:

• Leadership: As a project manager you will be responsible for handling the team therefore, you must be able to provide direction, motivate team members, and inspire collaboration to achieve project goals.
• Communication: Having clear communication is important to articulate project objectives, manage stakeholder expectations, and build relationships with team members and partners.
• Planning and organising: It is important as you have to create project plans, establish timelines, and manage resources efficiently to ensure project success.
• Risk Management: You must be able to identify potential risks, develop contingency plans, and manage risks throughout the project lifecycle.
• Budgeting and Finance: Your responsibilities will include managing project finances along with budgeting, cost control, and financial reporting. Hence having strong mathematical skills will be helpful.
• Adaptability: You  should be able to adapt to changing circumstances, priorities, and requirements to ensure project success

Conclusion

Becoming a project manager requires a combination of education, experience, and skills. It's a challenging but rewarding career that offers opportunities for growth and advancement in a variety of industries.

With Sunstone, students can learn occupational skills with the help of training courses. Students are benefited from 70+ training sessions from expert guest faculty (ex-IIMs, IITs). Along with this, students can get hands-on experience from capstone projects, which can be helpful in securing job offers. 

FAQ-Guide to Become a Project Manager

How long does it take to become a Project Manager?

To become a successful project manager it will typically take 4-6 years, the duration mainly depends on both the education and experience. 

Is there any difference between Product Manager and Project Manager?

The major difference between the two is that, Product Manager focuses on product development, whereas, Project Manager focuses on coordinating and managing different projects.