How to Become a Project Manager?
Aug 26, 2024
When a project goes off the rails, it costs every organization time and, most importantly, money. That's why, on a global scale, the Project Management Institute (PMI) estimates that 2.3 million people will need to enter the project management-related professions by 2030 to keep up with the demand. Therefore, if you're considering moving to a project management career, now is the time. With the right combination of education, skills, and experience, you can launch this career in seven strategic steps.
So, how to become a project manager? Join us in this exploration of the journey to become a project manager, the industries you can work in, and what the future of the profession looks like.
What is a Project Manager?
Project managers are professionals responsible for planning or executing various projects within an organization while ensuring these projects are on time, on budget, or within scope. They oversee the project throughout its lifecycle: initiation, planning, monitoring, execution, and closure. Throughout these different phases of a project, project managers are responsible for:
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Planning and developing the project idea;
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Defining the scope of the project;
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Managing resources;
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Forming a team that handles project tasks;
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Communicating with stakeholders;
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Managing monetary aspects of a project, including creating a project budget;
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Monitoring project progress and setting deadlines;
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Solving any issue that may arise;
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Evaluating project performance.
Types of Project Managers
Project managers are responsible for a project's ultimate success or failure; therefore, they're needed in a wide variety of industries, including information technology (IT), marketing, construction, and more. Let's briefly describe the different types of project managers.
IT project managers oversee an organization's IT department and are responsible for realizing the company's IT strategy and successfully completing projects. They're responsible for projects like network upgrades, hardware installations, cloud computing, etc,
On the other hand, marketing project managers specialize in planning, managing, and executing marketing campaign projects. They determine the resources and skills necessary to complete the project, allocate tasks to team members, develop a budget, and ensure the completion of the project on time.
Following, construction project managers are responsible for planning and overseeing specific building projects from the beginning to the end. They work closely with architects and engineers to balance the project's cost, review designs, keep track of supplies, and create a streamlined project completion schedule. They also ensure all workers obey safety guidelines.
How to Become a Project Manager?
Becoming a project manager involves a combination of formal education, certification, and experience. Here's a step-by-step guide on how to become a project manager.
1. Educational requirements
When pursuing a career in project management, you'll find that almost all organizations require a bachelor's degree, although it doesn't necessarily have to be in project management.
Typically, you can earn a degree in business, or if you plan to work in a specific field like IT, construction, or healthcare, you can pursue a bachelor's degree in that field. What's most important is that during your undergraduate studies, you gain the skills to supervise a project from the ground up to its completion.
That said, a master's degree is an excellent way to demonstrate that you understand the core project management principles and the skills required to excel in the field. While having an advanced degree as a project manager is voluntary, some companies require a master's degree to become a project manager. In this line, a master’s degree in Organizational Leadership or Business Administration is a great way to prepare (and advance) your career in project management.
2. Develop key skills
With so many shifting pieces to manage and keep track of, project management can be complex. Therefore, to become a successful project manager and meet the demands of the job, you need to develop a specific skill set.
These skills include:
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leadership to lead and motivate teams to work toward a common goal;
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communication skills to convey information to stakeholders, clients, and team members; and
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problem-solving to analyze complex situations and make informed decisions.
Other crucial skills include financial management, team-building, time management, negotiating, and quality management.
3. Gain relevant experience
Besides formal education, a great way to hone essential project management skills is to gain experience. Once you decide which industry you want to work in, search for an entry-level position that can offer experience managing projects in that field. Keep an eye out for titles like project coordinator, associate project manager, administrative associate, operations associate, etc.
You can also gain experience through internships during your studies or by getting involved in community or volunteering projects where you can showcase your project management skills. Gaining experience helps you hone essential skills and gain insider knowledge as well as helps you eventually land a high-level position in an organization.
4. Obtain certifications
While you can become a project manager without earning a certification, obtaining one allows you to demonstrate to employers your knowledge, skills, and experience. Moreover, certifications give you an edge if you want to transition to a new role in a different organization.
While there are numerous certification options some of the most important are the Project Management Professional (PMP), and PRINCE2 certifications. The Project Management Professional (PMP) certification offered by PMI is widely seen as the gold standard for project management certificates. To earn such certification, you must pass a 200-question, multiple-choice exam and meet requirements like 35 hours of formal project management education and three to five years of experience.
Another popular certification is PRINCE2 which is a widely accepted project management standard (though it is mostly common in the UK). This certification provides skills for effective project management through a common language, systems, and procedures, helping to control resources and risks. It is adaptable to any industry, company size, or project, saving time, money, and effort.
5. Build a professional network
Another crucial step to becoming a project manager is networking. Through networking, you can find mentors who can help you develop skills and notify you of opportunities to pursue
It also opens doors to knowledge sharing and allows you to stay informed about industry trends. To network with professionals within the field, participate in industry events and conferences, and join professional associations.
6. Stay updated and keep learning
Throughout your career as a project manager, you may oversee different types of projects. Therefore, it's crucial to learn and stay up-to-date with current trends, tools, and best practices. Doing so allows you to effectively manage diverse teams and hone your skills, making you a more successful project manager.
7. Apply for project management positions
The last but not least step to becoming a project manager is applying for project management positions. When searching for project management roles, tailor your resume to highlight relevant leadership, communication, and problem-solving skills. You should also emphasize past project successes, detailing your role and the outcomes achieved. Moreover, use keywords from the job descriptions to optimize your resume.
After receiving an interview invitation, prepare for it by:
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researching the company,
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reviewing common interview screening questions,
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honing how your experience is tied to the job description, and
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preparing questions for the interviewers.
During interviews, showcase your problem-solving skills, ability to manage team members, and experience with project management methodologies like Agile, Waterfall, and Lean. Follow up with a thank-you note to express gratitude and reaffirm your interest.
Average Salary for Project Managers
Your earning potential as a project manager depends on several factors, such as the industry you work in, your experience, and the region where you work. On average, you can expect a yearly salary of $120,000, though as an IT project manager, you can expect a salary of $113,676.
On the other hand, if you become a construction project manager, you can earn a salary of $ 104,900. Additionally, as a marketing project manager, you can earn a salary of $117,364.
As you gain experience, you can expect a higher salary, with your earning potential after ten years of experience reaching $130,000. Your salary also greatly varies by location, with the highest-paying states being Alaska, Oregon, and Massachusetts.
Job Outlook for Project Managers
These professionals are highly sought after in all industries that rely on project-based work to achieve their objectives. The Bureau of Labor Statistics reports that overall employment in management occupations is estimated to grow faster than the average for all occupations over the decade. Furthermore, they report about 1.1 million openings yearly due to the expansions of industries such as IT, construction, healthcare, and consulting.
The Bottom Line
The role of a project manager is critical to the success of any project. They're responsible for ensuring the project is completed on time, within budget, and meets the organization's objectives.
A career as a project manager could open up doors in multiple industries, such as IT, construction, and marketing. If you're ready to take the next steps toward this new career, explore our Master of Science in Organizational Leadership and gain the necessary knowledge and skills to drive meaningful improvements in your organization.
Frequently Asked Questions:
Is being a project manager a hard job?
Although being a project manager is rewarding due to the opportunity to lead projects from start to finish and high earning potential, it can have potential downsides. The possible challenges include dealing with disputes among departments, meeting tight deadlines and budgets, and dealing with uncertainty regarding the outcome of a project.
How fast can you become a project manager?
Becoming a project manager typically takes several years of experience and education. The timeline typically involves four years of undergraduate studies and 36 to 60 months of professional project management experience.
What does an IT project manager do?
IT project managers are responsible for leading projects to introduce new software solutions, switch cloud providers, or scale IT processes. They're also responsible for developing and managing project budgets, leading risk management and mitigation efforts, communicating with stakeholders, etc.