Project management is essential for any business, regardless of industry.
The way we conduct and manage business has changed every few years.
Workplace updates are usually due to technology. However, more recently changes are focused on office culture, interactions with customers and stakeholders relations.
Regardless of what it is that is changing one thing is for sure, management style have to be flexible and adapt quickly.
Businesses today are under pressure to cut costs while also increase efficiency, productivity, and deliver successful projects.
As a result, many invest in hiring certified project managers.
However, according to the 2017 “Pulse of the Profession” global survey by the Project Management Institute (PMI), organizations are wasting $97 million for every $1 billion due to poor project performance.
The truth is projects still fail at a staggering rate.
This proves two things: 1) There is a significant demand for professionals with project management skills and experience. 2) Earning the official PMP certification is pivotal for propelling your project management career—in any industry.
In this article, we are going to illustrate how different businesses and industries benefit from project managers. We will also illustrate how project managers with their PMP certification are more prepared for a career in any industry.
A Growing Investment in Project Management
It is clear that investments in project managers are growing across various industries. Therefore, education and training to help professionals understand key project management discipline are more important than ever.
Regardless of business goals and objectives, many companies cite a shortage or gap in project management principles, processes, and professionals. For example, 46 percent of digital leaders cite a deficiency in project management. Furthermore, 36 percent of CIOs note a project management skills gap.
Project management is a blend of industry-specific knowledge and skills, experience, and basic leadership. Furthermore, project managers who are exposed to role-based training and earn the PMP certification are more likely to be successful.
So, if you believe that project management doesn’t fit within your particular business or industry, think again…
How Industries Leverage and Benefit from Project Management
Here are some examples of how different industries can leverage and benefit from investing in project management.
– Creative and Design Industries. Creative and design agencies offer a variety of design services, ranging from website design and development, branding services, creative content development, and graphics and architectural design. Because these types of projects involve significant client interaction and managing client expectations, project management is a must. A project manager can help communicate with clients; schedule review cycles of design mockups; and help organize client assets, files, and other documentation.
Building and following a process that manages and supports clients and design teams efficiently are crucial to avoid “scope creep” as well as to deliver projects on time and within budget.
– Construction. The building, construction, and architecture industries require more in-depth project management solutions. The construction and building industries often involve solving complex problems; managing various resources and stakeholders, such as town or building officials, construction staff, and inspectors; the availability of resources and materials; and rigorous project schedules and timelines involving a multitude of dependencies (yes… making sure everyone is working is part of that).
Many construction firms will hire a project management office (PMO), which is an outsourced organization with a team of highly trained and experienced project managers who specialize in construction projects.
– IT or Software Companies. With the rise of technology and the development of custom software, IT and software companies are in dire need of project management professionals to help them manage complex technical projects.
Many technical projects involve developing software or providing technical support. These types of projects involve gathering detailed technical specifications as well as functional requirements and also quality control.
Many technical projects involve managing “sprints” NO not those type of sprints.
The type of sprints that require a project management professional to be well versed in “agile” or “Scrum” project management.
Furthermore, many IT professionals and software companies work with offshore entities and individuals. Therefore, working with a project manager will an open communication style and who has experience managing virtual teams would be highly beneficial.
– Military. Many trained military personnel fall into professional project management roles. This is because military personnel are already highly trained for solving unique and complex problems. Additionally, military personnel also have highly reputable and effective leadership skills, which are crucial in various military fields. For example, in 1917, Henry Gantt, an American mechanical engineer was hired by General William Crozier to help prepare military units and the country for World War I. Gantt had previously developed the Gantt chart, which is still used for managing project timelines today.
Many military members become leaders in various military operations and government projects, which can involve leading and mobilizing specialized units and teams to building airplanes and aircraft carriers.
– Finance. Finance branches into various areas, such as business finance, personal finance, investment banking and even real estate. As a result, the various branches of the financial require ongoing projects that require compliant processes and software.
One key area of managing projects in the financial industry is risk management. Finance projects require analyzing, manipulating, and interpreting numbers, and inputting them into databases and software.
Therefore, it is crucial for project managers to automate many repetitive tasks, such as generating invoices, accounts payables, and cutting POs to help mitigate risks of human input error.
Take Your Project Management Career Anywhere
Of course, these are just a few industries and businesses that can benefit from project management, but the list really continues. You may already work in one or many of these industries. Perhaps you are considering a career in project management but you aren’t sure of what business or industry sector would be best. The good news is that basic project management principles are incredibly versatile; they can be applied to any business and industry.
How the PMP Certification Can Propel Your Project Management Career
Regardless of industry, preparing and studying for the PMP exam to earn your PMP certification will train and educate you on the key project management principles. As a project management professional with your PMP certification, this tells potential employers and clients that you are trained and well versed in project management principles.If you are interested in advancing your project management career, Project Vanguards offers professional training in earning the PMP certification. Project Vanguards not only provides sufficient resources and materials to help professionals prepare for the PMP exam, but also guarantees a 100 percent first-time pass rate.