When managing a project, there are several considerations that managers must recognize. That is, not only inclusive to their end, but those working close to the project as well. The job of the manager is never simple; however, they implement several skills and techniques to make these jobs run smoothly. Projects, as we know can be long term or short term in nature. Some take a few months, whereas others can last for years. Being that each manager possesses a different leadership style, the project process is unique from manager to manager. Nonetheless, each is important, and task related in the long-run. In this essay, we will examine the numerous tasks of managers in their efforts to manager projects. Project managers innovate, plan, motivate, and conquer in their positions.
Although many believe that operations management and project management are basically the same thing, there are several differences within. By understanding these differences, we can obtain a better understanding of what project management truly is in all its glory. In project management, there is a set end date for completion, whereas, operational management is an ongoing process. The teams associated with each are distributed differently as well. Project managing requires teams to split after completion of the project. The sole purpose of a project is to implement change in the business, which is why these operations have end dates as well. The work in project management is unique, and very rarely repetitive. Budgets in project management are more often than not fixed, and significantly reflect the tasks and resources needed for that unique idea (Project Manager, 2018). As we can conclude, operational management and project management incur numerous differences. Project management is unique and nature and is inconsistent.
Generally, with any given project, there are five steps that must conclude. These are: initiation, planning, execution, managing and controlling, and closing (Reh, 2018). Each of these steps have defined tasks in mind as they move the project closer to completion. These five steps listed above are identical in every single project as well. As stated above, there are also numerous steps involved along with these five processes as well. Some of which include: defining the scope, determining the available resources, assembling the team together, and monitoring the 2 teams process as well. Although, there are certainly numerous tasks that managers face when taking on a new project, these listed examples provide a good summary of what it will entail. As mentioned above, assembling the team is one of the associated tasks. Getting the right members in the team is one of the most important parts of the entire project. If managers do not choose proper members, the project more than likely will fail or not be executed to its fullest potential. In some cases, this team is assigned to managers by functional supervisors which can yield either positive results or negative in some cases. Nonetheless, the group generally encompasses some traits that brought them into the project (Reh,2018).
Although team members are not in the same status as the manager during any given product, they are equally as important and significant overall. A project manager can not complete all tasks alone, therefore the facilitation and organization of this group is extremely important. Motivation does not always come easy in these sorts of jobs. However, luckily, managing and motivating projects are basically consistent in any environment (Bridge Technical Talent, 2015). What I mean, is that members can be motivated in the same fashion, whether they are working on a work, school, or any of type of project. This consistency is somewhat helpful to managers in these roles. However, individualistic motivation is not consistent, meaning that each person is driven by different factors, therefore, managers must make notice and observation on what drives specific individuals to provide as much effort as possible. Although it is seemingly impossible to control the actions of one’s team, there are numerous ways to add enthusiasm to the typically boring project meetings.
A few of the suggested ideas to keep team members motivated are: setting realistic goals, conducted either weekly or monthly review sessions, walk the walk, praise the small victories of the project, and lastly discover ways to foster tight ties will all members of the team. By doing so, managers have yielded better motivation and project results. As stated above, conducting weekly or monthly review sessions help create motivation. According to Bridge Technical Talent (2015): “If your team members know that every Friday they will all be sitting down together to discuss progress, they will be more apt to follow deadlines and stay motivated to do their part. Make sure to ask for feedback – good or bad. Doing so ensures that your team knows you view them as equals when you listen to and consider their opinions” (Bridge Technical Talent, page 1, 2015). This quote reveals two important discoveries about motivation and the team managers are working closely with. First, members want consistency and structure on the project, and secondly, they want to be respected by managers are treated as equals. Although all managers possess different ways of managing, team members satisfaction should be considered in all cases. If not, the project will surely plummet.
Just as it is essential for project managers to put together a good team and facilitate their motivation throughout the project, the finances of this plan are also exceedingly significant as well. Depending on where the business stands, some managers will need to ask creditors for money to begin the project, whereas, some has enough to budget the entire costs associated. Whatever the situation may be, money is a significant aspect that every manager must consider with these projects. According to Cohen (2000): “Traditionally, the Project Manager’s focus was to bring a project in on time and on budget. In today’s changing environment, the scope of the Project Manager’s job is becoming increasingly broader. As organizations become increasingly project based, Project Managers need to be more financially savvy. Not only must projects be on time and on budget, but they also need to contribute to both shareholder value and the long-term financial success of the business. Looking at projects as “ventures” will require Project Managers to better understand the company’s cash cycle and how each project fits into it” (Cohen, page 1, 2000). As we can see, finances are becoming more and more important to project managers in modern times. Being that these finances are so important, many considerations must be determined prior to the initial stage of the project. Although each business is different, as well as projects to, financing is generally consistent. The cash cycle consists of four phases. These include: financing, investing, operating and returning. In this first step, which is financing, project managers need to discover how much the project will cost, and how they will be able to finance it. Certainly, there are numerous other steps involved, although this is sort of a basis. Many times, creditors will be contacted in order to help with such matters. After this is completed, project managers will move on to the second step which is investing. Investing in the project that is. Resources and costs will be considered in this stage, and the products or services will be paid for (Cohen,2000).
Project managers must be aware of what they are spending since the money does belong to the creditor from which they borrowed. By conducting numerous strategies of determining profits, project managers them move to the third stage. Operating, which is the so called third phase of the cash cycle is dedicated towards setting the project in motion. This stage is dependent on the team and project manager to yield successful. As stated in the beginning, projects occur typically to implement change, as well as financial incentives to. If the project is successful, both can occur simultaneously. They are also both determined in the operations phase of the cash cycle. After the completion and realization of success or fail, the project manager will contact creditors and pay off the money that is owed to them. As Cohen explained, the last stage is returning. After returning this money, the firm can decipher how much money was generated to them specifically during this project period. These four steps are dire to the financial aspects of any project (Cohen, 2000). No matter what business is planning a project, finances are a vast part of it and if these ideas are not thought out properly, the project has a high rate of failure. Finances and teammate selection are amongst the most difficult components for project managers.
Project managers do not simply manage projects, rather they manage teams, finances, and many other things as well. These jobs are not simple, which may explain their status, as well as their pay. This type of leadership and hands-on managing is not fit for every candidate with a degree and a pulse, rather unique and intelligent individuals who have vast knowledge and experience in such fields. Outsiders have no idea the degree of effort that project managers employ. If the manager misconducts finances or doesn’t accurately motivate their team, the entire project will suffer. Even after the return phase of the project, managers are still busy with carrying out the project. Several considerations follow through, such as reviewing and learning from that specific project. Such information will be extremely insightful when it is time to complete the next project. If project managers jobs were not hard enough! Great appreciation and admiration is given to such individuals on my end. Prior to this assignment, I never knew the degree of effort these individuals are expected of.
References
- Bridge Technical Talent. (2015, June 11). How to Motivate Your Team as the Project Manager. Retrieved May 6, 2018, from http://www.bridge-talent.com/blog/motivate-team-project- manager/
- Cohen, D. J. (2000). Why finance matters for project managers. Paper presented at Project Management Institute Annual Seminars & Symposium, Houston, TX. Newtown Square, PA: Project Management Institute.
- Project Manager. (2018). The Ultimate Guide to Project Management – ProjectManager.com. Retrieved May 3, 2018, from https://www.projectmanager.com/project-management
- Reh, J. (2018, February 20). How to Manage Your First Project. Retrieved May 6, 2018, from https://www.thebalancecareers.com/how-to-successfully-manage-your-first-project- 2276127
