Statistics show that 7 out of 10 companies have at least 1 project fail in a given year. In most cases, a lack of clear objectives is behind the negative outcome. This can be avoided if the project is led by a professional, experienced project manager who acts as a captain of the ship, guiding the team towards the set goals. What are the project manager's responsibilities? What makes a good project manager and why should you hire an interim professional to manage certain projects? In our article, we answer these questions!

The project is a distinct unit of work in the company's operations. It is characterised by having a set objective, a start date, a schedule, deadlines, responsibilities, and a defined budget. Surveys show that projects are very fragile: 70% of organisations have experienced the failure of a project in the last 1 year. Moreover, only 58% of companies are aware of the value of project managers.

Controlling operating costs and maximising revenue is every company's dream. A well-chosen, professional project manager can help you save considerable sums. Statistics show that companies that invested in project management wasted 28 times less money and had a more predictable project timeline.

Why do we need a project manager?

There are many arguments for appointing and involving a project manager. They are the ones who guarantee the success of the project. He or she works to a defined plan, which makes his or her work easy to follow. The contract with him or her will specify the objectives to be achieved and the conditions under which they are to be achieved, and may even define the quality expectations.

The project manager is a person who monitors deadlines, budgets and prepares the necessary documentation. He or she is the person who handles problems that arise and, last but not least, liaises with the parties.

So there is no question that a good project manager is a win-win situation. In fact, in most cases, much better results can be achieved if an interim project manager is brought in rather than an internal person. Why?

Because an interim project manager can bring a fresh perspective, a "fresh eye" and sometimes a more effective solution.

Interim professionals are highly experienced and have a professional management background, so you can be sure that the task will be in the hands of an experienced project manager.

An interim professional is not an employee, but an external helper who spends his or her day-to-day time with the project team. However, because he is not employed by the company, he is not involved in the power games and power struggles.

The interim project manager supports the company for a limited period and has a well-defined task. He or she is not distracted by others and is responsible for managing the project.

What makes a good project manager?

A good project manager has great communication skills: he or she must be able to communicate with the team, managers, and customers, and be able to motivate and lead others. A successful project manager spares no time in controlling, monitoring, and analysing projects. This, of course, requires an understanding of project management processes.

A professional is thorough, knows the project framework, and knows what needs to be done and what doesn't. They can communicate expectations and accountability to the team and have excellent problem-solving skills.

He is comfortable in a virtual space, technologically savvy, and able to set meeting schedules that facilitate efficient work. He is focused on project success and client satisfaction, and as a leader, he can bring out the best in the team. The project manager must be able to reward, praise, and celebrate, as this is the best way to motivate employees.

Project management is essentially a learnable skill. You can learn the steps of a project and how to guide the team through them. All the skills described above can be developed, but it is much easier if you have a basic attitude that fosters professionalism.

But what does a project manager do? In the next part of this blog post, we'll give you these details and also answer how the rise of artificial intelligence is affecting the work of project managers!

What is the role of a project manager?

The project manager is a job role that is present in almost every sector, in every discipline. The job itself is extremely varied, covering a wide range of activities. The difficulty of the project manager's work depends on the nature of the project, its size, the circumstances, and the objectives set. Whatever the size of the project, the tasks and work structure are very similar.

Peter Drucker, a leading figure in the history of management training, said:

"Plans are only good intentions unless they immediately manifest in hard work."

The 20th-century management consultant summed up the essence of what a project manager does in a single sentence: "Plans are essential for consistent action, but if they are not implemented, they are meaningless. Project management goes beyond planning to include implementation. This is what distinguishes it from consultancy.

The main task of the project manager is therefore to help the project team to achieve its objectives within the time and budget allowed.

What are the days of a project manager? Here is an overview of the tasks that fall within his remit.

Defying the scope 

The scope shows what the project covers. It is the project manager's job to make sure that everyone understands what the project is about, what the project is about, what the goals are, what the boundaries are, and what tasks fall under the scope of the project. This is the basis of the whole work, which needs to be discussed with everyone involved. If there is even one person who does not understand the framework properly, there is a risk, a chance of misunderstanding, and a chance of error.

For example, take a company where the project is to develop an in-house training system. Thanks to the scope, it is clear to everyone what the task covers, i.e. it includes the compilation of the curriculum, the appointment of trainers, the editing of timetables, the assignment of employees, and the setting up of a system to track training. However, it no longer covers staff information, because the communication of training will be handled by another team.

The scope will be recorded in the project documentation so that it is always available and can be consulted by participants at any time.

Planning and scheduling tasks

If you have the scope, then you can start the tasks! The project manager defines the steps to reach the target and the tasks to be completed to achieve them. He sets up the sequence of tasks and also delimits the requirements for their completion. A schedule of tasks is prepared and agreed upon by the team members. It is essential to note that the project manager does not need to be an expert on the project subject, but should have enough insight to be able to carry out the above steps.

Preparing a budget

As in all cases, the budget for a project consists of a revenue and a cost side. The revenue side is the milestones where invoicing will take place, and the cost side is made up of resources and other costs needed to implement the project. At the beginning of the project, the budget should be defined, as well as the expected tasks. The project manager should coordinate the work with these in mind. This is often not an easy task, as over time extra needs and costs may arise, and it is up to the project manager to weigh these up against the overall budget.

For example, when developing a new product, the customer may want to add new features to those defined in the scope. However, these new elements will almost certainly not be completed on time and within budget. The project manager should therefore firmly reject such initiatives, as it is his/her responsibility to complete the project on time and within budget.

Resource management

The project manager must determine the allocation of resources. This planning is typically done with the team members, as they will be the ones responsible for completing the tasks. Key people should be identified and involved in the planning process as early as possible. This will allow a much more thorough job to be done, and key people will be committed to the project.

Procurement management

If necessary for the project, the procurement process should be planned. The project manager should make sure to allow sufficient time for the procurement phase and, if it is continuous, to build relationships with the procurement stakeholders.

The project manager, as a strong link in the chain, maintains contact with the procurement stakeholders. Timing is particularly important in this task because if, for example, the raw material does not arrive on time, they cannot start processing it and the whole project may be delayed.

Team management

The team is the engine of the project. The project manager's task is to bring people together and keep them motivated, to create a team spirit in which conscientiousness and proactivity are real values. To motivate, a leader can use a variety of tactics, such as delegating key tasks, encouraging feedback, and setting a good example to follow.

Planning communication, implementing the plan

Coordinating external and internal communication is the project manager's most important task. To ensure that this goes smoothly, a communication plan must be drawn up, identifying the communication actors, channels, and methods. It should outline how information will flow between team members and how they will communicate externally.

Quality management

The project manager not only keeps track of the tasks but also monitors whether the result meets the standards and requirements that were set at the beginning.

For example, as the project nears its end, there may be time pressures on the participants, who may, wittingly or unwittingly, lower the quality bar to move faster. In such situations, the project manager must be alert and signal that quality standards cannot be deviated from.

Risk analysis, risk management

Every project carries risks in itself and, due to the circumstances, the number of risks may increase as the work progresses. Risks can arise, for example, if the task is not well defined, but also if the success of the project depends on a single key player. These situations need to be recognised and managed by the project manager, and the risk must be averted.

Reporting

To be able to follow the progress of the project and report back to the stakeholders, the manager needs to continuously monitor and analyse the results and status of the tasks. He/she must remove obstacles that prevent the project from staying on track and, if necessary, bring in extra resources. These should be reported to managers and participants at regular intervals.

Artificial intelligence in project management

Artificial intelligence is turning the lives of businesses upside down. Back in 2019, before the big ChatGPT boom, Gartner predicted that by 2030, 80% of project management tasks would be performed by AI. Today, we know that the situation is not so dire, as human labour cannot be replaced so easily. AI technology has its limitations, so in all cases it requires a human perspective, sensitivity, empathy, and critical thinking.

But the fact is that AI can infiltrate the daily lives of project participants and help to improve efficiency. It can be used for example in prioritising project work, monitoring tasks, and progress, risk management, assistance, and testing.

Project management software, for example, can be a huge help in everyday life. They can help you work in a more cohesive and organised way and, importantly, help project team members find all the information they need in one place.

AI can therefore provide the project manager with an excellent "assistant" to support project management.

Why Interim Ltd. is the best choice?

At Interim Ltd, we understand that in many cases, bringing a project together is an extra task on top of the day-to-day tasks. This means that it is easy to lose focus on coordination, which can lead to delays and failure. Managing a project requires the right experience and knowledge, which an interim professional can provide to the maximum.

Guaranteed efficiency with Interim Ltd - A case study

Our client tasked us with reengineering their internal logistics processes, with a particular focus on improving the supply and efficiency of their production and warehousing processes.

Our experts started the work by carrying out a health check of the internal material flow, warehouse, and material handling processes. Interviews were conducted with the staff concerned, the available results were analysed and a detailed action and action plan was presented. We restructured the production materials handling, introduced new processes, organised training for staff, documented and implemented the changes in other production departments, and participated in the selection and training of the permanent internal logistics manager. We systematically implemented the necessary steps and changes, while continuously monitoring the KPIs.

As a result of this collaboration, operational productivity increased by 15%, downtime due to material shortages dropped to less than 2% and headcount was reduced by 20% through internal reorganisation.

This example shows that with a project manager with the right qualities and experience, real results can be achieved. Visit the website for more details about Interim Ltd. and our project management services!