What is a Project Manager? Responsibilities, Salaries, and More

What is a project manager?

A project manager is a professional who plans, coordinates, executes, and closes company projects. From projects ranging from building software to implementing a marketing strategy to building a physical structure, project managers lead the projects from start to finish.

Stakeholders communicate the project’s goal to the project manager alongside the budget while the project manager gets the job done.

What does a project manager do?

A project manager communicates with the stakeholders about the company’s project. A project manager plans the project, evaluates what is needed to get the project done, draws up the plan or a roadmap to get the job done, vets it thoroughly for any loophole or roadblock, presents it to the stakeholders, and gets their approval to execute the project.

A project manager is a project lead on whose shoulders lies the success or failure of the project. It requires leading a team of other professionals and closely monitoring the project until it gets executed. After the project is done, the project manager puts the finishing touches on it and closes it.

Project manager’s main responsibilities

The project manager role is dynamic. They take the team involved in the project from start to finish. The success or failure of the project is also largely dependent on the project manager. Here is a detailed list of the main responsibilities and duties of a project manager:

Communicating with stakeholders and getting the vision they have for the project. This includes the intricacies of the project, the expected timeline, and the allocated budget.
Drafting out an outcome-based roadmap, the resources and manpower needed to get the job done.
Organizing the project team, communicating their roles to them, and keeping them motivated.
Analyzing potential risks and loopholes associated with the project and mitigating them early enough.
Monitoring the progress of everyone involved in the project and ensuring everyone stays motivated.
Acting as a quality assurance personnel and ensuring everyone is bringing in their A-game.
Constantly reporting the progress of the project to stakeholders to keep them informed and abreast of the latest developments.
Documenting the process and actions taken about the project.
Managing the project budget and ensuring good utilization of resources to get the best results.

Project manager salary

Generally, according to Glassdoor, the estimated total pay for a Project Manager is $97,666 per year, with an average salary of $67,135 per year.

There are quite several factors that affect your salary as a project manager. Some of these factors include your years of experience, location, and the industry in which you work. For instance, for years of experience, as you move up the career ladder, your income increases as well. Here is a breakdown of the project manager’s salary based on years of experience:

0-1 years: $76K – $127K per year
1-3 years: $86K – $145K per year
4-6 years: $94K – $163K per year
7-9 years: $98K – $170K per year
10-14 years: $108K – $187K per year
15+ years: $131K – $229K per year

Another crucial factor in your salary is your industry. A project manager is needed in all sectors, from construction to healthcare to information and technology. According to Glassdoor, these are the top-paying industries for a project manager and their median salaries:

Energy, mining, and utilities: $136,573 per year
Aerospace and defense: $122,857 per year
Construction, repair, and maintenance services: $121,038 per year

Your location also slightly affects your salary as a project manager because of the cost of living in different areas. Here is a breakdown of a project manager’s salary living in big cities in the United States:

San Francisco: $130K – $220K per year
New York: $118K – $206K per year
Boston: $117K – $203K per year
Washington DC: $114K – $198K per year
Chicago: $102K – $173K per year

Project manager career path

Project management is a career where you can see a clear path on the career ladder as your years of experience and your skills and expertise increase. Here is a typical project management career path starting from the entry-level role:

Junior/Assistant Project Manager: This is the entry-level role in project management where you get to assist the project manager in coordinating and leading a project. In this role, you get to learn and gain hands-on experience in project management.
Project Manager: From being the assistant project manager, you get promoted to the project manager. By now, you have a few years of experience under your belt and have gained a lot of skills and knowledge to lead a project yourself.
Senior Project Manager: As a senior project manager, you will work on bigger projects or projects with longer timeframes. You will also coordinate a group of project managers under you to get the job done.
Director of Project Management: The Director of Project Management oversees all the company’s projects.
VP of Operations: The Vice President of Operations spearheads every project in the company. They guide the project managers under them on how to successfully manage a project.

Best practices for being a great project manager

People who are great at their jobs have a specific set of best practices they follow and stick to. To be a great project manager, here are the best practices to adhere to:

Communicate: A great project manager communicates on time to the stakeholders and the team they are working with.
Leverage tools for effectiveness: A great project manager leverages project management tools to make their work more effective.
Set SMART goals: A great project manager sets goals that are specific, measurable, achievable, realistic, and time-bound. They avoid setting unrealistic goals, such as an unrealistic timeframe.
Risk forecast and management: When planning a project, a great project manager forecasts possible risks that might be associated and does not leave any to chance.
Keep the team motivated: The team you work with as a project manager is a significant determinant in the project’s outcome. A great project manager ensures that the team is motivated and productive.

Project manager FAQs

What exactly does a project manager do?

A project manager plans, coordinates, and executes a project from start to finish. The success or failure of a project depends mainly on the project manager.

What do you need to be a project manager?

To be a project manager, you need a bachelor’s degree and project management skills such as planning, leadership, organization, and communication skills.

What are the four types of project management?

The four project management methodologies are scrum, waterfall, agile, and lean methodologies.

What are the 7 Cs of project management?

The seven Cs of project management are customers, competitors, capabilities, cost, channels, communication, and coordination.

Conclusion

We hope this guide has provided you with valuable insights into the roles, responsibilities, and rewards associated with this role.

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