The Project Manager: The Organizational Closer
Every organization—be it corporate, not for profit, or governmental—needs to get things done in order to survive. And they’d prefer those things be done on time, under budget, and with quality results. Who is a key player that makes all that happen? The project manager.
It is the project manager’s job to coordinate and often lead team efforts on major projects, including managing budgets and schedules, making sure tasks are being completed on time, and addressing unanticipated problems. They’re trouble-shooters, problem-solvers, and closers all in one. They often lead and guide the work of technical staff, select outside vendors and consultants, and also may serve as a point of contact for clients or customers.
Because of their expertise, project managers can often advance within organizations to higher-level administrative and management positions.
The Skill Set
What does it take to be a project manager? Here are a list if skills that will likely make a project manager’s job much easier:
- Strong communication/interpersonal skills
- Strong analytical and critical-thinking skills
- Budgeting skills
- Time management skills
- Personnel management/supervisory skills
- Ability to coordinate and organize employees with divergent skill sets
- Ability to adapt to fluid objectives, and resolve difficult or unexpected situations
- Ability to analyze work outputs in specialized areas
Project Management Degree and Certification: What You Need to Know
Project managers typically need at least a bachelor’s degree in a related field, including business or project management, while a master’s degree can unlock higher-salaried and specialized positions. Although a certification in project management is not always required, it can be highly beneficial: Recruiters and hiring managers often list such certifications as requirements on job postings.
Perhaps the most widely recognized professional trade organization in project management, The Project Management Institute (PMI)1, offers globally recognized certifications2 for workers at various experience levels, and attaining them can lead to much greater opportunities and advancement in the field. A PMI certification proves that a project manager has the ability to lead projects for any organization and in any industry. Some widely recognized certifications include:
- Certified Associate in Project Management (CAPM)3—Designed for professionals with three years of experience or less, a CAPM certification signifies “foundational knowledge and skills that project teams demand,” according to the PMI.
- Project Management Professional (PMP)4—For experienced project management professionals. PMI created the PMP to recognize project managers who have proven that they have project leadership experience and expertise in any way of working. According to the institute, a PMP certification shows that a project manager is highly skilled in:
- Motivating people and teams through all phases of a successful project
- Using predictive, agile, and hybrid approaches to determine which way of working is best for each project
- Highlighting the success of a project and its impact on overall strategic organizational goals
A STEM-Designated Master’s Degree in Project Management
Illinois Tech’s Master of Science in Project Management, offered by the university’s Stuart School of Business, focuses on three valuable skill sets in the project management field: technical, leadership, and business skills. The program not only prepares graduates to rapidly advance their careers in the field, it also prepares them to apply for PMI certifications such as CAPM and PMP. In short, Illinois Tech’s project management program provides students with the skills, expertise, and industry certifications to step into pivotal management roles.
Some project management courses unique to Stuart include:
- Agile Strategies and Practices: Do you want to be responsive and effective in your work? Be agile. The Agile Project Management course introduces students to an approach that builds adaptability and flexibility into managing projects by making incremental changes to a project throughout its lifecycle.
- Project Scope, Quality, and Risk Management: Risk management is the process of identifying, assessing, and controlling a wide range of potential financial, legal, strategic, and security risks to an organization. This course teaches students how to control the impact of negative events on an organization while maximizing positive events.
- Project Management Capstone: Effective leadership plays a key role in supporting successful project management. In this course, students learn about leadership behaviors and styles, as well as crucial project leadership skills such as communication, negotiation, conflict resolution, decision making, problem-solving, coaching, and mentoring.
As a STEM-designated program, the M.S. in Project Management curriculum is designed to encompass leading industry standards, so students will develop a comprehensive skill set that combines technical and leadership skills with strategic and business management acumen. Stuart is the only business school that is part of a tech-focused university in Chicago, and its designation also allows international graduates to be eligible to apply for an extension for Optional Practical Training, which lets them stay and work in the United States for up to three years after graduation.
Stuart’s location in downtown Chicago also places it at the epicenter of a global business and financial environment that makes up one of the most diverse regional economies in the nation, encompassing industries ranging from health care to manufacturing to banking. Stuart’s strong industry connections and extensive alumni network open up opportunities for employment and mentorship from accomplished professionals.
Salary and Job Outlook
It’s unsurprising that the person within an organization who is responsible for guiding important projects gets paid well. According to the United States Bureau of Labor Statistics, the median annual salary for a project management specialist in 2022 was $95,3705. The profession also has a positive job outlook, and is projected to grow 6 percent over the next decade—twice the average 3 percent growth rate for all occupations nationwide.
But a project manager’s salary can also depend upon their field or specialization. According to the Bureau of Labor Statistics, in May 2022, the median annual wages for project management specialists in the top industries in which they worked were:
- Finance and insurance: $104,930
- Professional, scientific, and technical services: $100,390
- Manufacturing: $97,350
- Administrative and support services: $90,120
- Construction: $84,310
A background or education in project management can also prepare you for other related fields. Here is a sampling of other related careers that require similar skill sets, along with their 2022 median pay, according to the Bureau of Labor Statistics:
- Management analysts: $95,290
- Operations research analysts: $85,720
- Mathematicians and statisticians: $99,960
- Logisticians: $77,520
Ready to Embrace the Dynamic World of Project Management?
If you’re interested in taking a leading role in making things happen within an organization, no matter what your field of interest, a project management job may be right for you. Overseeing and completing major projects that are essential to an organization’s success is not only professionally satisfying, but is also a great way to achieve recognition within a company and consideration for advancement. Your job won’t be boring: You will interact with a broad range of team members with various skill sets, clients, vendors, and higher-ups, and you will likely have ample opportunity to grow professionally within your field of choice.
If you’re interested in examining Illinois Tech’s Master of Science in Project Management program—including scholarship opportunities, part-time and evening course options, and hands-on work experiences—email Claire Johnson at StuartAdmission@stuart.iit.edu today.