When companies start to develop something new, there are always questions about the value and importance of Project Managers. Most of these are around costs, implementation and organisation. You will need the correct data to answer these questions.
According to PwC, only 2.5% of companies successfully complete 100% of their projects. Research by Spikes Cavell found that 57% of projects fail due to a breakdown in communications, while 39% of projects fail due to a lack of planning, resources, and activities. By having a clear-cut project plan with a single point of contact to manage the deliverables, organisations can rest easy (at least, easier) that their objectives will be met.
In this blog, we will outline the roles and responsibilities of the Project Manager and explain why they could be the key to completing your projects on time and within budget.
The Role of Project Managers
- Outlining the Scope: Each project will have multiple stakeholders with different interests and requiring distinct demands. It is the responsibility of the Project Manager to retain and centralise this information, whilst also prioritising what needs to be done and when. By doing this, the scope will be clear and efficient, leading to a successful project.
- Controlling the Budget: Every project will have a budget to help keep costs under control. Your Project Manager will not only set out ballpark costs pre-commencement, but will also control spending and may even spot an opportunity for efficiencies.
- Managing Expectations: Having an experienced Project Manager to deploy skilled workers where they are needed most is fundamental to hitting deadlines. They can also make a judgement as to who can lend support, or when to warn superiors if they see issues which may arise.
- Mitigating Risks: Project Managers can spot risks where we wouldn’t. Not only can they see what others may miss, but they also know how to handle a crisis. So, when the inevitable cracks appear, they will jump into action and direct resources to minimise the risk.
- Filtering information: When you have all information flowing through one person, it allows you to focus on other tasks. By having a Project Manager between you and your employees, you avoid an overflow of queries and requests, as your manager filters information before it reaches you.
- Project reporting: Every completed project should include a comprehensive review to recognise successes and failures. Not only does this optimise future processes, but it also highlights any outstanding objectives that were not met. A Project Manager will produce a clear and accurate report on the status of your project.