Effective project management skills are essential for leaders

Project managers are some of the best candidates to be CEOs, because to carry out their usual work they have to bring together all the disparate aspects of theory, reality, vision, process, finances, value, politics and human nature to create successful outcomes.

As a CEO, one must have the necessary skills required to integrate the whole team’s abilities and create a system in which every team member can grow.

Effective project management not only helps your employees get better at their individual skills, but also helps extract the most from every project they take on.

The importance of project management, in essence, is that it helps you provide leadership.

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What are project management skills?

Project management skills are essential competencies required to complete a project from start to finish. Regardless of the industry you work in, these are highly sought-after skills as it ensures the completion of the project on budget and on time.

Leaders with project management knowledge can successfully provide strategic direction by clearly stating a goal or vision and then frequently tracking team progress toward that agreed-upon goal.

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Why project management skills are necessary for CEOs?

Project management skills may seem like another trivial matter exaggerated out of proportion by the media, but it is, in reality, a set of skills that can put you ahead of everyone else.

The ability to put out results with only a set few sources may not appear to be a big deal, but not everyone is capable of it.

A few important aspects of project management skills are;

1. ? ? Excellent verbal and written skills

Making yourself understood, both verbally and in writing, is vital when planning a project. Everyone involved in an operation needs to be able to understand what you are saying or what you have written. So, you need to learn how to communicate your ideas clearly and concisely. Obviously, this is a skill that’ll help you progress in any job.

2. ? ? Working on deadlines

Deadlines are a regular feature of many jobs, even those where you think they’re not that important. Only someone with good management skills can handle the stress of working under tough deadlines, and also help their team keep a level head.

3. ? ? Problem solving skills

To actively understand and solve work-place problems, whether they’re professional or among employees, one must be able to comprehend information quickly. Management skills come into play when complex problems need to be broken down and the solution has to be communicated to the team.

4. ? ? Dependability and Leadership

A Leader is the one who you can trust to remain calm in a crisis and have a solution to your problems. The Leaders who are good at management skills not only avoid difficult professional situations but also earn the respect of their workforce through their dependability.

Project management is critical to your business success. In fact, according to a McKinsey survey , almost 60% of senior executives responded that developing a strong project management discipline is a top-three priority for their organisations as they look to the future.

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Undesired feelings/Beliefs & Impact of believing it

In project management, 10% corresponds to the project itself, the remaining 90% corresponds to the way the project is set up and how problems are solved.

Many Leaders understand the importance of project management skills, but they’re unable to focus on them because they aren’t part of their priorities.

Some of the common reasons are;

1.? ? ? Lack of communication

The biggest set-back when it comes to good project management, is when there is a lack of communication between the Leader and their team.

The Leader may feel like they have communicated their course of action well, but the team may not understand it. Or the Leader may be unapproachable and the team might not be able to ask necessary questions or make observations that are necessary.

2.? ? ? Leaders may feel like it’s a waste of time

Improving one’s management skills may feel like a waste of time to some CEOs. But just because they’ve been doing well at managing their business, doesn’t mean there isn’t room for improvement.

The importance of project management in organisations can't be overstated. When it's done right, it helps every part of the business run more smoothly.

3.? ? ? Lack of information about its importance

Most commonly, CEOs and Leaders ignore the need to better their project management skills because they are unaware of its advantages.

A common criticism of project management methodology is that it is cumbersome, paper intensive, and takes too much focus away from the work at hand. But with technological advancements, that is no longer an issue.

Leaders don’t realise the competitive advantage good management skills can give them. When they are capable of breaking down their goals, communicate the strategy to their team, and arrange their resources effectively to complete projects within the deadlines, nothing can stop their business from thriving.

Desired feelings/ Beliefs and Positives of shifting to this Pattern

Project Management has various advantages that aid in the streamlining of project activities, the reduction of potential hazards, and the improvement of project performance.

It enables you to allocate resources, tasks, and accountability effectively ensuring that issues such as scope , budget, and time are not compromised. When done right, a well-balanced workflow can help your business achieve goals, increase ROI, as well as scale.

Some of these advantages are listed below;

1.? ? ? Clarity on Responsibilities and Accountability

A project's success can't be guaranteed when teams don't understand what they need to do. With project management, you have clarity of objectives that direct your efforts towards a predefined business goal.

2.? ? ? Effective Risk Management

Every single project comes with its fair share of risks and challenges. It can be supply delay, cosy overrun, delayed tasks, scope creep, etc.

But when you are able to anticipate what might go wrong, it becomes much easier to implement effective solutions for risk mitigation and resolve bottlenecks even before they occur.

3.? ? ? Optimised Resources Allocation

A good project management system gives a bird’s eye view on workload that can help distribute the workload evenly, as well as make informed decisions pertaining to scheduling your resources. This can help save time, and cut down on costs while delivering on time.

3 Action Steps to Improve Project Management Skills As An Executive

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1.? ? ? Collaboration and Communication

When working across multiple teams and departments, it’s important to create a work environment that’s collaborative and transparent.

Communication is the first step to improve your management skills as a Leader! When your team is on the same page as you, you can combine your skills to the max to tackle the project.

2.? ? ? Clear focus and objectives

Be honest with your tem. Get clear on the results you’re striving for, and the time frame in which they have to be achieved.

There should be a clear hierarchy and everyone should know the role they play in that particular project.

3.? ? ? Realistic goals and deadlines

Keep your goals realistic and within the reach of your current resources. An impossible goal will not only increase the pressure on your whole team, but ultimately lower the morale of your business.

Take up a plausible project, with a deadline your team can work with. Successfully finishing up smaller projects can build up the confidence you need to take on a large scale venture.