Reflection of the Aspects of Project Management on my Career
According to the Project Management Institute in 2017, the demand for hiring project management professionals is higher than other jobs, and as the report says of 2027, employers around the world need approximately 88 million project management roles (“Project Management Job Growth and Talent Gap,” n.d.). Availability of open positions is only part of the professional path of project management; The considerable salary of this job is another advantage of it. In 2018, the average annual salary of project managers with a PMP degree in the United States was $ 119,235, which is $ 20,000 more than the salaries of managers without a PMP degree (“Project Management Certification Online,” n.d.). Job opportunities and potential income are two important factors that people should consider before choosing a career path, and project management will score well in both areas.
For the next ten years, I am going to establish a startup and own my company. Project management is composed of complex processes that require a wide range of skills. A project manager usually has experience and knowledge in many areas. Many skills a project manager owns are useful in managing a business. Some qualifications for success are soft skills. These skills are helpful, but they do not affect your success or failure. However, there are other skills that are critical to achieving goals, and if someone wants to succeed in his career, he needs to maximize those skills. One of these essential skills is the ability to manage various aspects of a project in its different phases. Project management is an essential skill, and its application is not just for factory building and massive skyscrapers. Every time a person enters a supermarket for shopping, he is involved in a project. Even if you want to go out in the evening with someone, you are organizing and planning a project. The ability to organize and successfully complete a project is an important competence for success in businesses.
How it works
I think the initiation phase techniques and tools in a project are more critical for my startup since it helps me to do a feasibility study and find whether I should or should not start this business. In addition, in this phase, I am able to recognize what is the requirement of my business and whether my business will be financially justified, using tools like net present value (NPV) or rate of return (ROI). The planning phase is another essential part of any project or business. A startup requires meticulous planning to succeed. Before a company reach the stage of continues production, it is more like a project. The work should be decomposed to pieces in a distinct work breakdown structure process, and each activity should be scheduled accordingly. The managers should be aware of which activities on the critical path and pay attention that if they are delayed the final product that the company with which want to start its operation is affected. Therefore, in my future startup planning phase and tools like WBS and Gantt chart play an important role. The project execution phase has many similarities with starting the activities of a startup. While in a project, a project team is developed, in a startup, a company hire employees and create a team to implement a new business model. Startup owners usually have constraints in resources like the human or financial resource. The resource allocation and management techniques of project management could help them efficiently and effectively use their resources. Quality planning and quality control is another skill that could help me in my career as a startup founder. A startup’s product should have higher quality in comparison to substitute products since it wants to penetrate the market. The project management’s quality knowledge area provides the expertise needed for quality assurance. A startup usually regarded as a risky venture, and planning and managing the risks associated with the development of a new product or service is an important part of it. In many projects, the product is unique, and there are many risks associated with it (e.g., a new refinery or a new operating system); hence the risk management techniques used in project management could be applied to a startup company too. I dream of having a business of my own in ten years, but reaching that point requires having the right knowledge and experiences. I have gathered a lot of expertise through the years and the MBA degree in general, and the Project management course, in particular, give me the required skills needed to start and manage my business.
In conclusion, project management professional could enjoy a higher income with better job opportunities. I want to own my business in the following ten years and found a technological startup. A startup in many ways has many similarities with a project, and many tools and skills that are used in the project management could be applied to a startup. For example, they are both unique endeavors that go through similar phases from initiation to planning and execution. In addition, they share common knowledge areas like quality and risk management and planning tools and techniques like Gantt chart and WBS apply to both.