Modern businesses are under constant pressure to execute intricate projects swiftly and efficiently. That’s why the need for adept project managers has never been greater. A Northeastern University analysis of job market trends predicts an 11% growth in project management positions by 2033, and the Bureau of Labor Statistics states that project managers already can expect to earn an average salary of $98,580.
However, despite these promising figures, many organizations are grappling with talent shortages.
This gap presents a wealth of opportunities for project management professionals who possess the essential skills that employers are actively seeking. Are you prepared to capitalize on this demand? Or maybe you are looking for insights that will help you strengthen your team… Click below to access our latest whitepaper, where we present the findings from an extensive study involving over 1,500 project managers from diverse sectors and organizational scales.
Through a comprehensive survey and a realistic project management simulation, we assessed project managers’ skills, uncovering the challenges these professionals face in developing their expertise.
Project Manager Skills Evaluation Methodology
Our research methodology was developed to fairly evaluate a number of skills we find essential for effective project management.
Before we dive into our findings, let’s clarify what we mean by soft and hard skills:
- Soft skills are interpersonal attributes that enable managers to communicate effectively, lead teams, and build relationships.
- Hard skills are technical abilities that are specific to a particular job or industry.
Both skill sets are crucial for effective management, but they serve different purposes in the workplace. First help foster a positive team culture and create an environment where team members feel valued and understood.
Second, equip managers with the technical know-how to streamline processes, improve efficiency, interpret data, and make informed decisions that drive business success.
We tried to create a structured assessment framework that provides a comprehensive overview of both soft and hard skills needed for effective project management and serves as a foundation for evaluating current capabilities and identifying areas for development within project management practices.
The quiz consisted of carefully crafted questions aimed at assessing various dimensions of soft skills like emotional awareness, optimism, and self-control.
The simulation, in turn, presented the participants with scenarios requiring strategic decision-making and problem-solving. It was designed to mimic real-world challenges faced by project managers, allowing respondents to demonstrate their technical competencies, such as risk assessment and stakeholder analysis.
We recorded the performance metrics from the quiz and simulation to get quantitative data on participants’ effectiveness in the selected areas and analyzed the voluntarily provided information regarding their backgrounds using public and proprietary company registers and traffic analytics tools.
A Sneak a Peek Into What We Have Found
We revealed that flexibility, self-control, and leadership are the strongest soft skills for project managers across all locations, industries, and company sizes, which is not surprising, as employees who can adapt to changing circumstances, maintain composure under pressure, and inspire their teams are more likely to drive projects to successful completion.
Risk assessment, budget management, scheduling, prioritization, and time management were the strongest hard skills, allowing projects to be delivered on time and within budget.
However, we believe that to see the full picture, you need to understand not just your employees’ strengths but also the gaps that could hinder success.
Here’s why this exploration is vital:
- By assessing the skill sets of your managers, you can implement targeted training programs that address specific gaps.
- When you understand the skills landscape of your employees, you can align training initiatives with broader business objectives.
- Organizations that prioritize skill development stand out to potential candidates.
What else you will find in the study:
- Top 10 of the project managers’ soft and hard skills.
- Unique characteristics of the project managers from different company sizes.
- The demographics of our participants that showcase the project management best practices in different countries.
Download the white paper to access the full insights and discover how you can cultivate these rare skills to enhance your project management prowess!
