Updated June 05, 2023
A project manager is a person within a company in charge of overseeing a discrete project for the firm. Project managers have responsibility for all aspects of a particular project, and as such will often have supervisory powers over other employees. On the other hand, because of their focus on individual projects, they may not play dominant roles in shaping broader company strategy.
Salary (Median Pay)
For project management specialists:
- Salary: $77,420/yr
- Hourly Rate: $37.22/hr
Source: Bureau of Labor Statistics
Duties and Responsibilities
- Set goals and objectives for a project;
- Establish schedule and periodic deadlines;
- Develop a budget for project phases and duration;
- Serve as primary conduit for communications with rest of firm or with external client;
- Bring together other workers with different skillsets;
- Monitor and document team progress;
- Resolve disputes among project members; and
- Motivate members of the project team.
Qualifications
- Entrepreneurial mindset;
- Little need for supervision;
- Friendly yet firm personality;
- Good understanding of financing and risk management;
- Highly organized; and
- Willingness to delegate rather than micromanage.