According to the 2017 Project Management Job Growth and Talent Gap Report conducted by the Project Management Institute (PMI), an average of 2.2 million new project-oriented roles will need to be filled by employers each year through 2027.
PMI®-sponsored research with the Anderson Economic Group found that while there are some areas that have scaled back, such as financial services and the automotive industry, many other fields are expanding, including healthcare, infrastructure development and green technologies. “The demand for project managers is definitely growing,” said Sheree Rulard, senior recruiting consultant for Beeline RPO, a workforce solutions firm with offices in the United States, United Kingdom and Canada. The two main factors contributing to this increased need for project managers are:
There’s good news for project managers, according to Spencer Shaffer, president of IT staffing firm ConsultNet of South Jordan, Utah. Shaffer says that, “Experienced IT professionals and project managers will be landing more assignments because companies will be launching new projects and completing others put on hold.” He expects that many of the IT projects that have been shelved will now forge ahead.
This could mean there will be thousands of projects moving forward now that decision-makers are spending prudently and proceeding with projects cautiously. The Project Management Institute® (PMI®) expects the future to be bright, with the global gross domestic product (GDP) in projectized industry anticipated to increase in the United States by $4.5 trillion by 2016. PMI reports that, “Between 2006 and 2016, the number of project-oriented employees will grow by an estimated 8.2 million.” Qualified project managers will be able to benefit from this exceptional employment opportunity.
Unlike department managers who oversee particular areas of a business, project managers are responsible for all aspects of a time-limited, specific business initiative. Some examples:
Although project manager job descriptions will reflect the specific needs of the company, the project manager will generally plan, coordinate, implement and finalize projects according to the specifications and deadlines, all while keeping the project within budget.
Depending on the industry and specific initiative, project managers may put together teams of personnel from a number of departments, such as information technology, purchasing, product development, marketing or distribution.
Project management professionals oversee projects from the planning stage through implementation, testing and reporting. They typically choose and manage the project team members, and are ultimately responsible for the project’s success or failure, based on objectives set by project stakeholders. Success may depend on whether the project is completed within the financial budget allocated or the established time frame – or whether it is completed at all.
Project management professionals can greatly benefit from excellent communication and interpersonal skills. Strong leadership and multitasking abilities, as well as a knack for scheduling and finance, are also valuable attributes for success as a project manager.
See what these experienced project managers have to say about a career in project management!
Click on their picture to read the full interview.
According to the PMI® Project Management Salary Survey, 51% of project manager practitioners reported an increase in their total compensation, with the global median salary reaching $90,260. Project Management Professional (PMP®) credential holders earn upwards of $10,000 more than non-credential holders, with median salaries in the United States now exceeding $100,000, according to the survey.
To provide an idea of how lucrative this field can be, take a look at these job titles and average salaries for these project management jobs, collected from a leading online job website:
|Job Title||Average Salary|
|IT Project Manager||$113,038|
|Senior Project Manager||$111,691|
|Construction Project Manager||$110,988|
|Technical Project Manager||$113,276|
|Project Management Institute Project Management Salary Survey, 9th Edition|
Today’s top corporations compete in a more complex business environment than ever before. Employers need to know that the project managers they hire are fully qualified to lead their most important business initiatives. Therefore, most major companies and countless small- to mid-sized firms are requiring project management certification.
The most widely-recognized and respected credential in the profession is the Project Management Professional (PMP), awarded by the PMI. PMI developed industry standards to ensure businesses that certification holders have pursued project management education and can demonstrate a high degree of knowledge and skill. Certifications can be valuable, as they represent a high level of competency and dedication. It has become increasingly common to see PMI certifications as a job requirement. A PMP certification can also increase salary.
Certification in project management helps validate your ability to lead business projects, and it can earn you the respect of peers and employers. With the PMP credential on your résumé, you’ll be able to compete for top project management positions. Earning your project management certification online can be the key to advancing in your career, reaching your goals and experiencing a higher salary potential.
Gain critical knowledge to lead successful projects with Villanova University’s online Project Management certificate programs. Supporting the latest Project Management Body of Knowledge (PMBOK® Guide – Sixth Edition), Villanova offers the most current information in a dynamic online classroom. By earning your Certificate in Project Management and attaining PMI certification, you’ll be on a path to job security, professional growth and better pay potential. Choose from these online certificate programs:
Gain critical knowledge to lead successful projects with Villanova’s online Project Management certificate program. Acquire vital project management skills at your convenience and apply what you’ve learned immediately on the job!