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5 Essential Technical Skills for a Project Manager

Project managers are required to have a unique skill set. When it comes to the required skills, they need to be the jack of all trades and master of one — project management. Project managers have the responsibility of ensuring that the project planning, execution, and procurement is done according to plan. This requires having certain set of skills that can ensure successful completion of the project.

Here are five essential technical skills that every project manager should possess to ensure that smooth operations and successfully delivery of the projects.

1. Budget Preparation

Preparation of the budget is an essential skill that should be learnt by the project manager. The project manager should be able to estimate the project requirements, identify the budget variances, and budget calculations. In addition, the project manager should know how to forecast based on accurate assumptions. The resources should be allocated proportionally to different phases based on the cost estimates.

2. Technical Report Writing

A project manager should have technical report writing skills. The manager should be able to prepare the reports in order to effectively communicate the project performance to the customers. The project manager should calculate and analyze the variances related to a project and prepare reports. The variance report can act as a benchmark to make improvements in both the budgeting and actual performance.

3. Cost Management

Money is involved in every type of project. Cost management is about managing the costs in a way that results in maximum benefits to the clients. Managing costs requires knowledge of basic cost accounting. It involves knowing how to calculate gross profit, ROI, WIP cost, and other project management related costs. Having good cost management knowledge will allow you to efficiently manage the costs and squeeze cents out of the limited funds.

4. Task Management

Project managers should also know how to use a task or work management software. They should know the use of Gantt chart and other task management tools in order to successfully complete the project. Tasks are like mortar that keeps the building together. Without effective task management skills, you won’t be able to effectively manage the project. It’s an essential project management skill that should be part of the DNA of every project manager.

5. Control Measures

Project managers should also know about the control measures that can help monitor work performances. They should know how to use the metrics to ensure that work is being done according to the plan. Make sure that the tools can accurately measure the results so that you can take timely action to correct any deviance.

The above are the most important skills that a project manager must possess. Make sure that you have these skills to manage project effectively. Having the skills can ensure that you are able to effectively collaborate with the team and see that the projects complete successfully.