Job stability and growth are one of the top priorities for people starting their careers in any field. If it is your priority too, then you can consider stepping into the world of project management. One of the fastest-growing professions across the world, project management basically guides the path from the beginning to the end of the project. Seasoned project managers are invaluable to project-based processes accomplished by teams of workers. They manage the project’s timeframe, scope, and budget as the team members work to meet the objectives.
An organization’s success or failure depends largely on the project manager’s skills, collaboration, teamwork, problem-solving capability, and competency. Such a professional acts as a bridge between upper management and outside clients, customers, and vendors. With effective communication, they can handle tough situations and solve various business problems that arise during different phases of the project. Companies are in dire need of these strong leaders to achieve their goals on time, productivity, sales, and profit.
Talented project managers are more likely to perform at their best when they undergo a Project management course. Online training programs offer personalized knowledge and have increased value in the job market. They provide a standardized overview of your expertise and knowledge of project management, improve your motivation, and help you through your career path to the next level. But before enrolling in a project management course, you must be wondering if it’s really worth it. Are project managers actually in high demand? Well, read on to find out!
Demand for Project Managers in India
Companies across the world view India as one of the key markets from where future growth is likely to emerge. With around 20% of global GDP being invested in infrastructure and construction projects, the demand for certified project managers is set to explode. In the emerging competitive global economy, project management is a skill set for which there is huge and rising demand. In countries like India, project managers are pivotal players in sectors like engineering, construction, manufacturing, architecture, and real estate.
However, career opportunities for project managers exist beyond these traditional sectors. For example, in the information technology industry, project managers are handling responsibilities that include developing new technologies, launching new products, and managing collaborative programs with strategic partners. Those professionals who have analytical thinking, multi-tasking capability, and excellent communication skills ensure that everything comes together within cost and time frames.
As mentioned in one of the PMI (Project management Institute) articles, India needs to create infrastructure like never before, and government initiatives like Digital India, Make in India, and Smart Cities have a high dependency on infrastructure for their success. The government would need to work on multiple mega projects at a high speed to meet the demand. And project management is crucial for the successful implementation of such large projects. In light of this trend, the demand for certified project managers is increasing every year.
An AEG (Anderson Economic Group) analysis commissioned by the PMI found that the project management position will outperform total global job growth over the next decade, creating millions of job vacancies in India that pay highly competitive salaries. These findings were described in one of PMI’s reports ‘Project Management Job Growth and Talent Gap 2017-2027. This report highlighted that the labor force related to project management would grow by 33% across 11 countries. There would be around 22 million new jobs in this field by 2027 and employers will need over 88 million professionals working in project management-related roles.
As far as India is concerned, the report mentions that there would be 7 million new project management jobs open for professionals in project-based industries by 2027. This is the largest growth (of 48%) of the 11 nations considered in the report. Moreover, India will have the second-largest number of project management-based jobs in the world, next only to China.
As the demand for project managers has been increasing exponentially in the past decade, there are ample career opportunities in conventional infrastructure and construction companies. The remuneration packages range between Rs. 7 lakhs to 10 lakhs per year for entry-level professionals. The salary figures in middle management range between Rs. 10 lakh to Rs. 14 lakh, and Rs. 14 lakhs to Rs. 20 lakhs for senior management varying from industry to industry.
Become a Project Manager Today!
Now that you are convinced that project management is an in-demand career, you should start honing your skills. The best way to prove your project management skills is by achieving a PMP certification. Offered by PMI, the PMP or Project Management Professional is a globally recognized certification in this field and helps take your career to new heights. The certification proves your ability to bring projects to successful completion and working in virtually any industry. It shows that you can speak the global language of project management.
The greatest advantage of working as a certified project manager is that you have a variety of industries to work in – healthcare, information technology, finance, BPO, law, and more. Additionally, you can command a higher salary than your non-certified peers. So, are you ready to start a project management career?