What is Project Management?

A project is an activity done in a specific interval of time and has a defined scope and outcome. Therefore, project management is the initiation, planning, and management of the efforts to accomplish a project. According to the PMI(Project Management Institute), ” Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.” It aims at producing an outcome that will benefit the organization stimulating the project.

Examples of project management may include developing a new computer system, renovating a house, or constructing a building. However, the scale and complexity of a project require different management techniques.
What is a project manager?

A project manager is a professional who supervises a project and makes sure the project gets completed on time and within budget. They develop and execute a plan to produce a deliverable project that meets the expectations of the stakeholder. They are also responsible for managing the individuals working on the project. Project managers exist in every type of organization.

Phases of project management In general, the project management process goes through five phases:

1. Initiation:

2. Planning:

3. Execution:

4. Monitoring and Controlling:

5. Closing:

What are the Project Management Knowledge Areas?

According to PMI, project management knowledge areas coincide with the phases of project management, also known as process groups. The process groups are horizontal, and the knowledge areas are vertical. There are ten knowledge areas necessary for effective project management:

1. Project integration management:

Project integration management holds a project together. It includes fundamental plans and tasks that put the overall project together.

2. Project Scope Management:

It involves the project scope that is the work included within the project. You will need to create a management plan that manages, defines, validates, and controls scope. It can be in the form of a sentence or a bulleted list. This process is to ensure that everyone understands the tasks that they have been assigned in the project and to prevent unexpected changes.

3. Project Time Management:

It is the area in which the project manager divides the projects into tasks and creates a schedule and budget for each task. It involves plan schedule management that contains information about creating a schedule and determining the responsibilities of each individual from the team.

4. Project Cost Management:

Project cost management includes establishing a budget and determining the criteria or control procedures for any change to the budget. The cost of everything, from the resources, labor, material, equipment, or any other item nursery to complete the project has to be estimated.

5. Project Quality Management:

The goal of project quality management is to ensure that the deliverables conform to the quality standards. It can be a section or a stand-alone document that contains quality specifications for the product or service.

6. Project Resource Management:

This area requires to assemble a team and assign tasks to each of the members based on their strengths, weaknesses, and their synergy with other team members. It also requires tracking the performance of each individual to ensure that the project progresses as planned.

7. Project Communications Management:

Project communication management involves regular communication with stakeholders such as progress updates or any unexpected project changes to keep them in the loop.

8. Project Risk Management:

This area identifies the risks to the project by placing them into a risk register. It requires monitoring and controlling the risk events and making risk management plans so that they don’t impact the project.

9. Project Procurement Management:

It deals with outside procurement such as hiring subcontractors and assigning them their tasks or services. It involves a statement of work, terms of reference, request for proposals, and choosing a vendor.

10. Project Stakeholder Management:

This area lists each stakeholder and prioritizes their concerns and their impact on the project. It is necessary to address the needs of the stakeholders to ensure smooth project execution.

Rising Global demand of Project Managers – An Opportunity knocking

The Project Management Institute expects 87.7 million individuals in project management oriented roles in the top 10 economies across the world by 2027. Project managers are in huge demand in every sector. Some of the leading sectors where the job opening would be more are:

• Manufacturing and Construction

• Information Services and Publishing

• Finance and Insurance

• Management and Professional Services

Project managers also have good earning potential. If you have obtained expertise in your area, you can get higher compensation. Also, every project is unique and requires different management, so the work of a project manager never gets monotonous.

It’s said that project managers get the same level of training as a CEO because both require good analytical skills. So, there is a high chance of reaching a great height in your career as a project manager.

General admission requirements to study Project Management in Canada
To study project management in Canada, a student must fulfil some eligibility criteria mentioned below:

• A four-year bachelor’s degree from a recognized institution or equivalent

• A three-year bachelor’s degree for post graduate certificate and diploma programs 

• Some universities in Canada require an acceptable scorecard of GMAT or GRE examination in the last five years. It depends on what field you choose to study.

• A valid English Language proficiency score from IELTS, PTE, or TOEFL. Different institutions have different language requirements. The student has to check the language requirement of the university he or she is applying to.

• Students from various academic back ground can study project management in Canada 

• Students with a professional experience of 2-5 years are also eligible for admission to a graduate certificate or diploma program in project management. 

The students who have completed their post-graduate certificate or diploma in project management in Canada earn credits upon the completion of the course. They can use the credits to get admission to the master’s program. The students can get these credits assessed from the university granting the degree. These credits get transferred for the related course they want to take up in the master’s program. Usually students can study Master of Business Administration or Master of Management.

Type of courses in Project Management in Canada

There are different types of Project Management courses offered in Canada, such as:

• Construction Project management

• IT Project management

• Biotechnology Project management

• Engineering Project management

• Project management in Environmental Studies

• Localization Project Management

Project Management courses in Canada are usually a 1-2 year program offered as a graduate certificate, diploma, or a master’s degree. Since there are project managers in every field, students from various academic backgrounds such as commerce, management, engineering, IT, medical or health can choose to study the Project Management course.

Subjects in Project Management in Canada

• Introduction to project management Overview of project management- Project selection and Planning

• Project (Budgeting, Controlling, and Monitoring)

• Project Risk Management

• Project Auditing and Quality Management

• Legal aspects 

• Case Studies

Apart from the above common subjects, specialized courses also teach like construction planning, project management for engineers, environmental law, and risk management.

Career Opportunities after Project management in Canada

• Project Manager – Project Manager, Information Technology (IT), Construction

• Senior Project Manager, IT

• Operations Manager

• Project Engineer

• Program Manager

• Project CO-coordinator

• Project Analyst

Usually, project managers in Canada work within the following industries:

• Construction

• Engineering

• Architecture

• Computing

• Telecommunications

• Healthcare

The average salary for project managers in Canada

The national average salary for a Project Manager is $80,000 in Canada. Entry-level positions start at around CA$44000, whereas the most experienced earn CA$125000 and more.

Based on the program of study and semester organization, students can earn professional certifications. They may wish to write the Certified Associate in Project Management (CAPM)® Certification Examination or
Project Management Professional (PMP)® Certification Examination. Both certifications are registered trademarks of Project Management Institute, Inc.
Interesting facts about project management 

1. Did you know if you are a Project Manager with a Project Management Professional Certification, you could get an average salary increase of almost 15%? 

2. Two-thirds of companies are communicating with clients using project management software.