What is the Real Responsibility of a Project Manager?

Project Management Academy

17 Jul 201302:29

Summary

TLDRThe video emphasizes the strategic role of a project manager, akin to a CEO, in achieving business results. It highlights the importance of not just meeting time, budget, and scope goals, but also focusing on execution excellence, adaptation, business focus, and inspiring leadership. This holistic approach transforms project management into project leadership, ensuring success through a combination of these elements.

Takeaways

📋 The primary role of a project manager in strategic project leadership is not only to meet time, budget, and scope goals but also to achieve business results.
🌟 A project manager is more than a manager; they are a leader, akin to a CEO, responsible for the overall success and business outcomes of the project.
🔑 The concept of being a 'CEO of the project' shifts the perspective of project management from a mere activity to a strategic endeavor aimed at business creation through teams.
🛠 Execution excellence is fundamental, but it must be combined with other elements for successful project leadership.
🔄 Adaptation is crucial; the project must be tailored to fit the right context to ensure success.
🎯 A strong business focus is essential for a project leader, requiring strategic thinking over operational.
📈 Project leaders need to develop their own project strategy and understand the business context to drive the project towards achieving business results.
💡 Inspired leadership is vital; project leaders must learn to inspire their teams to foster a culture of innovation and commitment.
🔗 Project leadership involves a combination of execution, adaptation, business focus, and inspired leadership—all of which are necessary for a successful project.
⚠️ The absence of any one of these elements can lead to project failure, highlighting the importance of a holistic approach to project management.
🚀 Project leaders are energized and intelligent individuals capable of grasping and implementing the complex but achievable aspects of strategic project leadership.

Q & A

What are the primary responsibilities of a project manager in strategic project leadership?
-In strategic project leadership, a project manager is responsible for meeting time, budget, and scope goals, but also for achieving business results, which is the ultimate goal.
Why is the project manager described as a leader and not just a manager?
-The project manager is described as a leader because they are responsible for achieving business results, which requires a strategic mindset and the ability to inspire and guide the team, similar to the role of a CEO.
How does the role of a project leader compare to that of a CEO in a company?
-A project leader is likened to a CEO because both are responsible for ensuring the success and achievement of business objectives within their respective domains.
What is the significance of viewing project management as a creation of business through teams?
-Viewing project management as a creation of business through teams emphasizes the importance of collaboration, strategic planning, and a business-focused approach, rather than just completing tasks.
What are the key elements that a project leader, as a 'CEO of the project', needs to combine in their work?
-The key elements a project leader needs to combine include execution excellence, adaptation to the right context, maintaining a business focus, and providing inspired leadership to the team.
Why is execution excellence not enough for a project leader to achieve success?
-Execution excellence alone is not enough because it does not encompass the strategic thinking and business-oriented approach required to achieve the broader business results beyond just completing the project.
What does 'adapting the project to the right context' mean in the context of project leadership?
-Adapting the project to the right context means understanding and responding to the specific environment, challenges, and opportunities that the project faces, ensuring that the project strategy aligns with the current situation.
How does a project leader maintain a business focus while managing a project?
-A project leader maintains a business focus by thinking strategically about the project's impact on the business, aligning project goals with business objectives, and making decisions that drive business value.
What is the importance of strategic thinking in project leadership?
-Strategic thinking is crucial in project leadership because it allows the project leader to consider long-term goals, anticipate changes, and make decisions that will contribute to the overall success and sustainability of the business.
How can a project leader inspire their team to achieve business results?
-A project leader can inspire their team by setting a clear vision, communicating effectively, recognizing achievements, fostering a positive work environment, and empowering team members to take ownership of their work.
What are the potential consequences if a project leader fails to combine the necessary elements of project leadership?
-If a project leader fails to combine the necessary elements, the project may fail to achieve its intended business results, leading to wasted resources, missed opportunities, and potential damage to the organization's reputation.

Outlines

00:00

📚 Strategic Project Leadership and CEO Mindset

The first paragraph emphasizes the evolution of the project manager's role from a mere manager to a strategic leader, akin to a CEO. It discusses the importance of achieving business results beyond traditional project goals of time, budget, and scope. The project leader, as the 'CEO of the project,' must focus on execution excellence, adapt the project to the right context, maintain a strong business focus, and inspire leadership within the team. The speaker highlights the shift in perspective from project completion to business creation through teams, and the necessity of combining these elements for successful project leadership.

Mindmap

Keywords

💡Strategic Project Leadership

Strategic Project Leadership refers to the approach where a project manager not only meets the traditional goals of time, budget, and scope but also focuses on achieving broader business outcomes. In the video, it is emphasized that a project manager should act as a leader, akin to a CEO, ensuring the project delivers on its intended business impact, which goes beyond mere completion.

💡Project Manager

A Project Manager is traditionally seen as an individual responsible for the planning and execution of a project, ensuring it meets its time, budget, and scope goals. However, the video script redefines this role, suggesting that a project manager should also be a leader who drives the project towards achieving business results, much like a CEO would for a company.

💡Business Results

Business Results are the ultimate outcomes or objectives that a project aims to achieve, which can include financial gains, market share, customer satisfaction, or strategic advantages. The video script highlights that the project manager's role extends to ensuring these business results are realized, indicating a shift from mere project completion to value creation.

💡CEO

In the context of the video, the term CEO is used metaphorically to describe the role of a project leader. Just as a CEO is responsible for the overall success and strategy of a company, a project leader is considered the 'CEO of the project,' responsible for its strategic direction and business outcomes.

💡Execution Excellence

Execution Excellence is the traditional focus of project management, emphasizing the efficient and effective completion of a project according to plan. The video script mentions it as one of the elements that a project leader must combine with other aspects like adaptation and business focus to achieve strategic leadership.

💡Adaptation

Adaptation in project management involves adjusting the project plan or approach to fit the changing context or environment. The video script suggests that a project leader must be adept at adapting the project to ensure it remains aligned with the business goals and can respond to unforeseen challenges.

💡Business Focus

Business Focus is the orientation of a project towards achieving business objectives rather than just operational milestones. The video script underscores the importance of a project leader thinking strategically about the business implications of their project, which is crucial for achieving the desired business results.

💡Strategic Thinking

Strategic Thinking is the ability to make decisions and plans with a long-term perspective, considering the broader implications and goals of the organization. The video script implies that a project leader must engage in strategic thinking to align the project with the business context and to drive it towards achieving business results.

💡Inspired Leadership

Inspired Leadership is the ability to motivate and inspire a team to work towards a common goal. The video script mentions that a project leader, acting as a CEO, must learn to inspire their team, which is essential for fostering a collaborative and high-performing project environment.

💡Combination of Elements

The video script speaks about the necessity of combining various elements such as execution excellence, adaptation, business focus, and inspired leadership for successful project leadership. This combination is crucial because neglecting any one of these aspects could lead to project failure.

💡Energized People

Energized People refers to individuals who are motivated and enthusiastic about their work. The video script suggests that project leaders are typically energized individuals who can embrace the complexity of strategic project leadership and are capable of driving projects towards success.

Highlights

The project manager is responsible for meeting time, budget, and scope goals.

Project managers should be leaders, not just managers, focusing on achieving business results.

Strategic project leadership involves more than just completing the project; it's about creating business value.

A project leader is like a CEO, ensuring the project achieves its business objectives.

The role of a CEO in a company is to ensure business success, and similarly, a project leader is the CEO of their project.

Project management is transformed from an activity to a strategic leadership role.

Project leaders need to combine execution excellence with adaptation to the right context.

Adaptation is crucial for aligning the project with the appropriate business context.

Business focus is essential when managing a project for business results.

Project leaders must think strategically about the business to achieve desired outcomes.

Leadership involves inspiring and motivating the team to achieve project goals.

Inspired leadership is a key element in the combination of skills needed for project leadership.

Project leaders are energized and intelligent, capable of mastering the complex role of project leadership.

Combining execution excellence, adaptation, business focus, and inspired leadership is critical for project success.

If any of these elements are missing, the project may fail, highlighting the importance of a comprehensive approach.

Project leadership is a dynamic and complex role that requires a multifaceted skill set.

The concept of project leadership as a CEO role simplifies the understanding of the responsibilities and expectations.