Purchasing Resources for Project Management Training

Project Management Training

Business industry surveys underscore the critical role project management training plays in increasing operational efficiency and reducing project costs. Properly trained employees recoup the expenses involved in training through the money saved applying their new expertise. A guide to project management training is a helpful resource for business managers who want to select the proper curriculum for their team, or professionals who wants to increase their competitiveness in the job market. Options for training run the gamut of in-house, classroom, and online delivery methods, each with its own pricing structure. The quality of the instruction and certification options offered are part of the value determination that is explained and compared in this guide.

Benefits

As a manager tasked with solving the operational challenges of your company, you can take advantage of proven industry standards to facilitate creative problem-solving and project implementation. A professional educated in correct project management techniques brings substantial benefits to the business.

Reduced Costs for the Company

While project management training requires an initial investment, the cash outlay can be recouped quickly, especially through large projects. A 2011 survey by the consulting firm Project Management Solutions estimates that trained professionals are 25 percent more likely to keep a project within its budget. That cost savings is enhanced by a 25 percent increase in quality and productivity and a faster time to market for new products, system enhancements, and software rollouts.

Higher Salaries for the Project Manager

The financial payoffs from a well-run project are often passed along to project managers in the form of pay raises, promotions, and bonuses. These higher salaries attract and retain talented individuals who continue to benefit the business. The Project Management Institute states that trained and credentialed individuals earn 13 to 17 percent more than non-credentialed individuals. Furthermore, the PMP Training Center reports that well-qualified program managers can earn up to 50 percent more than an equivalent project manager.

Connections with Current Challenges

Trained project professionals understand how to identify issues, gather requirements, and manage a project in a way that meets stakeholder expectations. Instead of being distracted by the learning process throughout implementation, the project manager can concentrate on solving organizational problems.

Better Lines of Communication

While untrained project managers may be stuck in the day-to-day business of tracking team member progress and reviewing budget reports, the trained project manager understands the executive committee has different priorities. Project managers who have completed training courses know when status updates are expected, what they should include, and what topics warrant emergency review. The business is able to stay informed of the progress while the project manager is able to display his or her control of the situation.

Pitfalls

Ensuring that your managers are trained to handle projects is essential for running a successful business and increasing productivity. Career individuals seeking to become project managers should be aware of the right way and wrong way to do it.

New Employees

Once well-qualified employees are trained to become project managers, they will be able to confidently handle different company objectives. As they familiarize themselves with more and more tasks, project managers become more attuned to the business’ objectives and how best to manage its resources. While project managers can be invaluable resources to any company, business owners should be prepared for employees who may have to leave the company for any reason. When one employee leaves, another individual will need to be trained to take over the departing employee’s place. Project management training can be an ongoing investment for businesses.

Cost of Training

Project management training can be undertaken through virtual online courses, software, or in-person classes at nearby colleges. Depending on the type of certification you seek and the extensiveness and quality of the classes, which can range from a couple of hours to weeks, project management training can be somewhat costly if your company is not fronting the costs. However, the advantage of having a project management certification added to your portfolio can be very much worth the expense.

No Real Instructor for Online Courses

Because training and certification courses for project management have largely moved to online or computer-based mediums, it can be difficult to receive the in-depth training you seek. You may feel that it is important for you to be able to communicate directly with the instructor in the event that you have questions. Many training courses consist of brief online classes or software programs that are based more on self-learning than learning with an instructor. If you desire a classroom setting or ready access to a knowledgeable instructor, online or in-person college courses may be a better option.

Level of Preparation

Taking on the task of project management can be an extensive and intensive experience compared to other office jobs. Successful completion of the project requires the finesse and knowledge of efficient planning and organization as well as the ability to manage company resources. When selecting the training courses best suited for you, make sure that the service offers thorough training on the project management certification that you desire. Some training courses are geared to prepare you for project management on the most basic level, while others have more stringent qualifications for more coveted certifications that require a greater level of preparation.

Pricing

The cost of project management training varies greatly depending on the type and location of the training you select. While the price can be high, the return on this investment can be great. According to a survey of business professionals conducted by Project Management Solutions, project management training improved business and project performance by an average of 26 percent.

Training Type

The type of training you choose can greatly impact the cost. Classroom training and seminars are often costly because instructors and speakers must be paid. Trainees may pay hundreds of dollars to attend project management training classes. Online learning is a great option to cut costs. Search online for e-learning options such as virtual training classes and downloadable training courses.

Location

When searching for the perfect project management training option, you may have difficulty finding classes in your area. Travel is often necessary, and it can be costly. When budgeting for training, do not forget to include the cost of travel, lodging, and per diems. Attempt to find training classes that are nearby and in low-cost areas to save money.

Conclusion

Project management training can result in increased efficiency and cost savings for the company and a higher salary for the manager. It contributes to better operational communication, while keeping the business tied to the best current practices in project management. Training options are varied, however, and can differ drastically in quality and effectiveness, depending upon the delivery method employed and the resources made available for the training. This guide to project management training helps businesses and professionals select the best options for the most effective use of a training budget. By referencing the guide when developing the training plan, you can ensure a positive return on your investment.