A project manager carries a lot of different tools in his toolkit to be successful. He must know how to balance these skills to reach his ultimate potential as a project manager. You have stumbled upon a two-part post, and you are reading part 2. Please note that this list is not exhaustive. Several project management skills add up to professional success. After reading this list, if you find you are missing a skill or two, don't fret. Remember that most skills can be developed and improved with the proper application of student mindset, grit and determination.

To read or part 1 of this post click here.

Cost Management

Cost management skills are one of the most critical aspects of project management. Money is an essential resource for any project. It's a project manager's job to ensure the budget is realistic and covers the project needs. Then he must control those costs through to the project's completion. It's to be expected that a project manager will have to work with financial constraints on every project. He should master the processes of project cost estimating, budgeting, and controlling.

Risk Management

Risks are just a part of life for a project manager. Project risks must be identified, assessed, and controlled. The more risks a project manager actively manages during a project, the more successful the project will be. There, of course, will be surprise risks that occur over the project life cycle, and he must have a system in place for dealing with these risks. Risk management skills include:

• Analyzing what could go wrong.

• Estimating the probability of the situation occurring and determining the degree of damage that might exist.

• Taking action to avoid the issue.

Active Listening 

Listening might very well be the most overlooked aspect of communications. A project manager must possess strong communication skills to be successful on any given project. Practicing active listening skills is necessary when working on complex projects. Active listening enables a project manager to identify possible problems, risks, and opportunities. He faces many barriers to hear the flow of communication within a project accurately. If he can actively listen, he will benefit by building better relationships with stakeholders and gaining more cooperation from the project team.

Strategic Planning

Some project managers claim this skill can be tricky to implement and often becomes more attainable once he has many years of experience under his belt. Strategic planning requires a project manager to think ahead to the project's future and understand its need to align with the organizational strategy and overall business goals. This alignment commands an entire organization to aim for the same goals. To plan strategically, a project manager must set priorities, direct resources, grow operations, assure that team members and stakeholders are working toward mutual objectives, build consensus around expected results and evaluate and adjust the organization's path in response to dynamically changing conditions. However, strategic planning is counterproductive if the organization cannot adequately implement proper plans. With the help of the PMO, project management can achieve strategic objectives that align with an organization's strategy. 

Adaptability 

Adaptability comes down to being resilient during a project and beyond. An excellent example of adaptability has been evident during the pandemic, as many people have had to adapt to remote working environments. A project manager's success hinges on his ability to remain flexible during the continuous, changing scenarios that are a part of the job. Another shift that requires adaptability is the ongoing evolution of technology within project management. Adapting and evolving to situations is vital for a project manager. 

Quality Management 

A project manager should practice Quality Management to modify processes and methods that guarantee a quality project. He oversees certain activities to deliver a product or service at the quality level indicated in the project management plan. The goal of quality management is to provide quality work and avoid any subpar work. This skill is often overlooked because it is more difficult to quantify. Project management processes are put into use to produce quality in all phases of the project. Quality management involves developing and leading the project team to achieve a goal within a reasonable cost and time frame, which results in the generation of quality products or services. A project manager should manage the quality of his project from the beginning throughout user acceptance. The cost of quality assurance may be debatably high, but the price of low quality is significantly costlier. 

Interpersonal Skills

Leadership, motivation, influencing, coaching, negotiating, conflict management, decision making, trust-building, political and cultural awareness, and communication are examples of interpersonal skills of a successful project manager. A project manager must know the proper time and place to apply these skills within the project lifecycle. It makes sense that he will need sharply attuned interpersonal skills in his toolkit to make aspects like composing a project plan, schedule, or budget successful. 

Scheduling

Time is critical on a project. A project manager must create a realistic project schedule because it is necessary for completing project goals within the given timeframe. He will break down the project goal into tasks on a timeline. Scheduling in project management means listing activities, deliverables, and events via milestones within a project. A schedule also includes a proposed start and finish date, duration, and resources allocated to all activities. 

Task Management  

A project manager must create and manage many tasks on any given project. Task management helps to break up the complexity of projects into smaller tasks, so they are easier to manage. Task management includes techniques such as list-making, using text editors, building spreadsheets, applying team-based strategies, and even using basic pen-and-paper methods. Exceptional task management often boosts productivity, reduces mistakes, and keeps all stakeholders involved and the project updated. The project manager's responsibility is to use the most suitable task management approach for each unique situation.

Tech-Savvy 

Being a tech-savvy project manager means knowing the latest technology that can enable him to improve the rate of his team's productivity. By understanding how to conform to current technology trends, a project manager may increase output and his team's capacity to get things done productively. Since technology is rapidly changing, a project manager should commit to lifelong learning to stay on top of technology trends. He doesn't want to miss opportunities to communicate with his team via slack or miss out on using the latest project management software, which might be more effective and efficient than his current methods.