"Project Manager"
Sorry, this has just been bothering me for a while, what is a "Project Manager?" When someone says they're a Project Manager, what does that really even mean
What is a Project Manager?
A project managers primary function is to ensure that a project is on schedule and on budget. Project manager is a very broad title because it can apply to any task that has a specific deadline or objective. Since the timeline and size of the project can vary wildly it’s best to assess each role individually.
from certified user @Commuter"
Two project managers I know, they both work for two f100 tech firms and manage projects for their clients from other corporations to the US government.
Only one is a PMP and became one in his 40s (he said waste of time and I think did it to land a deal). Both make between 3-400k, but I see at as high side number given their age and them having the advantage of watching the growth in tech/networking infrastructure and security. Hours go from great to shit fast. Titles are like "VP Technology, Project Manager."
I know another in a similar role, not f100 and not PMP, he makes around 150k I'd say. He also works 9-5 no weekends usually ever and has a photography business on the side and goes to the Super Bowl every year.
And yeah, if accounts finish up and there is nothing going on, you get laid off and put in a consultant pool.
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Not sure how useful they are. They are there to make sure everyone is organized for some reason.
Hi, I am a finance major, started working for a GC out college, we develop, build and hold real estate assets. I am in the SF bay area. Salary is around $120, target bonus is 15% but, because of performance I received a bonus of 40% last year. Our office is somewhat unconventional in that the project management department takes a project from entitlements through completion. The part I enjoy most is the interaction and management of our GC's and the design team.
Hours vary depending on work load and status of project, the last two months I have worked 60-70 hr. weeks. I am a Manager level employee, career path would be Sr. Manager, Director then VP of Project Management. As I do not know your career goals I would offer the following: Your people skills (soft skills) and financial modeling experience will help you in budgets, detailed pro-formas and dealing/managing your team. But, without a solid understanding of construction means and methods you will be handicapped at first.
It is enjoyable, and a good honest way to make a living - I see more upside in acquisitions and development, however. One last thought, you will need to develop an above intermediate level understanding of a Primavera or Microsoft scheduling software.
Hope this helps and good luck.
DK
A day in the life of a project manager (Originally Posted: 10/28/2014)
Hey guys,
I am just curious as to what the typical day in the life of a project manager is for a real estate development firm. I have been thinking about possible switching from acquisitions to the project management side.
Also what are some basic things like comp, growth path, hours, etc.
Thanks again
What's your experience level (years out of college)?
Not much to be honest. Ideally they're supposed to make developers lives easier by taking care of the day to day janitorial / managerial crap like making sure 2 teams aren't developing lots of overlapping systems, managing release dates, and making sure to tell management everything's going swimmingly. In reality smart developers don't really need management (project or otherwise). At Facebook for example I've heard my friends say that product was told to not talk so much during meetings.
Like Linus said: "talk is cheap, show me the code".
https://lkml.org/lkml/2000/8/25/132
@dk1234 I'm also curious of your experience level. $120k sounds high... and 40% bonus doesn't sound realistic at all.
If this came from someone who works at a financial services firm then it means they don't really do anything. I just remember this being popular with operations and IT. The call themselves "business analysts" and "project managers" and use all kinds of buzzwords to imply they are somehow important.
This is just my experience with self proclaimed project managers or whatever else these six sigma master black belt wannabes call themselves. Not sure if this applies to whoever you're talking about.
I am a year out of college with a degree in accounting and finance. I have had about 2 years experience in the real estate industry (1 year brokerage assistant, 1 year transaction analyst for a big 4 RE group)
^ +1.
A lot of times, they're a glorified temp worker. Other times, they're outside contractors called in to do a bunch of overhaul / dirty work that they don't want full time employees involved in. What a full time project manager does, I have no idea, unless your bank likes projects and needs someone around to manage them on a rolling basis....definition of 'project' debatable.
It depends... Every company has project managers for a wide variety of projects. It a very diverse job.
I am an Assistant Project Manager in Utilities & Energy Management and I set up meetings with contractors and meet with clients to know exactly what it is they want. I make sure projects are delivered (completed) on time, respectt the budget, and that they are done correctly. These are but a few things i do every day.
Hope this helps.
Depending on the industry, you can make decent coin as a project manager. Look up average salaries for the PMP designation. It's supposed to be the gold standard.
I work with a few PMPs. I'm sure they make decent $, but believe me attaining that designation does not mean that they're particularly useful.
My experience with Project Managers is they will be on the ground at a client where the firm has multiple teams running projects simultaneously. They are the people that will organize the calls and generate a pipeline for how to interact with Senior Management. A lot of the job is following up the billing and communicating the status of the individual projects with management. It's their responsibility that everything runs smoothly basically.
Two project managers I know, they both work for two f100 tech firms and manage projects for their clients from other corporations to the US government. Only one is a PMP and became one in his 40s (he said waste of time and I think did it to land a deal). Both make between 3-400k, but I see at as high side number given their age and them having the advantage of watching the growth in tech/networking infrastructure and security. Hours go from great to shit fast. Titles are like "VP Technology, Project Manager."
I know another in a similar role, not f100 and not PMP, he makes around 150k I'd say. He also works 9-5 no weekends usually ever and has a photography business on the side and goes to the Super Bowl every year.
And yeah, if accounts finish up and there is nothing going on, you get laid off and put in a consultant pool.
a project manager is a glorified babysitter in the same sense that an investment banker is a glofied fundraiser.
their primary function is to keep projects (whether it's building a new facility, implementing an IT system, etc, etc.) on time and on budget. they define deliverables and create a work breakdown structure to make sure things happen on time. they identify risks (anything that will prevent a deliverable from getting done) and identify contingency plans. they can work on internal projects, or they can go on site for implentation work for clients.
http://en.wikipedia.org/wiki/Project_manager
i don't know how it works in the financial services, but project managers are pretty legit
i assure you they are real things and there is nothing silly about them. example:
We are trying to get Deliverable F accomplished. But in order for that to happen, A, B, and C need to be done. A will require at least 10 months of work, and there is a risk of going over 2 to 4 months. B can be accomplished in a matter of days, and C will first require D and E to be finished first.
I recommend anyone still in school to take a project management course... pretty cool stuff actually.
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