What does a Principal Project Manager do?
Project managers are responsible for planning and overseeing projects to ensure they are completed in a timely fashion and within budget. Project managers plan and designate project resources, prepare budgets, monitor progress, and keep stakeholders informed the entire way. This is all done within the confines of a company's goals and vision. Project managers are needed on a wide variety of projects, including construction, IT, HR, and marketing.
Project managers generally need to have a Bachelor's degree in computer science or business, as well as several years of experience in the relevant line of work with increasing responsibility. Many project managers choose to pursue a Project Management Professional (PMP) cerfication. To obtain a PMP certification, one must have a degree (associate's or Bachelor's), a certain number of hours leading and directing projects, a certain number of hours of project management education, pass an exam, and participate in ongoing professional development. Successful project managers are detail-oriented and have excellent communication skills.
- Determine and define project scope and objectives
- Predict resources needed to reach objectives and manage resources in an effective and efficient manner
- Prepare budget based on scope of work and resource requirements
- Track project costs in order to meet budget
- Develop and manage a detailed project schedule and work plan
- Provide project updates on a consistent basis to various stakeholders about strategy, adjustments, and progress
- Manage contracts with vendors and suppliers by assigning tasks and communicating expected deliverables
- Utilize industry best practices, techniques, and standards throughout entire project execution
- Monitor progress and make adjustments as needed
- Measure project performance to identify areas for improvement
- Bachelor's degree in computer science, business, or a related field
- 5-8 years of project management and related experience
- Project Management Professional (PMP) certification preferred
- Proven ability to solve problems creatively
- Strong familiarity with project management software tools, methodologies, and best practices
- Experience seeing projects through the full life cycle
- Excellent analytical skills
- Strong interpersonal skills and extremely resourceful
- Proven ability to complete projects according to outlined scope, budget, and timeline
How much does a Principal Project Manager make?
Base Pay
Additional Pay
$136,888
/ yrPrincipal Project Manager Career Path
Learn how to become a Principal Project Manager, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Average Years of Experience
Principal Project Manager Insights
“The experiences I have gained along the way are irreplaceable and valuable to my career growth.”
Wipro“It sometimes gets boring otherwise the post i was on was really good and never got boring.”
Newmark“The people I get to work with daily are helpful and nice to get to know.”
Cathexis Architecture“CATHEXES is the most inclusive and diverse architectural firm I have worked for in my lengthy career.”
Macronix International“4. Colleague is nice and well to share any knowledge and every one will to teach others.”
The Building People“I am fairly new however the onboarding process was very pleasant and everyone was very welcoming.”
McCarthy Building“Great bonus based on our effort and contribution on the job so motivation is high.”
Condeco“Everyone is smart and dedicated and it is the best part of working at Condeco.”
Frequently asked questions about the role and responsibilities of project managers
A project manager oversees all phases of projects, including initiation, planning, execution, monitoring, and closing. Their daily tasks may include creating project teams, delegating jobs, contacting stakeholders, managing the project budget, and problem-solving. These professionals can work in many industries.
Yes, project managers enjoy a diverse role that's ideal for those who like variety in their careers. There are opportunities for these professionals in nearly any industry, so you can find a project manager job in an area that interests you and focus on projects that utilize your personal skill set.
Yes, the average salary for a project manager is $136,888. You can typically increase your earnings by getting PMP, APMP, PRINCE2, or CAPM certified or by pursuing advanced training or certifications specific to your industry. Senior project managers and leaders of project management typically have the highest salaries.
Working as a project manager can be challenging, particularly if you struggle with multitasking. Project managers may face some stress and feel pressure to execute their projects efficiently. If you are interested in becoming a project manager, remember that this career requires a diverse skill set and excellent time management, as well as the ability to delegate.