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Technology (current and trends)
Even though project team would have SMEs to whom PM can consult, PM should have sufficient technology/subject/field knowledge. Having good and up-to-date knowledge gives PM an edge when dealing with team on technical matters. He/She can actively discuss with team about estimation numbers, obstacles in completing work items on time, task complexities etc. PM would have better control over work progress.
Note that PM is a link between the team and (program) management. Program management rely on PM for an all-round view of the project, which include technology aspects as well.
Change management
During conception stage, 4 coordinates of project are decided and fixed. A formal process or plan is needed if due to some reason, there is change in one of the coordinates of the project. For example, say customer changed the requirements (scope change trigger), or organisation want cost cutting in all projects (cost change trigger). Change management consists of impact analysis, re-planning, management approval, and then implemention of change.
Project execution
If project is automobile, PM is certainly driver of it. It is PM who decides direction, configures everything and then puts all machinery into execution. He/She then monitors the progress, corrects the directions and controls the speed.
Conclusion
As we glanced through number of areas on which Project Manager need to work, we realise that Project Manager's job is the most challenging job in the project. His/Her failure is entirely dependent on others; all he/she can do is to try for the best, expect the best, prepare for the worst, and then wait for the best !!
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