Project management competencies are a wide and deep set of soft and hard skills that are used to manage and execute business projects at companies of all sizes and throughout industries. Project managers are responsible for creating budgets and ensuring they are adhered to, managing and inspiring employees, working with diverse teams, often across business functions, and predicting and responding to changes, among a large number of other responsibilities.

It is no surprise, therefore, that the soft skills required to accomplish all of this are highly effective in both personal and professional life. Below are why project management skills are so crucial to success.

Leadership

Project management is as much about leadership as it is about administration. An education in project management prepares PMPs for every aspect of the successful execution of projects, which includes being able to lead diverse teams. Many people mistakenly believe that leadership skills are something one is either born with or not, but the truth is that professional education like project management helps you develop and hone these skills. 

Carrying out and managing projects requires that a project manager be able to inspire confidence and trust in their team, and these same abilities are broadly applicable in life. Leaders are made through hard work, mastery of their roles, and an ability to effectively communicate objectives and give credit and recognition to their followers. All of these skills and more are fundamental parts of project management education. 

Time Management

Good time management ultimately means being able to devote the most time to the things that are most important to you. This is a truism that applies to both business and your personal life. If you are better able to control where you allocate time, your most precious resource, then you stand a much better chance of getting not only everything done that you need or want to do, but the things that are mission-critical and the highest value most. 

In business, poor time management often translates into failed projects, suboptimal productivity, bad scheduling, being over-budget, and an inability to meet commitments. A failure to manage your time in your personal life can end up making you look bad to friends and family, put undue stress on relationships, and leave constantly you feeling like there is never enough time in a day. Project management skills help develop your ability to manage and allocate time well and eliminate the feeling that there is never enough of it. 

Strategic Thinking

Terms are defined by their opposites and the opposite of strategic thinking is reactionary thinking. Reactionary thinking gets people into trouble and is responsible for mistakes in both business and private life.

An inability to see the forest for the trees leads people to failed relationships and projects, stops them from understanding all of the forces at play before making major decisions, informs imprudent and emotional reactions to things and clouds judgement. Strategic thinking, on the other hand, the kind taught and emphasized in project management, urges caution, stresses planning and allows for revisiting and reworking ideas. 

Collaborate and Negotiate

To succeed in life, you need to know how to cooperate and negotiate. People who refuse to cooperate are rarely desired as colleagues or as friends. The education system, and especially the early years, strives to teach children to cooperate, and a failure to absorb these skills early in life can lead to disastrous outcomes as adults. That is not to say, however, that the ability to cooperate effectively cannot be honed as a person ages. Project management education does exactly that. 

Negotiation skills are another project management takeaway that are vital for personal and business success. We negotiate things, both implicit and explicit, with other human beings all the time, whether it is agreeing on a place to go on vacation with a partner or which way to best prioritize tasks at work. Being able to negotiate diplomatically and effectively is a large part of interpersonal and professional success. 

Holistic Thinking

Project management requires holistic thinking, and holistic thinking is an essential part of making good decisions. Holistic thinking is that which explores the complex whole and in the business context, seeks to understand how every decision impacts structure, processes, functionality, purpose, and how the decision connects with organizational values and mission. 

At the personal level, holistic thinking allows an individual to see how their decisions affect themselves and others around them. Holistic thinking is crucial for decision-making that accepts responsibility and is key to empathizing with and understanding others. Holistic thinking is important for the successful outcome of business projects and personal endeavours. 

Conclusion 

Project management skills are broadly useful across industries, in a wide range of different roles, and highly applicable in one’s personal life. Leadership, time management, strategic thinking, collaboration and negotiation and holistic thinking skills are among the many soft skills that project management education, whether PMAC or PMP, imparts and instils in students. It should be easy to see from the above list why so many of the core competencies taught in project management programs are invaluable life and career skills.