The Importance of Strategic Value Delivery for Project Managers Article

Strategic value delivery for project managers

Strategic value delivery for project managers is a concept that focuses on the importance of understanding the purpose and goals of a project in order to deliver meaningful results for the organization. Traditionally, project managers have been primarily focused on tactical project delivery, which involves ensuring that all the necessary tasks and milestones are completed as per the plan. However, strategic value delivery goes beyond the tactical aspects and delves into the why of a project.

The strategic value of a project refers to the overall business objectives and outcomes that the company aims to achieve through the project. It involves understanding the purpose and rationale behind investing resources, time, and money into a particular initiative. By understanding the strategic value, project managers can align their efforts with the broader goals of the organization and ensure that the project contributes to the desired outcomes.

One of the key challenges in strategic value delivery is that project management is often underutilized by companies in a strategic capacity. Project managers are typically brought into the picture after the strategic planning and decision-making processes have taken place. They are often seen as operators who support the execution of the project rather than being involved in the strategic discussions from the beginning.

This lack of involvement in strategic planning can limit the ability of project managers to fully contribute to the success of a project. They may not have a clear understanding of the business case or the desired outcomes, which can lead to a disconnect between the project deliverables and the strategic goals. Additionally, project managers may not have the opportunity to provide input on the feasibility or potential risks associated with the project, which can impact its overall success.

To overcome this challenge, it is essential for organizations to recognize the strategic value that project managers can bring to the table. Project managers should be involved in the early stages of project planning, including the creation of the business case and the identification of key objectives. By including project managers in these discussions, organizations can leverage their expertise and insights to ensure that the project is aligned with the strategic goals.

Furthermore, project managers should be given the opportunity to contribute to the operational side of achieving the business goals. They should be involved in measuring key metrics and KPIs, as well as providing insights and recommendations for improving the project outcomes. By involving project managers throughout the project lifecycle, organizations can maximize the strategic value that they bring to the table.

In conclusion, strategic value delivery for project managers is crucial for ensuring the success of projects and aligning them with the broader goals of the organization. By involving project managers in strategic planning and decision-making processes from the beginning, organizations can leverage their expertise and insights to drive meaningful results. Additionally, giving project managers the opportunity to contribute to the operational side of achieving the business goals can further enhance their strategic value. Ultimately, by recognizing and utilizing the strategic potential of project managers, organizations can improve project outcomes and drive overall success.

PMOs need to be strategic

PMOs, or Project Management Offices, play a critical role in organizations by overseeing and managing projects to ensure their successful completion. However, there is often a perception within corporations that PMOs are only capable of providing tactical or operational support rather than strategic value. This perception can lead to underutilization of PMOs and hinder their ability to contribute effectively to the organization's goals.

One of the reasons for this underutilization is the lack of involvement of PMOs in annual planning and strategic discussions. These events, which occur once a year and shape the direction of the organization, often exclude PMOs from meaningful participation. Even when PMOs are included, it is usually in a limited and isolated capacity, focusing on specific inputs and contributions. This exclusion reinforces the perception that PMOs are not capable of offering more than tactical support.

However, there are instances where PMOs have been given the opportunity to contribute strategically. For example, in some companies, senior project leaders have been brought in early on to help drive the annual planning process. The intention behind this is to allow the strategy person to focus on the strategy itself, while the project leader handles the process. Unfortunately, in these cases, the project leaders often feel marginalized and restricted to basic project management tasks, such as scheduling meetings or taking notes. This marginalization stems from a lack of recognition of project managers' potential for strategic thinking.

As PMO leaders, it is crucial to encourage and promote strategic thinking within the PMO and the project management team. However, there are two scenarios that can occur when attempting to do so. The first scenario involves stakeholders embracing the idea of project managers contributing strategically and recognizing the value they can bring. In this case, project managers are seen as making stakeholders' lives easier and adding strategic value to the organization. The second scenario, as described earlier, involves resistance to change and a reluctance to allow project managers to be strategic. This resistance often stems from a lack of understanding or appreciation for the strategic potential of project managers.

To overcome these challenges, PMO leaders and project managers must navigate the two worlds of tactical and strategic thinking. This requires finding strategies and techniques to overcome resistance to change and demonstrate the value of strategic contributions. It is essential for senior project managers and PMO leaders to recognize the importance of becoming more strategic for their own success and sustainability. Relying solely on tactical and operational value can lead to marginalization within the organization and limit opportunities for growth and advancement.

Becoming more strategic is not only in the interest of project managers and PMO leaders but also in the interest of the organization as a whole. By leveraging the strategic potential of project managers, organizations can improve project outcomes and align them with broader business goals. Project managers have unique insights and expertise that can contribute to the success of projects and drive overall organizational success. Recognizing and utilizing this strategic potential is crucial for organizations to thrive in today's complex and competitive business landscape.

In conclusion, PMOs need to be strategic in order to maximize their value and contribute effectively to the organization's goals. By involving project managers in strategic planning and decision-making processes, organizations can leverage their expertise and insights to drive meaningful results. Additionally, giving project managers the opportunity to contribute to the operational side of achieving business goals can further enhance their strategic value. Ultimately, by recognizing and utilizing the strategic potential of project managers, organizations can improve project outcomes and drive overall success.

Project managers need strategic mindset

Project managers play a crucial role in organizations by overseeing and executing projects to achieve business goals. However, there is a growing recognition that project managers need to develop a strategic mindset in order to maximize their value and contribute effectively to the organization's success. This podcast transcript highlights the importance of project managers embracing a strategic mindset and explores the factors that may hinder their ability to do so.

The podcast discussion begins by questioning whether project managers are not as strategic because they have not been allowed to play in strategic realms by senior leadership. This raises the question of whether there is a ceiling that is holding project managers back or if it is more about the project managers themselves not displaying the strategic acumen and behaviors that senior executives value. The conversation acknowledges that there are cultural perceptions within corporations regarding the role and contribution of project managers, with biases that view them as tactical contributors.

The participants in the podcast recognize that not all executives and sponsors hold this view, and some may value project managers who demonstrate strategic thinking. However, they also acknowledge that shifting these perceptions and expectations cannot happen overnight. It requires education, inspiration, and a change in mindset for project managers to evolve and embrace a more strategic approach.

One participant suggests that project managers often focus on meeting the needs of stakeholders and sponsors who value their tactical contributions, such as scheduling meetings and taking meeting notes. However, they may overlook other audiences, such as higher-level executives, who may desire a different type of value from project managers. These key decision-makers may be looking for project managers who can provide strategic insights and contribute to long-term success and promotion opportunities.

The podcast also draws a parallel between the concept of "you're being watched" as a parent and how project managers are perceived in the workplace. Just as children notice when their parents' actions contradict their words, people in the organization notice how project managers behave in small moments, especially those who don't work with them frequently. These small moments can have a significant impact on how project managers are perceived and can potentially derail their promotion opportunities.

In conclusion, the podcast highlights the need for project managers to develop a strategic mindset in order to maximize their value and contribute effectively to the organization's goals. This requires organizations to involve project managers in strategic planning and decision-making processes, as well as provide opportunities for them to contribute to the operational side of achieving business goals. By recognizing and utilizing the strategic potential of project managers, organizations can improve project outcomes and drive overall success.

Strategic mindset is critically important

The podcast emphasizes the importance of first impressions and infrequent interactions in shaping perceptions and influencing decisions. It highlights the need for project managers to demonstrate their strategic thinking and understanding of the company's goals and domain during these interactions. By showcasing their ability to think strategically and align their work with the organization's objectives, project managers can position themselves as valuable contributors and leaders within the company.

However, the podcast also acknowledges that project managers are often strategically underutilized. This is attributed to various factors, including the rise of artificial intelligence (AI) that can perform tactical work traditionally done by project managers. Additionally, executives may not prioritize or encourage project managers to be more strategic, leading to their marginalization within the organization. Furthermore, other department leaders may believe they can manage projects themselves or delegate them to team members, further diminishing the perceived need for project managers.

The podcast warns that if project managers do not adapt and become more strategic, the profession may become even more isolated and marginalized. AI's increasing ability to handle tactical tasks and the lack of support from executives can squeeze project managers from both ends. To combat this, the podcast suggests that project managers must embrace a more strategic mindset. By focusing on strategy and offering greater value to the organization, project managers can resist the erosion of their role and contribute effectively to project success.

The podcast also discusses the alarming statistic that a significant percentage of projects fail to deliver the strategic outcomes they were created for. While projects may be delivered on time and on budget, they often fail to meet the original strategic goals. The podcast questions why this is the case and suggests that organizations may not follow up on the success of projects in terms of whether they achieved their intended strategic outcomes. This lack of follow-up and evaluation hinders organizations' ability to learn from past projects and improve future strategic planning.

In conclusion, the podcast emphasizes the critical importance of a strategic mindset for project managers. It calls for organizations to involve project managers in strategic planning and decision-making processes, as well as provide opportunities for them to contribute to the operational side of achieving business goals. By recognizing and utilizing the strategic potential of project managers, organizations can improve project outcomes and drive overall success.

Project failure is multifaceted

Project failure is a complex issue that goes beyond the realm of project management itself. This podcast transcript highlights the multifaceted nature of project failure and sheds light on the various factors that contribute to it. The speaker argues that project failure can be attributed to three main areas: issues related to the project itself, flaws in the strategy, and incorrect business goals.

The first reason for project failure is directly linked to the project's deliverables. This includes issues such as scope, schedule, quality, and resource allocation. If these aspects are not properly addressed and managed, the project is likely to fail. This highlights the importance of effective project management practices and the need for project managers to have a strong understanding of these factors.

The second reason for project failure is strategy-related. Even if a project is executed flawlessly, it can still fail if the strategy guiding it is flawed. This could mean that the chosen strategy was not aligned with the organization's goals or that the initiatives defined within the strategy were not effective. In this case, the failure lies in the strategic decision-making process rather than the project execution itself.

The third reason for project failure is attributed to incorrect business goals. If the goals defined by the executives are unrealistic or unachievable, no amount of strategic planning or project execution can ensure success. The example given in the podcast of a company aiming to generate revenue that exceeds the size of the market they operate in illustrates this point. It is crucial for organizations to set realistic and achievable business goals to avoid project failure.

Overall, the podcast highlights the need for organizations to take a holistic approach to project management. Project failure cannot be solely attributed to project management practices or the execution of a project plan. It requires a comprehensive evaluation of the project's alignment with the organization's strategy and business goals. This calls for project managers to be involved in strategic planning and decision-making processes, as well as given the opportunity to contribute to the operational side of achieving business goals.

By recognizing the multifaceted nature of project failure and utilizing the strategic potential of project managers, organizations can improve project outcomes and drive overall success. This requires a shift in mindset from viewing project management as a separate function to integrating it into the broader strategic framework of the organization. Only then can organizations effectively address the various factors that contribute to project failure and increase the likelihood of project success.

Project failures often involve misaligned strategies

One key factor that often leads to project failure is the misalignment of strategies. This is highlighted in the podcast transcript, where the speaker discusses how a project was seen as a failure due to the intentional merger of two divisions, sales and marketing. While the project team may have made some mistakes in the delivery, the underlying issue was the flawed strategy of the merger itself. This example demonstrates the importance of considering the strategic implications of a project before embarking on its execution.

In many cases, project failures are not solely the fault of the project team or project manager. The podcast transcript suggests that only a third of failed projects can be attributed to their direct responsibility. This challenges the common perception that project failure is primarily the result of poor project management. Instead, it emphasizes the need to assess the strategic decisions and goals that drive a project.

The example of the HR solution implementation further illustrates this point. The project was deemed successful in terms of its delivery, but it ultimately failed due to the changing market conditions and a decline in hiring. The project's failure was not a result of the project team's performance, but rather the strategic decision to invest in the solution during a pre-recession period. This highlights the importance of aligning project strategies with the overall business context and anticipating potential changes that may impact the project's success.

Executives and stakeholders play a crucial role in ensuring the alignment of project strategies. It is their responsibility to evaluate the business case and ROI of a project, considering both current and future market conditions. However, the podcast suggests that executives often exhibit a sense of amnesia and focus on the next "shiny object" rather than holding themselves accountable for strategic decisions that may lead to project failure. This lack of accountability can create frustration and a sense of unfairness among project teams who are often blamed for project failures that are beyond their control.

To address this issue, organizations need to foster a culture of accountability and integrate project management into their strategic decision-making processes. Senior executives and CEOs should continuously ask critical questions and hold themselves and others accountable for the strategic alignment and success of projects. This requires a shift in mindset, recognizing project management as a strategic function rather than a separate entity. By doing so, organizations can proactively identify and address misaligned strategies, increasing the likelihood of project success.

In conclusion, project failures often involve misaligned strategies. Recognizing this and integrating project management into the broader strategic framework of the organization is crucial for improving project outcomes. By holding executives accountable for strategic decisions and fostering a culture of accountability, organizations can mitigate the risk of project failure and drive overall success. Project managers play a vital role in this process, utilizing their strategic potential to align project strategies with business goals and navigate changing market conditions.

Project success requires teamwork and adaptability

Project success requires teamwork and adaptability. This is evident in the podcast transcript, where the speakers discuss the responsibilities of project managers and the importance of collaboration in achieving project goals.

The speakers emphasize that while project managers are responsible for ensuring the project's success, they cannot plan for every possible scenario or foresee all risks. There is inherent risk in the planning and execution process, and it is the project manager's job to quickly identify and address these risks. This requires transparency and effective communication with stakeholders, as well as the ability to make trade-offs and adapt to unforeseen issues.

The notion that project managers or the project management office (PMO) are failures if the project does not come in on schedule is deemed unfair. The speakers argue that it is important to dig into the details and understand the underlying factors that caused the delay. Did the project manager take responsibility for ensuring visibility into the issues? Were they proactive in engaging sponsors and key stakeholders to address unforeseen issues? These are the questions that need to be asked before assigning blame.

Furthermore, the speakers highlight the critical role of the executive sponsor in project success. The executive sponsor should be engaged, guiding, and supportive of the project manager. They should understand their role in removing blockers and making decisions that the project manager does not have the authority to make. A strong relationship between the project manager and executive sponsor is crucial for effective communication and decision-making.

Teamwork is emphasized throughout the podcast. The speakers compare project management to sports like curling, where multiple individuals play different roles but work together to achieve a common goal. Project managers, executives, and team members all have their specific responsibilities, but they must work in unison to ensure project success. This requires open communication, collaboration, and a shared understanding of the project's goals and objectives.

Adaptability is another key aspect of project success. Projects are often subject to changes, whether it be in market conditions, stakeholder requirements, or unforeseen issues. Project managers must be able to adapt quickly and make decisions that are in the best interest of the project. This requires flexibility, problem-solving skills, and the ability to navigate through uncertainty.

In conclusion, project success requires teamwork and adaptability. It is not solely the responsibility of the project manager or the PMO but a collective effort involving executives, stakeholders, and team members. By fostering a culture of collaboration, accountability, and adaptability, organizations can improve project outcomes and drive overall success. Project managers play a crucial role in aligning project strategies with business goals and navigating the challenges that arise throughout the project lifecycle.

Set realistic expectations for projects

One key aspect of project management is setting realistic expectations. This means acknowledging that unforeseen issues will occur and that not all projects will meet their intended goals. It is important for project managers to communicate this to executives and stakeholders and to take responsibility for being proactive in identifying and resolving issues.

Setting realistic expectations involves several steps. First, project managers must understand that unforeseen issues are a normal part of the project lifecycle. They cannot guarantee that all requirements will be successfully achieved despite these issues. By acknowledging this reality, project managers avoid setting unrealistic expectations and avoid putting themselves in a corner.

To set the right expectations, project managers need to be proactive in identifying potential sources of issues. This includes maintaining a risk register and an issue log, and continuously monitoring and addressing potential problems. By taking these proactive measures, project managers can demonstrate their commitment to resolving issues and minimizing their impact on the project.

When issues do occur, project managers should engage the project sponsor and involve them in the decision-making process. This ensures that executives are informed and aware of the challenges and can provide input and support in finding solutions. By involving executives in the decision-making process, project managers can ensure that they feel vested in the decisions and are more likely to support and advocate for the project.

It is important to note that setting realistic expectations does not mean compromising on project timelines or budgets. While it is possible that the project may not meet these targets due to unforeseen issues, project managers should still strive to achieve them. However, by involving executives in the decision-making process and providing them with different trade-offs and options, project managers can ensure that the decisions made are informed and supported.

As project managers progress in their careers, the types of skills required to set realistic expectations may evolve. Initially, project managers need to master hard skills, such as understanding project management methodologies and processes. They also need to develop soft skills, such as communication, negotiation, and conflict resolution, which are essential for effectively managing stakeholders and teams.

Additionally, domain knowledge is crucial for project managers. This involves understanding the specific domain of the project, whether it is software development, marketing, or any other industry. By understanding the domain, project managers can better understand the project's requirements, challenges, and goals, and effectively manage the project accordingly.

As project managers advance in their careers, they should also develop a strategic and business domain knowledge. This involves understanding the broader business context, including business goals, competitors, challenges, and strategic plans. By understanding the business domain, project managers can align project strategies with business objectives and make informed decisions that contribute to overall business success.

In conclusion, setting realistic expectations for projects is crucial for project success. Project managers need to acknowledge that unforeseen issues will occur and take proactive measures to identify and resolve them. By involving executives in the decision-making process and providing them with different trade-offs and options, project managers can ensure that decisions are informed and supported. Additionally, project managers should continuously develop their skills, including hard skills, soft skills, and domain knowledge, to effectively manage projects and align them with business goals. Ultimately, by setting realistic expectations and fostering a culture of collaboration and adaptability, organizations can improve project outcomes and drive overall success.

Continuous growth in skills important

Continuous growth in skills is important for project managers to effectively manage projects and align them with business goals. This is highlighted in a podcast transcript where the importance of both hard and soft skills is emphasized throughout a project manager's career.

Hard skills, such as project management expertise, are seen as building blocks that project managers can build upon as they gain mastery. As they progress in their careers, project managers need to understand scale and how to manage complex and large projects. This includes managing multiple projects as a program manager or at an initiative or portfolio level. Additionally, project managers need to develop operational skills to ensure efficiency, speed, and quality in project execution. This involves understanding the how of managing a project and evaluating performance through KPIs and metrics.

On the other hand, soft skills are also crucial for project managers at all stages of their careers. Early on, project managers focus on developing basic soft skills such as communication, negotiation, and conflict resolution. However, as they become more senior and seasoned, their soft skills need to expand and become more advanced. Project managers need to work on being influential and thinking strategically about leadership, making an impact, and influencing executives.

Continuous growth in skills is necessary because as project managers progress in their careers, the expectations placed on them evolve. They need to be able to handle more complex projects and manage people and resources at scale. They also need to understand the strategic goals of the company and align their projects with those goals. This requires the ability to prioritize and make decisions about where to spend their time and resources.

Moreover, continuous growth in skills allows project managers to adapt to changing circumstances and unforeseen issues that may arise during projects. It enables them to proactively identify and resolve problems, ensuring project success. By continuously developing their skills, project managers can stay up-to-date with industry trends and best practices, making them more effective in their roles.

In conclusion, continuous growth in skills is important for project managers to effectively manage projects and align them with business goals. Both hard and soft skills are crucial throughout a project manager's career, and they need to continuously develop and expand their skills to meet evolving expectations. By doing so, project managers can improve project outcomes, drive overall success, and contribute to the growth and success of their organizations.

Soft skills are critical

One area of skills that is often overlooked but is critical for project managers is soft skills. Soft skills refer to a set of personal attributes and interpersonal skills that enable individuals to effectively interact and communicate with others. These skills are not easily quantifiable or measurable, but they are essential for building relationships, managing teams, and navigating complex organizational dynamics.

Soft skills play a significant role in project management because projects are inherently collaborative endeavors that require effective communication, teamwork, and relationship-building. Project managers need to be able to communicate clearly and concisely, both verbally and in writing, to ensure that project goals, objectives, and expectations are understood by all stakeholders. They must also be skilled in active listening, empathy, and conflict resolution to address any issues or concerns that may arise among team members.

Additionally, project managers must possess strong leadership skills to inspire and motivate their teams. They need to be able to delegate tasks, provide guidance and support, and empower team members to take ownership of their work. Effective leadership also involves the ability to make tough decisions, manage risks, and adapt to changing circumstances.

Another important soft skill for project managers is the ability to influence and negotiate. Projects often involve multiple stakeholders with different agendas and priorities. Project managers must be able to navigate these dynamics, build consensus, and negotiate win-win solutions that satisfy the needs and expectations of all parties involved. This requires strong interpersonal skills, persuasive communication, and the ability to build trust and credibility.

Furthermore, project managers need to be adept at managing their own emotions and stress levels. Projects can be high-pressure environments with tight deadlines, competing priorities, and unexpected challenges. Project managers need to remain calm, composed, and focused in order to make rational decisions and lead their teams effectively. They must also be resilient and adaptable, able to quickly adjust plans and strategies as needed.

Soft skills are not only important for day-to-day project management but also for career advancement. As project managers progress in their careers and take on more senior roles, they will increasingly interact with senior executives and stakeholders. They will need to understand the nuances of organizational politics, be able to read between the lines, and navigate complex power dynamics. Building trust and credibility with executives is crucial for gaining their support, securing resources, and obtaining buy-in for project initiatives.

In conclusion, soft skills are critical for project managers to succeed in their roles and advance in their careers. While hard skills and domain knowledge are important, it is the soft skills that enable project managers to effectively communicate, collaborate, lead, and navigate the complexities of project management. Developing and honing these skills should be a priority for project managers at all stages of their careers. By doing so, they can enhance their ability to deliver successful projects, drive organizational success, and become effective leaders in the field of project management.

Understand domain knowledge for success

Understanding domain knowledge is crucial for success in project management. This is evident in the podcast transcript, where the speakers discuss their experiences and the importance of domain knowledge in their roles.

One of the speakers shares a story about starting a new job as a project manager and meeting with the engineering leader of the product area they were responsible for. The engineering leader emphasized the importance of understanding the product and having domain knowledge. This shows that having a deep understanding of the domain in which the project operates is crucial for effective project management.

Another speaker talks about their experiences working in technology and how domain knowledge is essential in understanding complex technology concepts. They mention the importance of being able to contribute in meetings and understand discussions related to the domain. This highlights how having domain knowledge enables project managers to actively participate and add value to projects.

The podcast also discusses the expectations placed on project managers in certain companies, such as Amazon. The speaker mentions that technical project managers are expected to have a deep expertise in the domain and be able to advocate for and influence decisions. This demonstrates that domain knowledge is not only important for understanding the project but also for being strategic and adding value to the project.

Furthermore, the podcast highlights the importance of being able to provide translation services between different domains. The speaker shares their experience of understanding both finance and HR domains and being able to communicate effectively between the two. This shows that having domain knowledge in multiple areas allows project managers to bridge gaps and facilitate communication between different functions.

Overall, the podcast emphasizes that understanding domain knowledge is crucial for success in project management. It enables project managers to understand the project, effectively contribute in meetings, and bridge gaps between different domains. Developing domain knowledge should be a priority for project managers, as it enhances their ability to deliver successful projects, drive organizational success, and become effective leaders in the field of project management.

Domain knowledge is critical for career growth

The speaker in the podcast reflects on their earlier career as a project manager and acknowledges that they initially relied on their inherent ability and technical skills to get by. However, they soon realized that this approach was limiting their career growth and decided to pivot. They made the conscious decision to invest more time in developing their domain knowledge, which involved reading technical documents and artifacts related to the projects they were working on.

The impact of this decision was significant. The speaker's career took off, they were assigned more projects, and they were considered for promotions. By deepening their understanding of the domain, they were able to add more value and impact to their work. They were also able to contribute to discussions from a strategic perspective, understanding the business goals and outcomes and optimizing projects to reach those results.

The importance of domain knowledge is further emphasized as the speaker mentions how it allowed them to accelerate and fast track their career as an executive. Understanding the domain enabled them to understand what the executives were thinking and contribute meaningfully to discussions about business goals. This knowledge gave them the ability to optimize projects and improve their ability to reach desired outcomes.

The podcast also highlights a common mistake made by project managers, especially early in their careers. Many project managers believe that mastering project management hard skills is enough for success. However, the speaker argues that this should only be the starting point, not the end point. Project managers who solely focus on their project management skills may find themselves strategically underutilized and struggle to break through to higher-level positions.

The reason for this stagnation is attributed to a lack of mastery in the domain and soft skills. Project managers who fail to develop domain knowledge may find their careers stagnant as they struggle to move up the ranks or move between companies. The ability to master the domain and soft skills is crucial for career growth in project management.

In conclusion, the podcast emphasizes the critical importance of domain knowledge for career growth in project management. Developing domain knowledge enables project managers to understand projects, contribute effectively in discussions, and bridge gaps between different domains. It enhances their ability to deliver successful projects, drive organizational success, and become effective leaders in the field of project management. Therefore, project managers should prioritize developing their domain knowledge to maximize their career potential.