The Value of Group Training for Project Managers
While you may recognize that training for project managers is essential, you may not realize the benefits of training your project managers in a group setting. Many organizations facilitate and host group training sessions for their employees. Whether you have seasoned project management professionals on staff or you have employees interested in pursuing a profession in project management, group training could be the ideal option for your organization.
Learn more about the value of group training for project managers and how sponsoring these training sessions leads to positive outcomes for your organization.
1. More Projects Finishing on Time and On Budget
Two goals can be found across almost all projects: on-time completion and on-budget completion. Failure to meet these objectives is a common cause for organizations and project managers alike to seek out training.
When you have a well-trained staff of project managers, it’s only logical that you’ll see an uptick in projects completed on time and on budget. In fact, according to data from Project Management Institute, a well-trained staff can see a possible increase of 59% on projects finishing on time and on budget.
This increase in positive outcomes is logical. While some budgeting and timeline issues may be out of the control of the project manager, many times failures in these areas can be an indicator that a project manager is in need of training. You can also view training as a preemptive measure. Even seasoned project managers may need a refresher on how to keep projects running smoothly or how to minimize costs. Participating in group training can also introduce project managers to new tactics for success in the field.
2. Speaking the Same Language
As with other areas in your organization, a unified view of project management processes among your project managers can increase efficiency and produce better results. When everyone in your organization is speaking the same project management language, you’re sure to see an increase in efficiencies as miscommunications decrease.
Identifying and using the language of the discipline enables project managers to better align their projects with best practices. Group training for your project leaders ensures everyone is on the same page, using the same tactics, and standardizing processes.
3. Creating a Strong Foundation to Allow Customization
A strong foundation of standardization, as mentioned above, also gives project managers the confidence and opportunity to customize their approaches to project management as needed. When employees have a strong foundational set of skills, it allows them to apply best practices when the context requires them to do so and adapt processes to meet specific situations.
Because every organization and every project has its own unique set of circumstances and challenges, a well-trained staff will take the best practices gained through training and adapt them to those specific needs. However, without a strong foundation, your project managers may not be skilled enough to make those case-by-case decisions.
4. Investment in Employees
An investment in training is an investment in your employees themselves. A new 2019 LinkedIn survey found that an astonishing “94% of employees say they would stay at a company longer if it invested in their learning and development.” By investing in group training for your employees, you demonstrate that they are valued members of your workforce.
The longer your project managers stay with your company, the greater the continuity you’ll have in both how your projects are managed and the results these projects generate. When your project managers have the knowledge and skills needed to do their jobs correctly, they’re sure to be happier in their position, appreciative of the investment in their professional development, and satisfied with their increased success.
5. Reduced Costs
Group training comes with monetary benefits, as well. Choosing to sponsor group training sessions for your employees can significantly reduce the cost of training. First, training companies often offer group discounts for multiple employees from a single organization who want to participate in training.
Also, by bringing in a training provider to your organization, you save on travel costs compared to offsite training options. The alternative would be to fly a group of employees to and from an offsite location and also pay for multiple days at a hotel for each employee. You could save thousands of dollars in travel expenses by sponsoring a group training session at your office.
Group training also makes it possible to train multiple members of your organization in a short amount of time. This leads to an acceleration of improvement in your organization. You’ll see greater results faster than ever.
6. Competitive Advantage
In terms of both attracting new talent and staying ahead of your industry, group training gives you a competitive advantage. The job market can be highly competitive when it comes to attracting top project management talent. More and more organizations are seeking out project managers to join their ranks. Offering regular group training courses could be just the benefit you need to attract more qualified project managers to join your team.
Because an investment in group training often leads to better project outcomes, you can also expect to have an advantage over your competition. Failed projects can cost thousands of dollars in lost resources and time. Instead of wasting those funds, you can increase your profitability and operational efficiency by having well-trained project managers on your team.
There are many benefits to training your project managers in a group setting. It leads to better outcomes and this investment in professional development can increase loyalty in your employees. As you search for the right project management training partner to facilitate your group training sessions, be sure to look for one that offers great training professionals, insightful training materials, and customization options to meet your organization's specific needs.
Are you looking for group training options for your employees? Learn more about working with Project Management Academy for your group training needs.