Introduction
In the field of project management, certifications such as PMP (Project Management Professional), PRINCE2, Chartered Institute of Project Managers of Nigeria (CIPMN) and Agile Scrum are widely recognized as benchmarks of professional competence.
While these credentials are valuable, recognised, needed and useful, the true value of a project management goes far beyond certification. It goes to the skills possessed to solve real world project management challenges.
This is particularly so for project managers in emerging economies, also known as emerging markets. These are regions, which are often marked by rapid development and expanding industries, but face significant challenges such as; corruption, insecurity, poor infrastructure, and inconsistent project standards.
In other words, these countries are undertaking numerous projects aimed at development, but they often struggle with effective delivery.
This is where not just certified, but also skilled, competent project managers come in. Skilled, competent project managers manage real-world projects—deliver them on time, within budget, at the right quality and scope, even in these complex environments.
The Value of Project Management in Emerging Economies
Some of the values project managers hold in emerging economies include:
1. Strategic Planning and Execution
In emerging economies where infrastructure and resources are limited or unstable. Project managers help translate broad development goals into actionable, easy to follow and accomplishable steps.This is to say, project managers have the ability to plan strategically and adapt quickly to ensure projects in emerging markets stay on course despite disruptions.
2. Accountability and Transparency
Another problem that is faced by emerging markets or economies is one of corruption and mismanagement. Skilled project managers establish systems of accountability and promote transparency in budgeting, procurement, and reporting.
This builds trust among stakeholders and ensures efficient use of funds.
3. Capacity Building and Knowledge Transfer
Experienced project managers contribute to long-term development by mentoring local teams and transferring skills. This builds institutional knowledge, improves future project delivery, and helps create a pipeline of competent local professionals
4.Risk Management
There’s also the problem of high levels of uncertainty. This ranges from political instability to economic volatility. But, adept project managers assess potential risks early and build contingency plans, allowing projects to navigate challenges without derailing completely.
5. Delivering Social and Economic Impact
Whether it’s building roads, hospitals, tech infrastructure, or education systems, trained project managers ensure that development projects are completed efficiently and ethically—leading to real improvements in quality of life and economic opportunity.
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