A recent survey by ITSM Training Zone found that 1 in 4 Project Managers are too stressed and frustrated to perform effectively.
This stems from the need to micro-manage and control every minute detail; thus causing stress in the workplace. Micro-Management results in low morale, low productivity levels and ultimately, a loss of money to your business. According to Psychology Today, not only does stress suck the enjoyment out of your work, but it actually kills brain cells and slows thoughts; ultimately having detrimental effects on your business. Stress filters down through companies and causes businesses a multitude of problems. According to HSE, the days lost in 2014/15 due to stress, anxiety or depression in the UK amounted to 9.9 million days; thus accounting for 43% of loss of all working days in the UK.
In addition to this, results suggested that the majority of managers could be over-confident; a real danger in the mercurial world of business. Overconfidence can catalyse biased views of situations and abilities may be misjudged; potentially resulting in failed projects or tasks and vast amounts of wasted money. Finally, results showed that 9% of managers are chronic over-thinkers. Overthinking inhibits ability to think objectively, which in turn increases stress levels; reducing productivity and ultimately, profit.
Fortunately, there are steps employers can take to educate project managers on how to manage their teams and workloads. PRINCE2 (or Projects IN a Controlled Environment) is a structured project management method that was created through the experience of working on thousands of projects. It uses the knowledge of respected individuals, teams, academics and trainers to teach PM’s the importance of good management, helping them to become less stressed and more in control.
PRINCE2 frees up employees to work in a more streamlined way, meaning more projects can be completed on time and on budget. This has obvious monetary advantages for businesses, but more importantly it helps boost morale and make managers feel wanted within the organisation.
For more information on PRINCE2 courses, visit our course guide.