Blockchain project manager is one of the lucrative career choices at the moment. To help you out in your career path, we will dive deeper into dissecting what skills you will need to become one. So, grab a cup of coffee and read on!
Blockchain technology disrupts all industries and gives rise to new opportunities for engaging people, accomplishing tasks, and doing business. However, it doesn’t matter how much this technology automates processes because people will always take the initiation for business or personal needs at the end of the day.
Therefore, one of the most crucial phases in the blockchain development life cycle is the project initiation phase, which will always have project managers, clients, and stakeholders. They are responsible for outlining the objectives, purpose, roadmap, and deliverables. So, the need for a blockchain project manager will never cease to exist.
You can seize this opportunity and ensure a secure career in this field. However, you will need to master specific skills in order to become a project manager. This guide will cover what skills or educational qualifications you will need to land a job as a blockchain project manager.
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Who Is A Blockchain Project Manager?
Project managers are at the head of every decentralized ledger project, who acts as the link between developers and the clients. Basically, you will make sure that developers are on point about each project’s scope and ensure that you can meet up with the client’s expectations. In reality, the blockchain project manager is responsible for managing the team. Along with the team, you will mostly work on the database system, processing systems, and the project’s token economy. If the project is not based on a token economy, you will oversee the entire blockchain infrastructure process.
Basically, the blockchain project manager job description includes resource monitoring and reporting, overlooking security protocols, transaction management systems, and developing any specialized feature. In fact, the manager can even handle the issue that comes from blockchain processes.
As you know, the ledger system and processing units are at the heart of every blockchain technology-based projects. So, it’s very crucial to make sure that these systems have the highest performance and reliability. Therefore, you will have to make sure that these processing activities are always at their peak efficiency and reliability.
In reality, blockchain project management covers everything starting from developing roadmaps to deploying the solution. And blockchain project manager is at the heart of it. No matter what industry you are working in, you are the only one to guarantee a project’s success.
So, you see, this career comes with a lot of importance and responsibilities. That’s why this job is worthwhile.
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What Skills Do You Need to Become a Blockchain Project Manager?
You will need to master certain skills in order to get a job as a project manager. More so, enterprise these days seeks experts only. So, you need to make sure your resume is enriched enough for that.
Get thorough knowledge about Blockchain Essentials
Blockchain project manager jobs will require you to know about blockchain technology. This may include a general or expert level knowledgebase on the topic. So, before diving into the blockchain’s technical part, you need to first understand how the technology actually works.
Usually, the basics contain an idea of what the technology is, how it works, how each of the core elements works, and so on. So, start off with learning the definition of blockchain and then slowly move your way to complicated topics like smart contracts.
Generally, it’s a good idea to start with a blockchain project manager course to learn about the technology from a professional trainer. This way, you will surely skill up in no time.
Learn to Couple Business with Blockchain
As a project manager, it’s vital for you to know how you can couple blockchain with business. For example, your company may want to integrate a blockchain solution to their existing system (in most cases, to increase the efficiency of the processes). But if you don’t know how blockchain is compatible with your company’s business model, you can never pull it off.
In reality, it’s one of the crucial tasks that you definitely have to master. So, I will suggest you start by trying to couple blockchain with existing business models. Once you are capable of pulling that off, you can move to create new business models on top of the blockchain.
In reality, this skill can land you very high-paying jobs as most enterprise companies don’t know how the tech can work with their business.
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Learn to Develop Blockchain Implementation Strategy
Naturally, you will have to be an expert in developing blockchain implementation strategies. If you don’t have a clear-cut strategy in mind from the start, then creating the solution will be hard. Anyhow, if you don’t have any prior expertise or knowledge on the topic, then it’s best to study blockchain implementations that are already successful.
What good will it do? Well, for starters, it will help you analyze how other companies strategized their blockchain solutions. When you begin to see their take on the matter, you will soon catch up on special tactics.
More so, you can join a consortium or a community to better understand how others work. In reality, the blockchain community is vast and supportive. So, you can get a good experience from these communities.
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Polish Up Your Leadership and Management Skills
Your job responsibility will heavily depend on this skill. Therefore, you need to make sure that you can become a master of this skill. In reality, you have to be a people person. Blockchain project manager jobs will include you leading a team of professionals through the full cycle of blockchain project development. Without your guidance, your team can’t pull it off.
So, it’s a necessity for you. Therefore, make sure to sharpen your leadership skills. Without your lead ensuring a solution’s success is challenging.
Also, as a manager, you have to coordinate with your team members as well. A clever leader will always figure out their strengths and weaknesses and assign tasks based on that. More so, you need to balance between your stick and friendly persona as well.
Overdo any of it, and your team may fall apart.
Get Familiar with Blockchain Project Management Tools
There are many project management tools based on blockchain technology. In reality, you can use these tools to accelerate the development process of your project. More so, these are efficient in saving your time and resources. Testing is also easy with them. Aren’t they great!
But yes, you do have to know how to use them and keep these tools included in your development process. At this moment, many enterprise companies want professionals who are comfortable using these tools and can get things done faster.
So, for your management process, it’s actually a necessity. So, make sure you know about these blockchain project management tools and use them properly.
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Be Efficient in Blockchain Risk Management
Another one of the blockchain project manager skills you need is to be efficient in risk management. With the blockchain project comes an enormous amount of risk. In reality, the stakes aren’t only limited to the technical aspect but also business outcomes.
So, you see, if you don’t have risk management skills, you can’t foresee what your client or company may have to deal with in the future. More so, most of the time, you will have to take unique endeavors, which will come with uncharted territories.
If you can control the risks, no matter how unique they are, it shows that you are on top of your game. This is an excellent opportunity to get bonuses and quickly to rise to the top.
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Possess Knowledge of How Standards and Ecosystems Work
Blockchain project manager training can help you possess the knowledge of understanding how the ecosystem and standards work. At present, the differences between each ecosystem’s standards are massive, and that’s why it’s quite impossible to attain interoperability among them.
But as the standards seem to vary, you should learn how they work and which path you need to follow. For example, Hyperledger and Ethereum come with variable standards. More so, Hyperledger focuses on permissioned access and Ethereum public access.
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Have Strategic Skills for Faster Problem Solving
A blockchain project manager needs to be strategic. Strategic skills are incredibly crucial for you to become a project manager. In reality, working on a new project in an enterprise environment can generate a lot of issues.
Therefore, you will have to take the responsibility of solving them, and you have to do that as fast as you can. But make sure that you don’t make errors while doing so because that can lead to losses. So, you have to hone your strategic skills to perfection before you can even apply for a job.
I guess for that, checking out case studies on systematic issues helps you out a lot. However, do remember that most of the time, you will face unique problems. And so, you have to come up with unique solutions to solve them.
Be an Expert in Budget Management
Budget management is one of the crucial parts of a blockchain project manager. Well, you won’t have to be a whiz at math, but a good sense of budgeting can get you a long way. One of your essential tasks will include making sure to use the project’s budget as efficiently as possible.
It’s okay if you go only a little bit over sometimes, but you have to make sure that most of your projects get done within the budget.
If you are an expert in cost management, you can pull off any project even if the budget is too tight. Another critical thing to keep in mind is the various strategies you can implement to reduce the cost without compromising the quality.
Know-How the Blockchain Architecture Works
This is another technical aspect of the job post that you need to excel in. Blockchain project manager skills cover knowing how blockchain architecture works. You need to stay updated with all the latest architectural discoveries in this niche.
Again, understanding how hash functions or consensus works is a plus point.
Pro Tip: Go through all the whitepapers of popular enterprise blockchain platforms. It will help you understand how the blockchain infrastructure works.
In reality, it’s also an excellent practice to increase your innovation skills. But you have to devote a lot of time to harness this skill. You can also get a blockchain project manager certification to get proper training from a qualified instructor.
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Possess a Deeper Understanding of Different Blockchain Platforms
You know that there are various types of blockchain platforms, and not every single one of them is suited for every kind of project. So, you need to learn how these various types of platforms work in order to develop the POC for the project.
Basically, there are three types of blockchain – Private, Public, and Federated blockchain. You may also see hybrid blockchains too. In reality, all of these have different features, strengths, and weaknesses.
So, make sure to learn about them thoroughly. Without understanding them, you can’t make an educative decision on which platform suits your client’s needs.
Learn to Make Operational Long-Term Strategic Planning
Making operational long-term strategic planning is a must for blockchain project managers. So, you have to excel at this too. In reality, you can start with defining and determining the project’s scope and what your objectives are. Next, you have to predict how much resources you will need to reach the goal and manage them most efficiently and effectively.
In reality, creating a schedule for every task and managing a work plan will get things done quickly. So, once you are able to define these, you can lock your long-term planning without any issues. I believe this is one of the fine qualities a project manager should have.
Master Smart Contract Development and Management
You may think you won’t have to master this skill, but in truth, you will have to maintain contacts with clients. And with blockchain comes smart contracts, so it’s necessary to know how to use them.
Part of your responsibilities will include managing suppliers. But without skills in smart contracts, you can’t do that. Contract management will focus on managing these procurements.
The best way to do it is to go for a blockchain project manager training that includes smart contracts. In reality, you can use this type of training to learn about the development process and train on managing them.
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Get Experience with Blockchain Project Development Life Cycle
Basically, the blockchain project development life cycle may include 8-10 steps. These will start with identifies the issue and goal of scaling the POC and launching the product. However, the best way to learn about it actively participating in it.
If you are just a beginner, then go for intern jobs that focus on development. As an intern, you can see how the manager handles and successfully launches a product. Furthermore, if you are already an expert, then you should already have the potential to successfully pull off a whole project.
But in any case, if you don’t, then for a job in a blockchain software development firm and gain experiences. It will enhance your resume, and big companies will want to hire you with a good salary.
Be an Expert in Blockchain-Based Software Development
This is a plus point when it comes to project managers. As you will solely work on tech and IT niche, you can’t lead your team members in the right direction without proper knowledge of software development.
For example, you will have developers and engineers on the team. So, when they hit a rough patch, you have to help them solve the issue correctly. But if you don’t know how blockchain software development works or don’t know how to program, then you can’t assist them in any way.
Frankly, without it, you won’t be qualified for the job. So, make sure to hone this skill to perfection by practicing daily.
Enroll in An Enterprise Blockchain Certification Program
A little secret tip for you – a certification on enterprise blockchains really goes a long way. This is actually one of the best ways to get a head start on your blockchain journey. At present, there are many courses on the market.
But you have to make sure to get the best one in the market. Basically, most courses don’t offer the value you really need for the money you are spending on them. Using these courses, you can quickly understand the fundamentals of blockchain, how different architectures works, and the major risks associated with the tech.
In reality, with the help of blockchain project manager certification, you can enrich your resume and quickly get a post with high paying salaries. I mean, companies are looking for experts and having a certification on it really showcases your worth.
Why Should You Become a Blockchain Project Manager?
High Demand and Future Prospects
Demands for blockchain project managers are skyrocketing. Now that blockchain is slowly becoming an established niche, many companies are working on solutions. So, this is giving rise to the demand, but the supply of qualified people is still not enough.
You can easily use this opportunity for your own benefit.
Blockchain project manager salary can range from $60k-$136k. Obviously, the more experience you have, the more salary you can demand from the enterprise companies. In reality, because of the high demand for this position, the blockchain project manager salary seems to be getting more attractive. Not only this, but you can also expect to get a share of the projects you will work on. So, in the end, it’s an excellent opportunity for securing the future.
Flexible Working Hours
If you have checked out any job posting relating to this post, you might have noticed the flexible working hour benefit. Almost, all the blockchain project manager job description includes that they offer flexible working hours.
That’s because your work is mainly per project-wise and the work you will have to do will vary significantly based on that. But enterprise companies are willing to let you off the hook and not make it necessary to maintain a 9-5 schedule.
Opportunity in Various Industries
Now that blockchain is usable in various industries, your opportunities are endless. If you want to work in the supply chain, you can, but you can also work in finance as well. Almost all the industries can benefit from this tech, and for that, most of these companies are focusing on developing solutions for their sake.
Training for CEO Level
Practically, the responsibilities of a CEO match with project managers. In reality, they both manage people and business models. So, you can consider taking this job position to get training on how to become a CEO.
Furthermore, it’s a good opportunity to level up and learn about the high authoritative positions.
Work on Unique Projects
Blockchain is a fairly new technology. So, you will see a lot of unique projects that you never even imagined before. Using blockchain, you can practically automate anything. So, innovation can never be limited here. You will even act as a change agent who will take part in the new revolution.
Opportunity for Learning
If you like staying updated, then this job can help you do that. The role of a project manager will give you the opportunity to learn new things every single day. So, you have the chance to learn about a completely new technology that’s going to be the future of our business ecosystem.
Can it get any better than that?
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Lastly, as you noticed, the need for a blockchain project manager will never cease to exist. Blockchain technology is here to stay, and it’s a good opportunity to build a career of a lifetime. But for that, you need to become an expert in all the job responsibilities you may have.
You can take the first step through our enterprise blockchain professional course if you want to learn about blockchain in an easy way.
*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!