Every research project requires a degree of project management. This is a term you have probably heard being used. But what exactly do we mean by project management?

Project management means high-quality planning. You make a step by step plan on how you intend to reach your final objective. You set achievable aims, realistic milestones and identify other necessary resources (manpower and finances).

As a researcher, you need to complete thorough research to receive external funding and to get your project off the ground. If you are currently working on someone else’s project, make sure that you observe, ask questions and learn as much as possible.

Another key skill is learning how to effectively manage a budget. It might be a task which you have not done in any great depth for your PhD. If so, do gain some further experience of handling budgets. You will need this skill in order to lead your own research project.

As an academic, you might have administrative support to help you hold the purse strings whilst the final decision-making and responsibility will come down to you. As with your own domestic budget, keeping a regular check on monies in and out is vital. Do not bury your head in the sand if things appear to be going wrong. Make sure you match your research goals to the money you have been awarded. Do not overcommit yourself in the hiring of other staff or running collaborative workshops (both of which can cost a lot of money). Remember that the money is there to be spent so do not hoard it! And finally, make sure you keep good records of your income and spending. Your university, funding body or the taxman may want to see your records at any time.