Blockchain Project Manager | Web3 Project Manager Role Explained
A blockchain project manager (in some contexts works as a program manager) is responsible for the overall planning, execution, and delivery of a digital web3 product or service. In other words, they are the ones in charge of making sure that a project or a program (group of projects) is completed on time, within budget, and to the required level of quality. A block chain project manager is comparable to a software project manager, but works with few additional blockchain native tools, processes, technologies and organization setting.
He/she must also be highly organized and detail-oriented, with the ability to juggle multiple projects simultaneously. In addition, a blockchain project manager should have a good understanding of web3 ecosystem, blockchain technology basics, software development processes and methodologies. Project managers mostly work with agile or hybrid approach in blockchain project management.
Traditional or Waterfall Project Management
Traditionally project management includes establishing and managing customer expectations, generating a detailed project plan, defining the scope of the project, and allocating team members to specific responsibilities.
Agile Project Management
Agile project management is an iterative and incremental approach to managing projects. This means that instead of trying to plan and execute all aspects of a project from start to finish in one go, Agile project managers break the project down into smaller pieces (called "iterations" or "sprints") and work on one piece at a time. This allows for greater flexibility and responsiveness to changes that may occur during the course of the project. This is a complete shift from a traditional project manager where the focus is more on planning and delivering fixed scope projects.
There are many reasons why you might choose to implement an Agile approach to blockcian project management in your own work. One reason is that Agile methodology is designed to deal with uncertainty and change. This can be helpful when working on projects that are likely to experience some changes during their execution (such as new customer requirements, changes in budget, etc.). Another reason to consider using Agile approaches is that they can lead to better communication and collaboration between team members, as well as improved output quality. This approach is especially needed in a fast-paced industry like blockchain.
A blockchain project manager needs to be well versed with agile project management methodologies.
What are the roles and responsibilities of a Blockchain Project Manager?
The roles and responsibilities of a blockchain project manager or a web3 project manager in general can be divided into three main categories: people management, process management, and technical management. Let's take a look at each one in turn.
People Management:
As the name suggests, people management is all about managing the team working on the project. This includes tasks such as hiring and onboarding new team members, setting performance goals and objectives, conducting regular performance reviews, and removing any team members who are not meeting expectations.
Process Management:
A big part of being a blockchain project manager is making sure that the project is following the correct process. This involves tasks such as creating project plans, scheduling milestones and deliverables, organizing and leading meetings (both virtual and in-person), tracking progress against the project plan, and identifying and mitigating risks as part of blockchain risk management.
Technical Management:
While you don't need to be a software engineer yourself to be a web3 project manager, you do need to have at least a basic understanding of the technical aspects of the project. This includes tasks such as writing technical specifications, coordinating with different teams (e.g. QA, ops, etc.), overseeing the implementation of the solution, and managing dependencies between different modules/components.
Blockchain Project Manager Skillset:
The skillset required for this role includes excellent communication, problem-solving, and leadership skills. In addition, specific experience with software development methodologies (e.g., Agile, Waterfall) and tools (e.g., JIRA, Confluence) is often required. A web3 project manager must have excellent communication and interpersonal skills, as they will be working with a variety of stakeholders including customers, developers, testers, and senior management. Below listed is the common skillset.
Communication: The ability to effectively communicate with a wide range of stakeholders including customers, developers, testers, and senior management.
Interpersonal: Excellent interpersonal skills with the ability to build strong relationships.
Organizational: Highly organized with the ability to juggle multiple projects simultaneously. - Detail Oriented: Pay close attention to detail in order to catch errors or potential problems.
Technical: A good understanding of blockchain software development processes and methodologies. Basic understanding of blockchain architecture, smart contracts and compliance requirements is needed.
Leadership: Motivate and lead the project team to success.
Management: Possess excellent time management skills with the ability to prioritize tasks correctly.
Web3 specific skillset for Blockchain Project Management
Most of the teams working in crypto and web3 projects are remote and distributed. Hence an experience and knowledge of remote working and managing distributed teams in different time zones will be crucial.
Like the decentralized nature of the technology, teams can be decentralized especially if you are working in a DAO. Async best practices will help in coordination and communication.
Web3 has brought in a lot of possibilities and the tools enable us to implement there. A basic knowledge of tools like discord, notion, POAP, snapshot, sesh and coordinape is an added advantage.
Web3 teams are geographically distributed and as a project manager its expected to know the cultural differences or language barriers and encourage an environment of inclusion and diversity among the project teams.
Another crucial aspect of a Blockchain Project Manager's role in Web3 is staying abreast of the latest trends and developments in the block chain and cryptocurrency industry. This includes:
Continuous Learning: Keeping up-to-date with the rapidly evolving blockchain technology, cryptocurrency market trends, and regulatory changes.
Innovative Mindset: Exploring new blockchain applications and innovations to enhance project outcomes.
Adapting to Regulatory Environments: Understanding and navigating the complex and evolving legal landscape surrounding blockchain and digital currencies.
Networking and Community Involvement: Actively participating in blockchain communities and networks to stay connected with industry leaders and innovators.
Staying informed and connected within the industry and networking is essential for effectively managing blockchain projects, especially in the dynamic changing field of Web3.
Day to day activities carried out by a Blockchain Project Manager:
Work closely with stakeholders to gather requirements and ensure that they are met
Coordinating with engineering teams, QAs, design, and product groups
Creating release plans and schedules as per timelines
Managing risks and issues, dependency management
Tracking progress and milestones
Reporting status to senior leadership
Coordinating resources in a cross functional team
Motivating and leading the project team
Facilitating team meetings, show and tells or demos
Organizing training programs for new employees
Performing post-mortem analysis on releases and market launches
Managing client and stakeholder relationships
Working with competing priorities in a fast-paced environment
Project Management Best Practices to get started with your first Blockchain Project
1. Choose the right tool for the job:
There are a number of different tools that can be used for managing a project. When choosing a tool, make sure you select one that will fit the needs of your team (e.g., Jira Software for engineering teams or Clickup, Asana etc).
2. Iterate early and often:
The whole point of being agile is to deliver working software as early and frequently as possible. To do this, you need to break your project down into small pieces that can be completed quickly. Implementing scrum framework will help incremental and iterative delivery of value.
3. Get stakeholder buy-in:
One of the benefits of agile is that it allows stakeholders to get early feedback on the progress of a project. Before starting a blockchain technology or web3 project, make sure you involve all relevant stakeholders in planning and execution so that they know what to expect and can provide timely feedback.
Who is not a Project manager
A project manager is responsible for the successful execution of a project. Project Manager’ is a loosely used term and sometimes it can become confusing to draw a line of responsibilities and accountabilities, both for the employee and employer. A project manager might take up or facilitate additional activities other than the ones listed above, but it is required to explicitly mention the same wherever applicable. There are many misconceptions about who can and cannot be a project manager.
Scrum Master is not a Project Manager:
A Scrum Master is not a Project Manager because they do not have the power to make decisions on behalf of the team. A Scrum Master is a servant leader who helps the team stay focused and productive. They do not manage the project, they facilitate the project.
Operations Manager is not a Project Manager:
An Operations Manager is not a Project Manager because their focus is on daily operations rather than on executing a specific project. An Operations Manager ensures that the company runs smoothly on a day-to-day basis. They may be involved in projects, but their primary focus is not on executing projects.
Product Manager is not a Project Manager:
A Product Manager is not a Project Manager because their focus is on the product management and product strategy rather than on executing a specific project. A Product Manager's job is to ensure that the product meets the needs of the customer. They may be involved in projects, but their primary focus is not on executing projects.
Marketing Manager is not a Project Manager:
A Marketing Manager is not a Project Manager because their focus is on marketing rather than on executing a specific project. A Marketing Manager's job is to promote the product or service. They may be involved in projects, but their primary focus is not on executing projects.
Opportunities for Project Managers in Web3
As a project manager, there are many exciting opportunities in the world of web3.
Development of dApps
One of the biggest areas of growth in this space is the development of dApps, which are applications that run on a blockchain and are not subject to the control of any single organization. As a project manager, you can play a key role in the development of these applications, helping to plan and coordinate the work of different teams and ensure that the project is completed on time and within budget.
Development of decentralized finance (DeFi) applications
Another area where project managers can play a crucial role in the world of web3 is in the development of decentralized finance (DeFi) applications. These applications allow users to access financial services, such as lending and borrowing, without the need for a traditional financial institution.
As a project manager, you can help to oversee the development of these applications and ensure that they are built and deployed in a way that is secure and compliant with regulations.
Decentralized identity (DID) solutions
Finally, there are also many opportunities for project managers in the growing field of decentralized identity (DID) solutions. These solutions use blockchain technology to allow individuals and organizations to have greater control over their digital identity and the personal data that is associated with it. As a project manager, you can help to oversee the development of DID solutions and ensure that they are built in a way that is user-friendly and effective.
Overall, the world of web3 offers many exciting opportunities for project managers, and those with the right skills and experience can play a key role in the development and deployment of decentralized applications, financial services, and identity solutions.
Role of Project/Program Manager in Digital Projects
Building a successful digital product involves a structured approach and involvement of the PM from ideation through to adoption. Below is a table that outlines the key activities and deliverables at each stage of the project lifecycle.
Stage | Activities | Deliverables |
Ideation | - Market research and analysis - Identifying customer needs - Brainstorming sessions - Feasibility studies - Technology assessment | - Project concept note - Market analysis report - Feasibility report - Technology selection |
Planning | - Defining project scope - Setting up the project team - Developing project schedule - Risk management planning - Budgeting - Stakeholder analysis and engagement | - Project charter / Scope baseline - Project plan, including timeline and milestones - Budget and Resources plan - RAID Sheet - Stakeholder List |
Execution | - Agile sprints for development - Regular team meetings and stand-ups - Continuous integration and delivery (CI/CD) - Quality assurance and testing - Stakeholder updates and management | - Working software/application - Sprint Demos - Test reports, Coverage - Progress tracking and reporting to stakeholders |
Launch | - Finalizing deployment plans - Marketing and communication strategy - Training and support materials for users - Launch event planning and execution - Monitoring and addressing immediate feedback | - Final product release - Marketing and comms - User manuals and training - Launch event materials - Initial feedback report |
Adoption | - User training sessions - Continuous monitoring of application performance - Gathering and analyzing user feedback - Iterative improvements based on feedback - Marketing and promotional activities to increase adoption | - Training session materials and recordings - Performance and usage reports - Feedback analysis report - Updated versions of the application - Adoption rate reports |
Conclusion
In conclusion, being a blockchain project manager is no easy task! It requires a diverse skillset that encompasses both people management skills and technical expertise. However, if you have what it takes to handle this demanding role, then it can be an extremely rewarding experience both professionally and personally. With excellent communication, organizational, leadership, and technical skills, you will be well-equipped to successfully manage software projects from start to finish.
With the expansion of web3, blockchain, and crypto technologies, the demand in competent blockchain project manager jobs is rising. Blockchain technology is here to stay, and it presents an excellent opportunity to develop an enriching career in blockchain project management.
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Coming up in the next blog - 'Agile Project Management to Run Successful Web3 Projects'.
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