The spontaneous rise in discussions around web3 is not subsiding any time soon. As a matter of fact, web3 principles would define the essential prospects for transforming how we use the internet. The popularity of web3 applications such as DeFi and NFTs alongside the prominent role of blockchain in web3 indicate the possibilities for rapid growth of web3. At the same time, jobs in web3 would also emerge as top career choices for tech professionals. The role of web3 project manager has emerged as one of the highlights in the gradually expanding web3 talent landscape. How is a web3 or blockchain project manager relevant for the future of web3? The following post attempts to find the answers with a detailed outline of web3 project manager responsibilities and roles.
What is a Web3 or Blockchain Project Manager?
The interplay between web3 and blockchain could create confusion regarding the role of web3 project managers. However, it is important to consider the fact that web3 developments rely on blockchain technology as a vital component. How? Blockchain offers the benefit of decentralized access to web3 along with other crucial benefits such as security. Therefore, the details of web3 project manager role explained for beginners would also have elements related to blockchain projects. Above everything else, you must have some doubts about the identity of web3 project managers.
Web3 or blockchain project managers, also known as web3 program managers, are the professionals who monitor the overall planning, execution and delivery of web3 solutions. The average web3 project manager salary is around $104,000 per year and could vary according to experience and job position.
Web3 project managers have to ensure that a specific web3 project reaches completion within desired time and budget constraints. On top of it, the most important responsibility of web3 project or program managers focuses on ensuring that the web3 project performs according to desired quality precedents.
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Types of Management Approaches for Web3 Projects
Another crucial highlight in a guide to web3 project manager responsibilities would point at common approaches followed for web3 project management. The work of web3 project managers is similar to that of software project managers. However, web3 project managers would have to focus on blockchain-native tools, technologies and processes.
A web3 project manager must have in-depth knowledge of blockchain technology fundamentals, software development processes and the web3 ecosystem. One of the most striking elements in the portfolio of web3 project managers points to the types of project management. Web3 project managers are likely to utilize the following project management methodologies.
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Waterfall Methodology
The traditional methodology for project management is the waterfall methodology. As the name implies, the waterfall project management approach follows a step-by-step method for project execution. The web3 project manager role explained with waterfall methodology starts with an outline of customer expectations. Subsequently, waterfall project management relies on creation of a detailed plan for the project and a definition of project scope. The role of web3 project managers in the waterfall methodology also focuses on allocation of specific responsibilities for project members.
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Agile Methodology
The agile methodology in project management follows an incremental and iterative approach. It focuses on planning and execution of different aspects of a project simultaneously. The agile methodology involves breaking down the project into smaller components, known as sprints or iterations and working on individual components of the project at a specific instance of time.
As a result, the web3 project manager could capitalize on benefits of flexibility and responsiveness to changes emerging during the project. The agile methodology is comparatively better than waterfall methodology as it enables adaptability to change and uncertainties. Another prominent advantage of agile methodology is the opportunity for better communication and collaboration among team members. On top of it, continuous iterations of project components could also help in achieving better output quality.
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What Are The Roles of Web3 Project Managers?
The roles of web3 or blockchain project managers can be classified into three different areas. You can identify three crucial pointers in the general description of the roles of web3 project managers. The three distinct roles in web3 project management include the following,
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Process Management
The major share of web3 project manager roles and responsibilities focuses on process management. Project managers should ensure that the web3 project follows the correct processes. For example, web3 project managers must work on creating project plans and identifying milestones for the project alongside determining deliverables.
In addition, process management roles of web3 project managers also involve organization and leadership of virtual and physical meetings. The process management roles also call for maintaining track of progress in the web3 project alongside addressing the concerns of blockchain risk management.
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People Management
Another important highlight in answers to “What does a project manager in web3 do?” would refer to people management roles. Web3 project management also requires effective management of members of the project team. The important tasks in people management roles include recruitment and onboarding of new team members.
At the same time, web3 project managers must also define clear performance goals and project objectives for the team. The people management roles in web3 project management also emphasize the need for regular and comprehensive performance reviews. Web3 project managers must also work on removing team members who are not capable of meeting the desired expectations.
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Technical Management
The roles in web3 project management also include technical roles. The review of web3 project manager role explained in detail would focus on technical management roles. Web3 project managers must have a clear understanding of the different technical aspects of web3 projects. The technical management roles call for fluency in crucial tasks such as development of technical specifications according to project requirements.
Other tasks in technical management roles include coordination with different teams and supervising the implementation of desired solutions. Another crucial highlight in technical management roles for web3 project managers is the seamless management of dependencies between modules of the project.
What Are The Responsibilities of Web3 Project Managers?
The lucrative appeal of web3 project manager salary estimates should serve as a prominent reason to start learning web3 now. However, aspiring web3 project managers must also have a clear impression of their responsibilities. What are the activities you should facilitate on a daily basis as web3 project managers? Here is an outline of the crucial responsibilities of web3 project managers.
- Working in collaboration with stakeholders to obtain a clear impression of requirements for the web3 project.
- The answers to “What does a project manager in web3 do?” would also point to the need for coordination between engineering, design and QA teams.
- Management of risks and issues alongside addressing the concerns of dependency management.
- Regular reporting of project status to senior leaders.
- Ensuring engagement of stakeholders and team members in the web3 project through maintenance of transparent communication channels.
- Effective use of best practices for leveraging web3 community platforms.
- Explaining the technical options, costs, risks and limitations to stakeholders.
- Maintaining updated skills according to new trends and technologies in the domain of web3.
- Development of trust-based relationships with team members and clients.
- Planning, development and testing of innovative experiments in web3 technology for improving project outcomes.
Skills Required for Web3 Project Managers
The discussions about web3 project manager roles and responsibilities also draw attention to the skill requirements. Web3 project managers would need exclusive skills in communication, leadership and problem-solving. At the same time, web3 or blockchain project managers must also have experience in using project management methodologies and tools. Let us take a look at the general and technical skills required for web3 project managers.
What Are the General Skills of Web3 Project Managers?
The foremost set of skills you should look for in web3 project managers includes the common skills. Web3 project managers must have fluency in communication alongside promising interpersonal skills. At the same time, a web3 project manager would also need skills and knowledge in fundamentals of web3 technology. Here are some of the crucial entries in general skills required for web3 project management professionals.
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- Communication skills are an essential requirement for web3 or blockchain project managers to ensure effective communication with project stakeholders.
- Interpersonal skills are mandatory additions among skill requirements for web3 project managers to ensure development of better relationships with stakeholders.
- The comprehensive list of web3 project manager responsibilities also demands that project managers must have the ability for effective organization of tasks. Web3 project managers should have the skills to juggle multiple modules of the project.
- Web3 project managers must also pay attention to details in web3 projects for identification of potential issues.
- Web3 project managers also need experience in leadership and time management to drive timely completion of tasks with desired results.
Most important of all, the web3 project manager roles and responsibilities also require professionals to have a technical understanding of web3 development. Web3 or blockchain project managers must have fluency in different components of blockchain architecture, compliance requirements and smart contract development.
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What Are the Technical Skills of Web3 Project Managers?
The technical skills of web3 project managers primarily revolve around fluency in blockchain technology. However, the answers to “What does a project manager in web3 do?” draw attention toward web3-specific skills. Here are the web3-specific skills you need for web3 project management.
- Expertise in the use of web3 development tools such as Discord, Snapshot and others for efficient project management.
- In-depth understanding of DAOs and their underlying principles for establishing new precedents of decentralized governance.
- Experience in working with remotely distributed teams in different geographical locations.
- Awareness of the specifications with popular web3 projects, including NFTs and DeFi.
What Are the Opportunities for Growth of Web3 Project Managers?
The detailed outline of web3 project manager role explained for beginners serves insights into what you have to do as a project manager. In addition, you could also identify the essential requirements for pursuing a career in web3 project management. Web3 project managers could explore many other innovative approaches within the web3 landscape. For example, dApp development or creation of new DeFi solutions can offer additional opportunities to web3 project managers.
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Conclusion
Web3 has the potential to induce transformation of existing technologies, systems, processes and applications on a massive scale. Complemented by the power of blockchain technology, web3 project management has emerged as a notable requirement in web3 domain. You can grab a lucrative web3 project manager salary package with the right training resources to boost your web3 expertise.
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