According to me one of the greatest challenges a Project Manager faces are that of communication as mentioned by most above among the many other challenges that are faced by a project manager. Sometimes a lack of communication within the project group members and between the PM and the group members can lead to a lot of problems due to miscommunication which could include missing deadlines or not addressing a problem that would be encountered on the project well on time. This would also include a lack of responsibility in informing the group members the necessary information via e-mails etc. In other cases a sense of over-communication from the PM as was mentioned by @manolo in his post above would also be problem which would lead to a feeling of superiority and would not allow the group members to work as efficiently as they would otherwise.

I think that a challenge a project manager would face, especially with longer term projects, would be how to keep a professional atmosphere. I bring this up because if you are going to be working with someone on a project for an extended period of time, it is difficult to just keep conversation to just work related stuff. Forming friendships, I see it as a good thing. This is due to the fact that if you genuinely like what you do, and who you work for then you will want to do a good job. On the other hand, as a PM, it could be difficult to reprimand someone that you see as your friend. Therefore, PMs have to do a good job of building relationships with their employees while also being able to hold them accountable.

One of the major driving factors of a project is determining the project's cost and budget, which without a doubt becomes more complicated the longer a project's duration is. The PMBOK guidebook dedicates an entire chapter towards project cost management as it acknowledges budget estimation as both a timely process and a potential roadblock down the line. According to the PMBOK guide, when determining a project's cost, a PM must take into account the plan cost management, the estimated costs, a determined budget, and control costs. Plan cost management decides the policies, procedures, and documentation for handing of all expenses, which can be challenging as it requires expert judgment and analytical techniques to form a cost management plan. Estimate costs are an approximation of the financial resources required to complete specific tasks. This can pose a challenge because the approximations are made from what is currently known at the given point in time, which may not be accurate enough to attain an adequate budget.

It can be stated that the greater a project's duration, the more difficult it is to make precise estimations regarding the long-term budget. Cost control is implemented for the primary purpose of updating a project's costs with the status of the project itself. How might the determined budget (pg. 208) and estimated costs (pg. 200) be affected as a project becomes more drawn out? How will these factors be affected if a project is instead abruptly cut short? How does a PM handle an alteration in budget after it has already been finalized?

Reference:
PMBOK Guidebook 5th edition, Project Management Institute

Echoing several responses above, the PM has many important responsibilities. However, I believe that these responsibilities would not be as challenging as communicating effectively amongst all department/ functional areas working together on the project. There needs to be a great deal of transparency which can only be achieved through clear timely communication in order to hold project team members engaged and accountable for current goals, issues, progress, and deadlines. The PM has many tools to accomplish the communication whether it be through e-mail, phone call, meetings, etc. however how he/she relays the message is very important in promoting an environment for collaboration and teamwork. The effective communication would be one critical challenge PM faces that can put a project on a success direction or not.

I think time management is the most challenging one for a PM to handle as there are many phases to the project and each phase has to be allocated a specific time, though the PM keeps extra time for some sensitive phases in the project to be on schedule even if time delay, but sometimes one phase takes more time than expected and the PM has to manage accordingly to make sure the project finishes on time.

The PM is critical in moving a project along. It is their responsible to ensure that the whole team is on the same page and stay on schedule. As seen in this week's mini simulation, sometimes different functional areas collide, which can cause major disruptions to the project's schedule. The biggest challenge of a PM is to effectively intervene in such a disagreement on the team and minimize any delays on the project. Successfully intervening requires a personable approach, where the PM understands each member's personality and treat their concerns equally. The PM must directly engage all parties to discover any and all possible resolutions, or, at least, come to any middle ground without damaging the future of the team, and by extension, the project. It can be tremendously challenging to understand the intent behind each team member involved while in the middle of a conflict.

The most important challenge that project managers face is sharing communications amongst team members. PM's should be constantly getting feedback from their staff, however, they should also be sharing the feedback with everyone else on the team. This can be achieved through weekly update emails or through project meetings. There should never be someone on a team who does not know what else is going on in the project. This is important because if departments are ahead or behind schedule, the other departments need to be aware and make preparations for that outcome. While it may be difficult for engineers to update their fellow team members, it is on the PM to spread the communication around.

There are a wide range of challenges that project mangers face. The most prevailing one is plausibly coordinating conflict and communication between its team members ( without become part of the conflict themselves). Another problems lies in their ability to tactfully address the problem of poor performance ( or laziness ) of certain team members without coming off as being rude or lacking respect toward the team members. There are various ways to resolved the issues, the most recommended method being proper communication. With proper communication and utmost respect, PMs can successfully address these issues if their team members are also very comprehensive.

Marketing problems that correspond to most projects: Marketing is knowing the needs, requirements, desires of the market you are targeting, knowing how much the market needs and how to satisfy this need with the specifications determined by the market

also, how to present your product in the right way, at the right time ,the right amount and the right place.

 The main objective of the marketing process is to satisfy the consumer and satisfy his desires, and this is the problem and the solution together.

The problem is how to satisfy the needs and desires of the consumer. The solution is to know the needs and desires of the consumer and satisfy these desires and needs in ways that make the consumer trust in your product, order and search for it. Marketing is linked to market study, consumer desires, and how to present the product in good promotional ways.

Risk management is one of the project
management issues that project managers need
to deal with. Oftentimes, projects don’t go
exactly as planned. An effective manager knows
how to collect information, develop trust and
anticipate which parts of the project are most
likely to fail. He needs to develop control
measures to prevent them from occurring. There
is also a need to develop contingency plans that
are clear and proven effective

One challenge that project managers face with projects is making sure each task stays on track with the Gantt Chart. Each member of the group has to make sure to do their part in the project but sometimes problems arise, and delays happen. People get sick and have to take time off which can mean that the timeline has to be adjusted. The project manager must either make sure there are people for back up who can finish the job or make sure to account for sick days and vacations that can cause these delays to stay on track with the timeline. Any delays in the project can push other parts of the project back which means the release dates will be much later than anticipated. Project managers have to make sure to have meetings with the group to make sure everything is going smoothly as well.

The challenges faced by the Project Manager could be internal corporate problems like not defining the goals or objectives properly and that would cause problem in the long run. One of the important problem that PM faces is communication. As a PM, he must communicate effectively with the team members and get alternate ways of solution in terms of problems. As lack of communication or miscommunication pose a huge risk to the entire project.

One issue that PM's face when handling a project includes lack of communication between team members and different stages of the project. Maintaining emails and phone calls and sending new updates can be quite tedious as sometimes people don't work well together and then show lack of communication. The project manager's responsibility is to make sure the team is compatible and sharing new updates.

One of the biggest challenges a project manager will face will be differing personalities within the project team. Being able to manage the members of the team and keep them on schedule and working well will ensure the success of the project, but it's much harder than that in practice. In order to deal with this, the project manager must be familiar with the strengths and weaknesses of each member of the team, as well as understanding their personalities and the relationship between the team members. By giving the right team members the right work that will ensure the project can be most efficient, but it will also allow for the least clashes over directions for the project and how to deliver for the client. But when there are clashes the PM needs to act quickly and decisively. Allowing issues to fester is a great way to kill any momentum on a project. A good PM will get out in front of the issue and handle it before it can grow into a bigger problem.

Personally, the biggest challenge that a PM faces is baby sitting people. People have different priorities, this is the exact reason that a PM is needed. If the project team members understood the priorities of a project, everything would flow smoothly, and a project would be completed with minor problems. However, most people are on multiple projects, and aren't very well suited to prioritize with tasks are most critical. This is why a PM has to constantly follow up with the team members to ask them what their current tasks are, and if they are on track to meet action items and deliverables.