Leadership is integral to effective project management. Without proper direction and motivation, team members essentially struggle to move collectively toward the same objective. However, the global economy is suffering from a lack of effective leaders, and it threatens to take a toll on organizational productivity and innovation.

While leadership development is a broad subject that may require years of training and professional experience, it doesn't mean inexperienced managers cannot become effective project leaders in their own right. Inc. magazine offers some of these critical points for developing your own leadership style.

Project scope - What does the success of your project require? What resources will you need? What's the timeframe involved? How many people do you need? The scope of your venture should be a broad assessment of what's required to achieve success. Take time to understand this fully and direct your employees and team members accordingly.

Schedule - No project can be taken to market without adhering to a precise schedule. It's the job of the managers to make sure that all project components are delivered on time according to their respective deadlines. And a schedule is not always about product launches - they can also be constructed according to financial or personnel concerns.

Team satisfaction - It's easy to get so fixated on customer satisfaction and the successful delivery of your project that you overlook the well-being of your most important asset: your employees. Recognize the natural work/life balance that exists for every worker and be sure to respect it. No employee, unless they're duly compensate, will be as invested in your venture as you, the owner or manager. The trick is to work around this so it's not unreasonable to ask for extra work from time to time.

Work quality - The quality of one team or project will often affect the success of another, so it's critical that you track quality and make necessary adjustments to future projects.

"Remember, recommendations are like free advertising," writes Ilya Pozin for Inc. "If you deliver a strong product, your client will tell people about it, and that's where your next project should come from."