My main task is management of a game development project.
The tasks and responsibilities certainly differ from project to project, but generally budget management, schedule and production management, communications and negotiations with partner companies and clients are all things that are part of the job.
It isn't the game itself that is being worked on, but a support position for the producers and directors so that the development process goes smoothly.
You always need to be aware of the various issues that will pop-up during the development process, therefore you need to be observant to a wide array of things within the project. Often one of the difficulties is finding solutions to issues within the constraints of the options available. However, when you do this and help to deliver game to release, the feeling of accomplishment is all that much greater.
There is never a single 'ideal' project management system. If you lock yourself into a rigid process, it probably won't work out. I am always striving to have great communications with the Producers, Directors and create a workable system and solution that best fits their needs.
It takes all sorts, but a skilled communicator is key. Understanding of not just the surface level of comments, but really getting the framework of what is being communicated it very important.
For people who haven't been involved in the management for game development before, it will be important to appeal to the development team, not just your understanding of the work involved, but of your place in the team and how you are there to support them.
I believe that the development abilities are excellent and the company development environment itself is in the top class within the industry. Much of the staff are motivated to 'create a fun game'. I feel it is ideal environment to create a game.