Planning, organizing, and managing a project to accomplish a specific objective or result is known as project management. Project management methodologies have been created to aid in the use of a systematic approach to project management and the successful delivery of projects. Every business depends on projects to achieve many of its short-term and long-term goals.
Project management can be a rewarding and fulfilling career choice for those who have an organized mindset and enjoy seeing the results of their work. The Project Management Professional (PMP) certification training program by Quadra Plus, evaluates a professional’s understanding of project management as well as their ability to apply that knowledge when organizing and carrying out a project.
Project Management Future in the Age of Advance Technology
Recent years have seen a significant change in project management as a result of new trends including remote teams, digitization, and automation. The core focus of a future project manager will be on understanding and leveraging technology to deliver more value. Be prepared for the oncoming tidal wave of change caused by technological innovation by gaining below abilities that any project manager must have in the future:
- Data Science
- Conflict resolution
- Resource management
- Strengthen soft skills
Project Management is High in Demand
Despite the challenges and upheaval that businesses are now facing, the most exciting aspect of project management’s future is potential. The most recent PMI-commissioned talent gap analysis by Anderson Economic Group (AEG) reveals excellent job and career possibilities for project managers & project management-oriented labor force in project-oriented sectors is predicted to rise by 33%, or almost 22 million new employees, through 2027. There is a high need for practitioners with the essential mix of competencies – a combination of technical, leadership, strategic, and business management skills.
Project Management Future Trends
Over the last five decades, significant changes have shaped the project management profession, especially the globalization of the field and the expansion of methods, techniques, and practices used in project management from sticky notes to corporate SaaS solutions.
Businesses today rely significantly on technologies such as AI, Digitalization, and Automation to plan, execute, and monitor their work. These innovations have improved business management capacities and altered project management’s future.
By 2030, 80% of project management work will be automated and future managers would need more technical abilities. They must be knowledgeable about cybersecurity, blockchains, machine learning, and robotics, all of which are expected to play larger roles in management. Looking ahead, new trends continue to emerge, project management continues to evolve significantly, and organizations must stay up or risk failure.
Future Trends of Project Management:
- Expansion of Artificial Intelligence (AI) & Automation
Businesses employ AI to ensure successful project completion by gaining performance insights, analyzing and improving estimation and prediction, improving and supporting decision management, data visualization, performing risk analysis, and optimizing resource scheduling.
- Increase in Soft Skills emphasis
Education and experience alone do not provide a competitive advantage in the job market.Businesses are emphasizing soft skills as AI tools take over the rote portions of the job.Building relationships with team members and managing stakeholders is necessary for project managers to succeed in their position. These are merely the by-products of effective leadership. Outstanding leaders are able to effectively convey their vision, have excellent problem-solving abilities to remove project bottlenecks, and can bring team members together for a single objective.
- Inclusion of Hybrid Project Management approaches
Methods of combining approaches from the traditional Project Management environment and the agile world are referred to as hybrid project management. This concept is gaining popularity, and the number of project managers and Scrum masters mixing many approaches is growing by the day. When you use the hybrid model, you can centralize all of your projects, tasks, people, and communications, allowing you to make better business decisions. It’s viable to use your judgment to choose which methodology is suitable for a given project. Smart project managers use agile and traditional methodologies to obtain the best of both worlds.
- Emotional Intelligence in Demand
Organizational and analytical abilities are required for project managers, at the same time emotional intelligence is equally important. The job of a project manager requires a thorough grasp of people and to lead projects successfully, they must manage their human resources more efficiently. Failure to recognize team members’ emotions may result in excessive emotional activity in a team & affects the outcome. Learning the art of emotions and understanding what motivates people is more crucial than ever in predicting project success in the future
- More focus on Data Analytics & usage of tools
Data analytics has the potential to generate significant commercial value. A large amount of data is involved in project management. Project managers are increasingly relying on data insights to make informed decisions in order to better manage projects and boost corporate success.
Project Management tools and solutions are always been the game-changing component. These tools assist project managers in planning and delivering projects on time. They also provide a central location for team members to interact and collaborate
- Cloud-first Approach Becoming the Standard
Organizations seeking to expand their operations are looking for cost-effective methods that do not compromise functionality or performance. As a result, cloud computing is the appropriate solution.
- Implementing Strong Cybersecurity Measures
With companies digitizing their ecosystems and embracing remote and hybrid work methods, cybersecurity is more important than ever. Proactive planning and training are required to protect the organization against all types of cyberattacks. Project managers may help cybersecurity initiatives by fostering an environment of knowledge and shared accountability.