5 Global Trends in Project Management that You Should be on a Lookout For

Business setups have become complex. The requirements, threats solutions, and execution now face variables that were not in the picture a couple of decades ago. So, it does not come as a shock that the means to tackle them have become more intricate as well. Project management has evolved. It has evolved to an extent where it no longer can be visualized as a single set process but has branched out and is becoming more complex by the hour. 

While you might have witnessed the subtle shift as an experienced professional in project management or might have been born into the changing dynamics as a fresher starting his career, it is important to identify and acknowledge the trend shift. In this article, we will identify a couple of changing trends in Project Management spectrum and discuss what you can do in order to stay tuned with these shifts.

1. Expanding Automation and engagement of Artificial Intelligence

With the increase in the number of variables, it becomes difficult to monitor all of them on a regular basis. Owing to this, Automation is being used extensively to monitor these variables and AI is being used to deduce appropriate actions. Use of AI and machine learning basically helps you free up space for you to attend to other important aspects of projects. In the current scenario, automation is radially taking up small tasks like setting up alerts for business meetings, sending an initial response based on multiple triggers like a greeting message to a new client visiting your website for the first time. While automation is taking off small tasks from your plate AI is gaining momentum is improving the responses. For example, in digital products and services spectrum, AI algorithms are being used to tailor companies’ products and services in real time to suit the needs of the customers. AI also has the potential of assisting in the prioritization of tasks and allocation of resources. AI bots are now capable of running the simulations and delivering optimized scheduling and allocation of recourses in real time, adding to the adaptability of processes.

Another area, where automation and machine learning is finding utility, is the collection of data and data analysis. AI research teams are developing machine learning systems capable of augmenting a project manager’s decision-making ability based on the observations of other projects. All of these makes Automation, AI and machine learning key players in project management spectrum in the coming years.  

What do you need to do?

Acceptance is the initial step. Use of these tools can help you clear out space for you to indulge in more human-powered relationships with your team and clients. You can start small with your emails. You can sort your inbox based on multiple filters that will keep emails from your clients and employees separate and offer much better inbox management. While this was a very small example, you can also:

1. Automate scheduling, resource allocation and invoicing through various project management tools.

2. Identify bottlenecks and eliminate them. You can allocate AI to monitor the process and identify bottlenecks.

2. The advent of the hybrid approach

Agile is no longer a new concept. It is being used extensively in various organizations. The waterfall approach is being alienated from a lot of areas. However, both agile, waterfall along with other methodologies might not produce the best result individually. The Hybrid Approach has shown great prospects and organizations are drifting towards a combination of these methodologies during the lifecycle of a project. However, the application of these methods in an optimal way remains tricky.

What do you need to do?

It would be beneficial to be updated with the new methodologies. If you want to use various methodologies, you need to know them properly and need to develop the skills to identify the best methodology in a given scenario.

3. The growing need for Managers with High Emotional quotient

While AI and Machine learning have the potential of sharing your workload, they do lace in the aspect of providing the human touch. Several activities like building team dynamics, coordination, initiating learning within teams require a high level of involvement from the project managers and a high degree of understanding between individuals that can be achieved by managers with a high degree of emotional quotient. Every team requires an empathetic listener, a tactful negotiator and a motivational leader at some point or the other.  

What do you need to do?

Developing people skills become of prime importance if you want to transform into a successful manager or leader. Educate yourself on the roles of EM in project management. While it is important to respect the emotions of others, recognizing your own emotions is important as well.

4. Increasing engagement of IoT

IoT is basically a global connection of devices that can access the internet and communicate with one another and other things. With the explosion of digital infrastructure, IoT has intermingled with project management in every aspect from the collection of data to the collaboration of teams. IoT can greatly reduce the human intervention and thus cost of function as they can analyze and respond to their environment. For example, in a production project, various IoT devices can be installed into the various production units to monitor the need for maintenance. In such a case, the project manager can eliminate the need for regular and manual inspections and can get a notification in advance.

What do you need to do?

As a project manager, you will have to find ways to optimize the use of IoT in your existing system. You can use it extensively for monitoring and gathering real-time data.

5. The increasing importance of gathering data and executing prime analysis

Most of the project management and quality assurance methodologies make extensive use of data. We now have the option of gathering extensive and accurate data. But data without the means of analyzing the data and producing sustainable action items are not of much value. As a result, organizations are paying extensive importance to data analytics. The profitability is now being directly linked to how effectively the data can be transformed into suitable action steps.

What do you need to do?

A direct requirement of this scenario is that the Project manager will have to directly step into data analysis. You will have to learn to incorporate data analysis into your process and stay up-to-date with the tools for data visualization and analysis. You will also have to use (and choose) data in ways that effectively present risks, progress, and results to stakeholders.

Project management often changes the way organizations operate. Having an efficient project manager can make all the difference in the execution of the project. If you are a professional working in project management spectrum, you need to keep working to maintain your competitive edge. If you are a fresher with the desire to build a career in project management, structured learning can help you acquire multiple skillsets necessary for success. Certification Planner can assist you no matter which group you belong to. An easy method of achieving both these objectives is by taking up certification courses. While the CAPMhttps://www.certificationplanner.com/APM/Certified-Associate-in-Project-Management-(CAPM)/ICT/Albany/10/1/1 certification training offered by Certification Planner can help you build the basics that you need to know before while starting your career in project management, certifications like PMP, PMI-ACP, CSM, and PgMP can help you validate your knowledge in project management and identify the latest advancements in the domain. All our courses are designed by certified instructors with over 15 years of industry experience. With CP’s certification courses, you also get access to complimentary study material, practice tests based out of actual examination, application assistance and a 100% pass guarantee. You can visit our website www.certificationplanner.com or drop an email at support@certificationplanner.com. You can also speak to our training experts directly at +1 4084185586. Happy Learning!