Key trends in Project Management

The Project Management industry continues to develop in response to constantly changing market environments that organisations operate in. The high demand of the Project Management profession remains clearly prevalent in the jobs market. There are five key trends that are currently observed in the Project Management industry and indicate further trend development in the foreseeable future. The overview of the five key trends for Project Management is presented below.

 

1.  Increased demand for the profession

Organisations are experiencing increased competition levels and ongoing technological, market and social disruptions to their business models. Such factors force companies to adapt, transform and innovate to remain competitive in the industry they are in, leading to an increase in demand for the project management profession that can enable companies to deliver required benefits or transform their ideas into reality. The Project management profession is steadily growing and the demand for project management professionals is expected to reach 88 million within the next 9 years (22 million new jobs, an increase of 33%).1

 

2.  Adoption of an Agile approach

Agile is no longer an approach used solely in IT development alternatively known as the Software Development Life Cycle (SDLC). It is increasingly being adopted across different business industries and project management professions. Organisations adopt Agile to improve their ability to sense and respond to constant internal and external changes. Agile concepts enhance project management by providing greater responsiveness and flexibility in the delivery of projects. This trend is anticipated to grow further over the coming years as more and more companies adopt Agile approach to achieve relevant benefits in a fast paced, productive and cost-effective way.

 

3.  Standardisation of Project Management Practices

The majority of organisations tend to standardise their project management practices to some extent.1 However, these standardised practices are often insufficiently tailored, embedded and rolled out across organisations. This is anticipated to improve over the coming years as companies are becoming more risk-aware and more focused on benefit-realisation. Therefore, improved and standardised project management practices are required to enable companies to reduce risks and maximise their benefits.

 

4.  Increase in automation projects

Automation is highly attractive to organisations as has a potential to deliver massive cost savings. Many organisations had their budgets cut over the past several years which led to a number of automation projects initiated. This trend is anticipated to continue following further budget cuts, lower turnover and the introduction of Artificial Intelligence technologies.

 

5.  Project Management Certifications

72% of Project Management Office (PMO) leaders consider project management certifications to be very relevant for project managers.2 Most of the practitioner level certifications require professionals to maintain their Continuous Professional Development (CPD) post-certification to ensure that their knowledge and skills remain up-to-date with profession related knowledge, trends and recent developments. This is in line with employers’ expectations, as they need capable and competent staff that would enable them to achieve the required objectives and outcomes. The increase in the demand for project management certified staff is highly likely to correspond to the overall increase in the demand for project management professionals in the future. The certification requirement will potentially grow further as more and more companies learn lessons from their projects and identify concerns associated with their staff competence.

If you are considering entering into the Project management profession, based on the current trends, now is the right time for you to do so. Take the opportunity now to learn about project management principles, processes, agile approach and get certified to enable you to stand out from the crowd and fast-track your Project management career.



 

 

1 PMI (2017). Project Management Job Growth and Talent Gap 2017–2027.

2 Pulse of the Profession 2018 (2018).

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