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Project management news and insights | April 2022

Project management news and insights | April 2022

The Project Management Institute reported that artificial intelligence isn’t waiting in the future. On the contrary, 81% of professionals surveyed revealed that AI is already impacting their organisations. For project managers, this means they could soon be automating time-consuming or mundane low-value-add tasks so they can focus all their efforts on ensuring their project reaches its strategic goal and delivers benefits to the business.

As technology steps in to take over repetitive and complex tasks, the role of the project manager will need to be even more people focused. Individuals with excellent soft skills who are comfortable in conflict resolution, negotiating, or stakeholder engagement will thrive in the industry. This change could also attract new people into project management, and it could be an excellent opportunity for anyone wanting to make a career change.

As the world embraces hybrid and remote working environments, employees now expect to access critical business applications on any device and location. Predictably, a cloud-first approach is becoming the norm for new projects and the management of projects as the shift to new ways of working and building resilience to protect against future lockdowns.

Another trend both in the workplace and around project management is data-driven decision-making. Every business will generate vast amounts of data every day. As a result, data-driven project managers increasingly use analytics to improve outcomes. By leveraging BI and BA tools, they can better manage resources and risks while increasing efficiencies throughout the entire project.

Once again, we can expect AI-powered analytics to increasingly play a role in providing a complete picture of projects in a business. Data visualisation tools will also help bring this information to life and present it in an easy-to-digest format from the boardroom to stakeholders and teams.

Technology will provide a selection of tools that will enable project managers to make real-time informed decisions rather than relying on their instincts or gut feeling. These changes will also free up time to focus on mentoring people and team building to ensure that every project runs smoothly. Proof if it were needed that technology works best when it brings people together.

 

 

Project management skill gap and salaries in 2022 (and beyond)

According to PMI, 87.7 million project managers will be needed by 2027. Much like the overall tech industry, the demand for skilled professionals is bigger than the current supply. With an average salary of £54,657, there is a fantastic opportunity for anyone to gain the required qualifications to become a project manager and begin a financially rewarding and fulfilling career.

Many employees who have completed tasks as part of a project team who are already familiar with the terminology are learning project management frameworks and methodologies in their own time so they can switch careers. PRINCE2 and AgilePM® Foundation courses are globally recognised and have traditionally been attractive qualifications for employers.

However, for people looking to fill the skills gap in the industry, these qualifications will provide the structured methodology used in most businesses for end-to-end project management. So if you are a people person that already has the soft skills required to be a good project manager, consider the current skills shortage and readily available project management courses as your true calling to grab the opportunity with both hands.

 

 

Project management is everywhere

The only limit to a career in project management is your imagination. For example, even developing a rocket that will bring samples back from Mars is led by a project manager. Back down on earth, a certified project manager can work in almost every industry you can imagine, from healthcare and pharmacy to construction, marketing, and IT.

The reality is that every business has become a tech company heavily reliant on technology to serve its customers and ensure its staff can work on any device. The evolving expectations from always-connected consumers also mean that new projects must be delivered quickly to maintain a competitive edge and remain relevant.

Ultimately, every department in every business in the world will have a long list of projects that are expected to finish in a relatively short time without wasting resources. This is an exciting space for project managers because no two days or projects will ever be the same. Aside from the lucrative salary, it’s delivering a finished product, service, or solution that makes a difference before doing it all again with a different team that many find most rewarding. 

 

 

Cost-of-living crisis – how investing in your career can limit your exposure

Although none of us have a crystal ball, there are a few certainties on the road ahead. The energy and cost of living crises will continue as the global economy flirts dangerously with inflation. Emerging technologies and automation will replace repetitive mundane tasks, and some traditional job roles are disappearing forever. But we have been here before.

It’s easy to forget that there was no such thing as a mobile app developer, social media manager, uber driver, cloud computing specialist, big data analyst, or sustainability manager just over ten years ago. These roles replaced jobs that were no longer needed in a digital world, and new positions emerged to help build a new future.

It was once said that history rarely repeats itself, but its echoes never go away. By seeing how the employment landscape is evolving, at the same time as the cost of living is on the increase and savings interest rates continue to drop, there is a strong argument that the best investment you can make is on yourself and your career.

 

Exploring a career in project management could lead you to several courses that will help future-proof your employability and thrive in a well-paid role where no two days are the same. If you need any guidance on how you can better invest in your future, simply get in touch with one of our dedicated project management career consultants today.