In this segment, I will cover the top 5 trends in the area of project and program management. I have selected these 5 trends based on my work with a Project and Program Management Mastermind group that I host at CorpExcellence.com. As part of that Mastermind, project professionals just like yourselves come together online and in con calls to share their experiences from the industry and to learn from others. This ongoing sharing and learning enables each participant to get valuable insights that they can apply not only at their work and contribute to the success of their organizations but it also helps them to get ideas for their personal improvement and to set and achieve higher goals for their careers.
So, let’s jump in and review the top 5 trends in the area of project management.
Increased recognition for the need to formalize the discipline of project and program management
The first general trend tells us that organizations continue to believe in the Project Management discipline and its importance for their organizations. So, this is really good news for you or any of those people who have invested in this profession. Whether we look at what PMI reports on a periodic basis or even from our experience working with different organizations and clients, we can say with certainty that most organizations now are more convinced than ever of the need of successful project management practices to ensure effective and efficient execution of their organizational strategies. With increased pressures on the organizations to deliver new products and services and to transform their organizations for the better, organizations are finding it increasingly important to deliver projects and programs on time. In fact, according to MARK A. LANGLEY, who is the President and CEO of PMI, “If your organization is not good at project management, you’re putting too much at risk in terms of ultimately delivering on strategy.”
Continued Demand for Experienced Project and Program Managers
Moving on to the next trend, and based on the previous trend, the good news is that the demand for good program managers with relevant experiences continues to be high. Accordingly, organizations continue to prefer their PMs to have relevant certifications too such as having a PMP, Prince 2 or PgMP certifications. As a result, more and more people have been getting such certifications. Experienced project managers for example are also applying for the more challenging PgMP certification, which is for experienced program managers. To prove this point, according to Job Growth and Talent Gap report that was highlighted by the Project Management Institute or PMI, by 2027, organizations and employers will need 87.7 million individuals working in project management–oriented roles.
Adoption and Standardization of Industry PM Best Practices
The third trend informs us that to ensure organizational project success, most organizations are increasingly investing in instituting industry best practices, building their organization’s Project Management skills, embracing new methodologies for newer types of projects, starting and building PMOs, etc. Most organizations are also standardizing on these practices by empowering their PMOs and establishing functions similar to Centers of Excellence to propagate those standardized practices. The reason for such a push is that organizations have recognized how investment in industry best PM practices has an enormous impact on the improvement of organizational performance as higher project success rates not only help them in the effective execution of their organization’s strategies but also results in less money wasted in the delivery of projects and programs.
Focus on Delivery of Business Outcomes and Benefits
The next trend is about organization’s expecting their Project Managers to focus on the delivery of real business outcomes and benefits rather than merely getting stuck on the deliverables of the project or program. More organizations therefore want their project and program managers to take on a larger role. Instead of viewing them as ones that deliver a functioning system, for example, organizations task their PMs with an overall organization change responsibility. So, it’s no longer about just delivering a system for example but instead it’s about delivering the overall business benefits and outcomes by bringing strategic change to the organization.
Building of New Capabilities and Competencies for the Digital Age
Next, organizations are building new project and program delivery capabilities to be able to deliver projects for the digital age. We know there is a lot of focus these days on improving an organization’s business agility, operational excellence, and lean way of conducting business. With the world becoming digital at a rapid pace, organizations are becoming increasingly complex and are constantly requiring to launch new forms and types of projects and programs. For example, in the tech industry there is a lot of focus on agile methodologies, DevOps, and so on.
Some of these competencies and skills include the following:
- Ability to lead and manage large scale agile projects and programs
- Knowledge of advanced methodologies and technologies
- Managing teams in a distributed and online environment
- Expertise with new tools and processes
- Ability to work with executives in delivering tangible digital business outcomes
- Knowledge of strategy and strategy execution
- Knowledge of business and strategy alignment
- Knowledge of the digital environment and the disruptive trends to the businesses
- And many others.
We see most top level research organizations attest to this fact as well. According to the PMI Pulse of the Profession:
“While technical skills are core to project and program management, PMI research tells us they’re not enough in today’s disruptive environment. Companies are seeking added skills in leadership and business intelligence—competencies that can support longer-range strategic objectives that contribute to value delivery. We recognize that these skills include an understanding of the impact of evolving technology on both major internal change projects and external customer deliverables.”.
So, these were the five trends that I was able to get from the professionals of our Mastermind group at CorpExcellence.com. If you would like to join that Mastermind so you can share and learn more knowledge about various topics, click on the link below or visit the site at CorpExcellence.com and visit our Mastermind groups on project management, operational excellence, and career development for professionals.
Thank you!
— End