A couple of years ago PM was simple. There were fewer tools, smaller teams, and the projects were considerably simple too. As times have changed, project management has evolved tremendously. This is mostly due to the fact that organizations are also evolving and are employing different techniques so that they can match the needs of the ever-changing marketplace.
Here are a few of the top emerging trends in project management.
Artificial Intelligence and Automation
Artificial intelligence can greatly help automate project management processes. Not only does this help to a great extent when it comes to automating simple tasks, but it also helps project managers get proper insights into the tasks at hand and what needs to be done. Project managers can make good use of automation by using it to schedule tasks, visualize data, and also make decisions based on the information that they get.
The inclusion of artificial intelligence in project management can help to increase overall productivity and will enable project managers to use the available resources in a much better way. Overall, the efficiency of the system will see a great boost.
With so many people coming from diverse backgrounds working in a team together to achieve a common goal, the chances of issues and differences in opinions popping up from are quite high. While emotional intelligence is not a new concept in the workplace, it can add value to project management. By having effective emotional intelligence in place, managers will be able to better understand the issues that the team is facing, which will help them solve a lot of their issues.
Not only does this prove to be great for the team, but the team members feel much better when they are understood. It makes them feel like they are an integral part of the process, which motivates them and increases their desire to achieve their goals and meet their targets. According to a survey done by TeleSmart, 58% of the respondents were of the view that emotional intelligence is a very strong indicator of performance. Learning the art of emotions can help project managers better understand the needs of their teams, which will only serve to increase team morale and efficiency.
The world has become increasingly borderless, and it has become very common to have remote teams work on projects. A distributed team structure is much more productive and is also much more cost-effective. In the world of project management today, it is very common to have people from all over the world on one project as part of a team.
With the right set of management tools, such teams can be extremely productive. Alongside that, there are a lot of benefits of working with remote teams. There is a lot of flexibility in the schedule – people can choose when they want to work, which has been seen to positively affect their productivity.
People don’t have to commute to the office every day, which means that those who can’t make it to the office for whatever reason can still complete their tasks on time. Working with a diverse talent pool can also be very interesting.
Project managers are increasingly making use of numbers to get useful insights into their projects. To get this data and these insights, project managers are making use of data analytics tools. Collecting real-time data by making use of this cloud-based structure is helping project managers make much better decisions.
Analyzing the data presented to them can also help project managers understand the risks of a certain project. If they’re aware of the risks, they’ll be able to put procedures into place to mitigate these risks. Industry professionals are of the view that by 2020, the role of data analysts will be a very crucial one. Data analytics tools that are currently being used to assist project managers include Google Data Studio, Tableau, and Power BI.
Hybrid Approaches to Project Management
Just like all projects aren’t the same, in a similar way, all teams cannot work with the same methodology. That is why hybrid project management has gained a lot of attention in recent years. Project managers and scrum masters are now using different methodologies to work with different teams.
Approaches from the traditional world and the agile world have now been combined to manage different types of people in a way that allows them to perform at their best. When team members are given the flexibility to work to their strengths, they’re able to complete their tasks on time, and to the best of their abilities.
Kanban is a Japanese word that translates to “billboard” in English. This term was first coined by Toyota, and since then, it has been integrated into the field of project management, where it’s being used to this day. This is a cataloging approach that can help manage an organization’s workflow – a visual board and Kanban cards are used to help divide tasks.
The Kanban board has been proven to be more useful in projects of an agile nature. This is because such projects can accommodate changes to the requirements or the scope.
All in all, this board helps project managers manage tasks in a centralized way, which ensures that they don’t get stuck at any point in time.
With the rapid pace at which technology is growing in today’s world, it is highly important to have security measures in place to ensure the safety and privacy of the data and the project. Cyber attacks are increasing every day at an alarming rate, and so it is essential to protect projects and methodologies used to work on those projects.
Comprehending these project management trends in detail can help organizations and project managers understand what’s next in the world of project management and how they can get a leg up on the competition.
As a project manager, you must take into consideration many different opportunities and challenges that you will face. Understanding your projects contingencies has become a crucial part of cultivating success. Similarly, understanding your role as a manager and your role as a team mediator and coordinator is just as important.
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