PM trends

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Key Project Management Skills Needed for the Future?

Key Project Management skills for the future

By Linky van der Merwe

This article explores two major trends that we observe and attempts to understand what impact these trends will have on the skills of project management practitioners in order to position ourselves better for the future.

“We are looking at a future in project management where the definition of success is determined by the creation of business value. There will be continuous scope changes and customer involvement will be mandatory.” says Dr Harold Kerzner, Executive Director for Project Management for the International Institute for Learning. “Project staffing is now all about capacity planning and resource management. The metrics of the future will have to track tangible as well as intangible elements.”

Future of Project Management 

According to Dr Harold Kerzner, business metrics will include:

  • Business profitability 
  • Portfolio health
  • Portfolio benefits realization 
  • Portfolio value achieved 
  • Portfolio selection and mix 
  • Resource availability 
  • Capacity utilization 
  • Strategic alignment
  • Business performance

Major Trends

Let’s look at the major trends impacting businesses today and what it means to the future of jobs.

Trend 1: Customer Experience

By 2020 customer experience will become the key brand differentiator above price and products and customers are willing to pay more for a better customer experience.

Trend 2: Digitization

Digitisation

Digitization refers to things like Automation and Artificial Intelligence, the capability to move work offshore and the demands of the customer changing in frequency and complexity.

The impact of digitization to our workforce will mean huge reduction in jobs and big changes in skillsets. More than half of school children in primary school today will work in jobs that don’t exist yet.

The World Economic Forum is forecasting that 75% of businesses will become fully digital by 2020. According to McKinsey, organisations are responding by retraining, hiring and doing a mix between the two.

Impact on the Future of Jobs

The Future of Jobs Report by the World Economic Forum states that the industries which can expect the biggest disruptions, include:

  • Financial Services and Investors
  • Infrastructure
  • Mobility
  • Information & Communication Technology
  • Professional Services
  • Energy
  • Consumer
  • Health
  • Media, Entertainment and Information

The skills that are in decline can be summarized as:

  • Project Management administrative and tactical skills
  • Data collection and data analysis
  • Predictable work and repetitive tasks

By 2020 skills will need to transition to:

  1. Complex problem solving
  2. Critical thinking
  3. Creativity
  4. People management
  5. Coordinating with others
  6. Emotional Intelligence
  7. Judgement and decision making
  8. Service orientation
  9. Negotiation
  10. Cognitive flexibility

Future Project Management Skills

PMI talent-triangle

For the past few years the Project Management Institute’s (PMI) emphasis on skills has changed to include a combination of technical, leadership, and strategic and business management expertise. The definition of each skill can be explained as follow.

  • Technical project management: Knowledge, skills and behaviors related to specific domains of Project, Program and Portfolio Management.
  • Leadership: Knowledge, skills and behaviors specific to leadership-oriented, cross-cutting skills that help an organization achieve its business goals.
  • Strategic and business management: Knowledge of and expertise in the industry or organization that enhances performance and better delivers business outcomes.

The Strategic Execution Framework

Strategic Execution Framework

Stanford University has developed a White Paper called The Strategic Execution Framework to help companies stay on track, aligning projects with key initiatives to achieve desired outcomes. It is based on the concept that the building blocks for strategic execution are projects, put in place alongside regular operations to achieve specific goals.


The framework consists of six domains easily remembered by the mnemonic: INVEST

The domains include: 

Ideationis your company’s understanding of what it is and how it appears in the world, expressed through its purpose, identi ty and long-range intention.

Nature creates the conditions for strategic execution. It embodies the culture and structure within which, you operate.

Visionincludes the goals, metrics and strategy that form the foundation for your business.

Engagement connects the enterprise strategy to IT project portfolio investments and clearly demonstrates that your company is funding the right IT projects to further its strategy.

Synthesisis where engagement meets execution, ensuring you’re successfully executing IT projects and programs in alignment with the IT portfolio as well as the enterprise’s overarching strategies.

Transitionis the ultimate measure of success, where you move the results of IT project-based work into the mainstream of operations.

Each of the domains presents opportunities for improvement. The framework helps you identify disconnects and barriers to successful strategic execution and it provides a common language and way of understanding how businesses successfully execute, innovate, change, and grow. You can assess your organization within this context and make necessary adjustments to create a foundation for balanced strategic execution.

Skills Gap in the Digital Era

A Price Waterhouse Coopers Report, based on a survey among 1300 CEO’s, indicated problem solving as the most sought after skill, then leadership, adaptability, creativity and innovation, STEM skills, risk management and digital skills.

Considering the survey results, the skills that Project Professionals seemingly need to develop the most are:

  1. business acumen 
  2. leadership skills
  3. versatility 
  4. technology skills 
  5. executive communications 
  6. application of emotional intelligence attributes.

Continuous Learning

Considering how much growth and development is required to close the skills gaps, there are many ways to learn. You can learn by doing (on the job, stretch assignments), learn from others (mentors, shadowing) and finally formal learning, like a degree.

Also refer to this excellent research article by Louise Worsley called: Be a Project Management Professional Learner, providing a break-down of The Future Work Skills 2020 Report.

PM Skills Development Action Plan

Here are some recommendations for you in 2019 to position yourself as a Project Professional in 2020 and beyond.

  1. Develop an action plan
  2. Keep reading to stay on top of industry trends
  3. Grow others around you
  4. Take every opportunity to demonstrate leadership
  5. Be aware of culture as an enabler for project success
  6. Build diverse teams
  7. Always focus on your customers

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Sources

  1. The future skillset needs for Project and Program Management by John Daly, a PMI Organisational Agility Conference 2018 presentation
  2. Future of Project Management by Harold Kerzner 
  3. The Future of Jobs Report by the World Economic Forum, Forrester, Gartner, Accenture, Hay Group, 2020 Workforce
  4. Customers 2020: A Progress Report by Walker Customer Experience Consulting, 2017
  5. White Paper: The Strategic Execution Framework by Stanford University, developed by IPS Learning, LLC and Raymond Levitt and used in the Stanford Advanced Project Management Program.
Linky

5 Project Management Trends shaping 2018

By Ashley Lipman

5 PM trendsProject Management isn’t an industry that stays the same for a long period of time. It’s unpredictable, versatile, and subject to various trends at any given time.

Some of the trends influencing Project Management in 2018 may be old; others may have just emerged. However, the ones to look out for are those that are the most influential.

Want to know what these trends are?

Knowing about the emerging trends will help you manage your projects and get things done more efficiently in 2018:

1. Artificial intelligence is here to stay

AI, short for Artificial Intelligence, is no longer a concept dreamt of in science fiction. Technology like Siri, Echo, and Home are the most popular kinds, but AI is also the base of several PM applications.

Repetitive tasks have been automated and AI software has been applied to PM management more and more over the months.

Project managers are now making use of AI programs to enhance the efficiency of their projects. This includes dealing with resources, streamlining workflow, and giving valuable insights into future plans.

It’s also used in centralising data that could immensely help your team work together even from remote locations. Application performance management and server monitoring | AppOptics is  just another example of how AI is becoming entrenched in this industry.

2. Embedded technology leads to faster project delivery

5 PM trendsSource: Pixabay

We know that technology has become highly portable, even to the point where you can wear a smartwatch to replace your phone, computer, and tablet to some extent. As a project manager, wearable technology enables you to track and enhance your productivity at all levels.

Using smart glasses, head-mounted displays, and smartwatches can enhance the efficiency, safety, and the accuracy of any team. What’s more, the data from such wearable devices can help managers learn what makes team members tick.

Once project managers start paying more attention to what their team members need, they will better know how to motivate them and to create a culture that encourages and rewards high performance.

 3. Remote workers are expanding the workforce

5 PM trendsSource: Pixabay

Project managers don’t require the whole team to be co-located, in fact virtual teams and outsourcing specialist skills has become quite the norm.

With team members working from home or from remote locations, more flexible work hours make for a higher productivity level. Hence, project managers need to be aware of this and improve their skills around managing virtual teams.

4. Hybrid management is the next big thing

Project managers now have to embrace the fact that cookie-cutter solutions (read methodologies) are out of date. They may have followed a traditional waterfall type methodology in the past, but now, it’s time to tweak this according to their clients’ project requirements.

There are certain processes that can help with this kind of project management. One example of these is following an Agile approach, giving companies the ability for faster time to market.

Hence, a project manager who is comfortable with following a hybrid approach is definitely in order. You need to consider several methodologies for approaching different projects. This sort of personalisation and customisation continue to grow more important as time goes on.

 5.  Project managers with emotional intelligence are preferred

Gone are the days when solid, technical skills were adequate for a project manager. Soft skills and a high level of emotional intelligence are now highly valued in the PM industry, and with several good reasons.

In 2018, business owners are increasingly looking for managers who can keep their teams happy, satisfied, and motivated. This combination is one of the best ones for making up a highly productive workforce.

Find some more insights from the “Pulse of the Profession” PMI report here.

These 5 trends are by no means a comprehensive list, but certainly trends to acknowledge and consider for a project professional in 2018.