Growing Project Management trends and practices

At present, Project Management is not the same slow-growing platform anymore. Rather, it is continually growing and progressing as a business domain. Even though adopting the practice of regular project management tools and techniques might help save the growing organizations or budding startups from ending up in failure, it is suggested the one must always be aware of the project management trends that change on a regular basis.

To assure the progress of a company, it is necessary that the project management team should be conscious of and adopt the most advanced trends and practices. According to the Project Management Institute report, the companies with a well organized Enterprise Project Management Office (EPMO) are able to reach about 48% higher than their primary goals and objectives successfully.

The major Project Management Trends that will influence the way Project Managers are:

1. PMO (Project Management Office): The pre-defined goals and objectives of a project are met with the help of the PMO (Project Management Office). These possess the natural skill to link the gap separating the practical implementation and the organization’s high-level decisive prediction. Recent research on the various project management facts states that 42% of the projects were able to achieve their objectives with the help of extremely skilled PMO. This information shows that PMOs will surely push the industry to change within the companies.

2. Cybersecurity: Cybersecurity is one of the rapidly advancing career fields today. Since the usage of cloud-based solutions rising significantly, security is one of the serious concerns for project management. Organizations are looking for conventional cybersecurity methods such as cloud signature technologies and General Data Protection Regulation (GDPR) to ensure that their project data practices are maintained and regulated. The job growth in this industry is around 37%. 

3. IoT (Internet of Things): The IoT is primarily a global interface of devices that utilize the internet to interact with the end-users as well as with one another. Internet of Things has the potential of reducing costs and enabling new business models, to begin with, a perspective of a platform that includes application integration and development. IoT tools can play an essential part in project management such as team collaboration and data collection. There are several benefits of the Internet of Things in Project Management, such as faster response, diminish errors, and reducing cost. Furthermore, it gives you an overall monitoring and process controls and allows you to produce better and faster services to the customers. 

4. AI and Machine Learning: Artificial Intelligence (AI) is a buzzword amongst almost every industry. It also has a higher potential to deliver superior output variation to project management. With the progress of Artificial Intelligence, the process of interpreting performance is now automated. The AI-powered machines assist project managers to estimate project competence and enable them to comprehend the performance of the team matches with the benchmark. The application of Artificial Intelligence in future project management will surely transform the complete project management workflow and enhances the effectiveness of the project outputs. The data-driven insights are obliged to provide an additional increase in performance to the entire method of maintaining the project.

5. The mix of design thinking and agile: Design thinking supports project managers in generating answers for which combined strategies are utilized. The answers may be obtained from social sciences, business, or engineering practices. Design thinking guides project managers when they seek to improve the essence of the project, determine terms and look for solutions for unusual issues. The methods of design administration or web design as a trend will increase as more and more organizations today encourage their project managers to acquire them.

6. Continuous integration: Continuous Integration (CI) is a practice for development. It needs developers to blend code into a distributed repository numerous intervals a day. Every check-in is later tested by a computerized build, enabling teams to identify issues in the early stages. 
   By blending frequently, one can identify faults immediately, and locate them more efficiently. Continuous Deployment is closely associated with Continuous Integration and refers to the release into the generation of software that passes the computerized tests.

7. Analytics: Another influential trend that is molding project management is data analytics. A complete data analytics like predictive analytics and task reports will help Project Managers to identify risks. The Project Management analytic tools based on the cloud can help Project Managers to gather real-time data and display the outcomes much more precisely. These tools present dashboards with pictures that involve entire projects, team member's activities, tasks, sub-tasks along accounts. Therefore, the analytics method becomes more accessible for Project Managers and helps them to accomplish their goals.

8. Emotional intelligence: Emotional Intelligence might not be the latest concept but has its own position in the list of trends in the practical industry based on processes. And in a profession where performance and effectiveness are the two important things, the possibilities are huge that we might as well get lost in the variety of the achieved policies. Hence, new Project Managers must have soft skills along with technical skills to advance in their work. Emotional intelligence abilities involve motivation, emotional awareness, regulation, capacity to use emotions and implement them to tasks. These abilities play an essential part while one is leading a team that is driving a project ahead under a fixed time and suffering different problems.

9. Hybrid Project Management methods: Project management techniques and methods have improved notably over the ages. Organizations are broadly employing hybrid methodologies that are obtained from various features of Waterfall and Agile methods. These methodologies allow us to manage the projects over the much greater job field with a critical necessity of many Project Managers to be involved in it. This approach has many benefits few of which include delivering greater performance while executing a project, establishing a more reliable competitive edge when the result of projects impacts the accomplishment of strategic goals positively.

10. Kanban Boards: Kanban is a visual and workflow-based methodology, originally developed and executed by Toyota to allocate workloads with the help of a card method. The combination of favorable Kanban boards into more structured Project Management is expanding remarkably. Kanban methodology allows Project Managers to interact with another team or department members to prioritize tasks for an effective approach and to avoid multitasking. It is commonly been beneficial in the case of Agile projects that are progressively tilted to a series of variations. This methodology will enable Project Managers to adopt changes to maintain and improve their projects. Furthermore, it gives Project Managers a position to supervise tasks, to-do lists, and records that can be executed in each case.

11. Public Problem Solving: With unrestricted projects and tasks, Project Managers can request for support or guidance on their projects, as projects become publicly accessible. Project Management will have its own platforms to divide templates, project plans, workload and supply management answers. With this ability, the opportunities are infinite.

12. Soft Skills: The Project Management group and the broader enterprise groups are becoming increasingly conscious of the significance of soft skills. Soft skills are essential for the progress and success of each and every project. Project Management Institute(PMI) obtained some of this information and it continues to be important today. The model Project Management skillset comes down to perfection in leadership, technical, decisive and business administration. When companies concentrate on all these skill sets, the goals and business intent are met 40% more effectively. These skills include motivation, communication, leadership, decision making, trust-building, time management, and conflict resolution. 

13. The growth of remote teams: Currently several companies are giving huge importance to the distributed team structures. For this, companies are adopting suitable Project Management tools to maintain a remote team or distributed teams efficiently. This trend is slowly growing to be a conventional method in the domain of Project Management and is supporting organizations to enhance productivity and efficiency of the team.As Project Managers and their teams are looking flexibleness inside the workplace, the organizations are embracing this trend in technology to efficient interaction across a broad scope of platforms. The fact that maintaining distributed teams requires less operational values keeps on powering this trend.

Conclusion:

      There is no denying that the field of Project Management is continually developing, and it can be a strain for Project Management Professionals and also companies to keep up. Probably, these trends and practices from business experts help you to linger on top of all the alterations and modifications that are in the pipeline. 

Project Management and productivity are extremely developing areas. The above-mentioned trends and practices will help in improving the effectiveness and potency of a business. Though these trends keep evolving from time to time, the knowledge and skills will forever remain consistent and relevant for a Project Management profession. Whatever be the future trend in this domain, the skills will remain important for the career. So, if you are aimed to prove and illustrate your abilities, selecting one or more Project Management certification is a genuine choice.

Author Bio:

Amelia Emma is Content Manager at GreyCampus with four years of rich experience in developing content for professional certification courses like PMP- Project Management Professional, PMI-ACP, Prince2, ITIL (Information Technology Infrastructure Library), Big Data, Cloud, and Six Sigma.