7 Major Industry Trends in Project Management
There are some industry trends that Project Managers need to understand to run a successful project. Although Project Management Institute opines that you can manage any project if you are PMP certified. The fact remains that you may not be able to perform well if you do not understand the trend in that particular industry. In this article, I want to look at what Project Managers need to understand in order to perform creditably well.
#1 PRODUCT AND TECHNOLOGY DEVELOPMENT
The Project Manager needs to understand the old and modern terms of how products and services are developed in that particular industry. He has to be able to identify how technologies are used in the production of goods and services within that particular industry. He might be called upon to improve on that process or develop new processes for the organization. Besides, the mode adopted will determine the roles of individuals in that organization.
#2 NEW AND CHANGING NICHE
As the Project Manager, one of the major industry trends that you need to understand for optimal growth is new and emerging market niches within that industry. He might be called upon to advise the organisation on how to capture new target markets and reach new audience. This will also enable him to understand the roles that he needs to play within the new ecosystem.
The Project Manager also needs to be aware of the minimum required standards in the industry to operate as a Project Manager. He must know about standards relating to project management, quality management, information security management, products, and service acceptance for that particular industry before he can operate successfully within that industry.
#4 TECHNICAL SUPPORT TOOLS
The project manager must also be versatile when it comes to the use of technical support tools within that industry. He has to know how to use project management tools as well as communication tools that will allow him to carry stakeholders along and fulfill their requirements. This might also include modern tools that have to do with information communication technology that is available within that particular industry.
#5 ECONOMIC FORCES
If there is any reason why organizations embark on projects, it is to achieve project goals. The Project Manager needs to ensure that he understands all the forces that are gearing up interest in the project.
He needs to know if the forces are within or outside the organization. That means if it is outside the organization, the organization will not be able to control it. Take, for example, an organization might decide to embark on a project because their competitor has done something similar or superior.
The expectation for success is very high. This might put undue pressure on the project manager.
The Project Manager as part of the major trends that he needs to understand must know some of the major influences affecting project management in that industry. He has to know some of the “powers that be” in that organization. These are the structures that set targets for the project manager. Such powers must be recognized if the Project Manager wants to remain relevant in that organization.
#7 PROCESS IMPROVEMENT
One of Project Management’s focus is to improve processes and sustain strategies within the organization. At every point in time, the project manager in collaboration with other stakeholders needs to analyze the overall processes of the organization. This will allow them to know some of the steps that can be removed. They can be removed because they are not adding up to the entire process. It might be because new trends are being introduced.
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