5 Disruptive Trends Impacting the Project Management Domain

from 5 Disruptive Trends Impacting the Project Management Domain

Soumik Das NetCom Learning

DISRUPTIVE TRENDS IN PROJECT MANAGEMENT

• In the next five years, the world will see more projects than ever. The reconstruction of the economy, healthcare, social care, and society at large after the devastating global pandemic crisis, will be unprecedented in human history.

According to McKinsey, Governments’ have announced $10 trillion in reconstruction funds just in the first two months of the crisis, which is three times more than the response to the 2008–09 financial crisis. These are millions of projects, which will need millions of project managers.

• However, despite this positive outlook, significant trends will put at stake the project management profession that we have learned to know in the past 40 years.

We should consider these signals as an urgent call for profound change in our practices and a much needed in our competencies. A small price to pay compared to the unique opportunity that the project management profession has to lead what I call our new world driven by change.

THE END OF JOB DESCRIPTIONS, THE START OF PROJECT ROLES

The move from a world driven by efficiency to a world driven by the change will have enormous consequences in terms of strategies, culture, organizational structure, competencies, compensations, etc. More and more work will be carried through projects. The Richards Group is the largest independently owned ad agency in the US, with billings of $1.28 billion, a revenue of $170 million, and more than 650 employees. Stan Richards, its founder, and CEO removed almost all of its management layers and job titles, leaving only that of the project manager. The Richards Group is not an exception. One of the most significant impacts of this unprecedented disruption will be the end of job descriptions, which almost every organization has had for the past 30 years and will be replaced by project roles. Today most employees don't work on what their job descriptions state; they work on the changing priorities, the strategic initiatives, the focus on the clients, and delivering value to their organizations. They actually work on projects. Employees very soon will be assigned a role in a project, and once the project is over, they will be assigned a role in another project.

WHY SHOULD PROJECT MANAGERS EVOLVE AS PROFESSIONALS

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