Project management has been around for decades and will continue to have a long life ahead. It has brought about many positive changes to businesses globally and is being continuously modified to accommodate the latest management trends and their numerous beneficial impacts. Technological advancements and global business scenarios have largely influenced the journey of project management, which has enjoyed a reliable past, a steady present and will continue to have a scintillating future.
Let us take a quick recap and then see what lies ahead for project management.
The phenomenon of project management started around 1970s. Then, the idea was developed and executed in some industries. In the 1980s, it was implemented mostly in the engineering and technology sectors. In those days, the concept of project management was limited to just organizing or administrating company processes. This approach has changed in the following years. Very few people in the corporate field were aware of the functionality and benefits of project management, while others had not heard of the term itself. However, all this slowly changed and gave way for a better present.
Thirty years after the introduction of project management, its implementation is no longer confined to the sectors of technology and engineering and has spread to wider horizons. It can now be seen in industries like medicine, oil, marketing, etc. Today, more people are aware of the concept and most team workings on different projects take the help of project management tools and techniques to guide the same towards success. Project managers are no longer considered just administrators but have assumed the role of strategic thinkers who strive hard to ensure the success of a project.
The discipline of project risk management has become more professional with a multitude of courses coming to the fore. PMP certification and PRINCE2 certification have taken the business market by storm with more and more professionals opting for the same. Now, companies prefer certified professionals over others who aren’t. These certifications are being recognized and valued globally. The number of people taking these certificate examinations will only increase as time passes. Because of their easy modes of implementation, everyone in the project team understands the value of risk assessment and management. The developing phenomenon of global business and ever-changing international laws make it even more important for companies to be well-prepared and face grave situations in their projects--with minimum risk, and without compromising on the success quotient of the same. The impact of social media has also shaped the ways in which project management concepts are being perceived in the market.
The future of project management speaks of more professionals investing their time and efforts in learning and developing management skills simultaneously. With the world witnessing a global economic crisis in the past few years, and businesses preparing themselves for a similar situation in future (if the need arises); project management tools/techniques are expected to be a friend in need.
Additionally, with an increase in the number of project management certified professionals globally, employees would prefer to work on a flexible freelance/ project basis instead of opting for rigid schedules. Social media channels are likely to bring about transformations in the ways in which project management would be learnt. Numerous digital platforms would be integrated to enhance the learning experiences of those interested in developing their project handling skills further. All in all, the future looks pretty promising for project management and its takers alike.
A Bright Journey
There is no doubt that project management is en route to a brighter future. It will be a part of numerous industries, with companies from different sectors adopting its modules with increased vigor. The scope of project management will increase and it will see modifications and changing trends that will prove to be beneficial for one and all. This means that numerous projects will be successful with the application of project management methodologies and companies will enjoy more profitable business volumes. With this in view, is important for managers to keep up with the trends of project management and maintain a symbiotic relationship with it in the years to come.
Author : Uma Daga